NeuroVasc Tech raises $6m in Series B

NeuroVasc Technologies said yesterday it closed a $6.3 million Series B preferred stock round.

The round was joined by multiple investors, and led by ShangBay Capital, the Laguna Hills, Calif.-based company said.

NeuroVasc Tech is developing treatments for neurovascular conditions with a focus on treating ischemic stroke, and currently has CE Mark approval in the European Union for its Versi mechanical thrombectomy system used to remove clots form the brain during acute ischemic stroke.

The device does not yet have FDA clearance for use in the US, the company said.

“NeuroVasc’s technologies may significantly improve treatment outcome of stroke patients and the quality of patients’ lives. We are very excited to be part of this effort,” ShangBay Capital founding partner William Dai said in a press release.

“Helping patients is our passion. We have been seeing good early clinical results, and we plan to expand on this clinical work with the current financing,” co-founder & CEO Jim Ma said in a preapred statement.

In December 2016, the then-stealthy company said it raised a $1 million funding round, taking its total raise since 2015 to nearly $2.5 million.

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