Emboline raises $10m Series B for TAVR embolism filter

Emboline said today that it pulled in a $10 million Series B round for the namesake embolic protector it’s developing for heart valve replacement procedures.

The Emboliner catheter is designed to prevent blood clots from passing into the cerebral vasculature during transcatheter aortic valve replacements. Santa Cruz, Calif.-based Emboline said the round includes $3 million from a consortium led by SV Tech Ventures and Shangbay Capital and $7 million in already-issued convertible notes. The cash is earmarked for Emboline’s SafePass clinical trial, submission for CE Mark approval and initial commercialization, the company said.

“As Emboline nears the initiation of our clinical trial to achieve CE Mark approval, this new funding is imperative to securing our place in the embolic protection market,” president & CEO Scott Russell said in prepared remarks. “We are confident in the superiority of our technology and we are looking forward to offering future TAVR patients a safer procedure.”

“The risks of stroke and other neurological damage from TAVR have been getting increased attention in the cardiology community. We recognize that managing these risks will be critical to expanding TAVR into lower risk patient populations,” added ShangBay founding partner William Dai, who is joining the Emboline board in connection with the financing. “The design of the Emboliner device has great advantages over its competitors, and it has the potential to become the leader in the emerging TAVR embolic protection market.”

“We have been closely monitoring the development of the Emboliner since 2015 and are encouraged by the potential this unique technology has to improve the safety of TAVR and other interventional procedures,” SV Tech managing partner Peng Cheng said in the release. “This is an exciting time for Emboline as they begin their clinical studies, and we look forward to continuing our work with the Emboline team to bring this technology to patients across the globe.”

Another embolic filter for TAVR procedures, Claret Medical‘s Sentinel device, won de novo clearance from the FDA in June 2017.

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