Imperative Care has completed the initial closing of a Series C financing of $85m to support the commercial launch of its portfolio, which is composed of the latest advances in neurovascular devices treating ischaemic and haemorrhagic strokes. The round was co-led by new investors Ally Bridge Group and Bain Capital Life Sciences.
A press release reports that existing Imperative Care investors—Ascension Ventures, Delos Capital, Rock Springs Capital, 3H Health Investment, and Incept LLC—also strongly participated in the round. Furthermore, Frank Yu, Ally Bridge’s founder, and Andrew Hack, managing director of Bain Capital, will join Imperative Care’s Board of Directors.
Fred Khosravi, chairman and CEO of Imperative Care, comments: “We are thrilled to have Ally Bridge and Bain Capital leading this round of financing at this important stage in our company’s growth. We look forward to Frank and Andrew’s support and guidance as we continue to propel forward Imperative Care’s unique mission. This is an exciting time for our company. We are poised to launch the industry’s first large distal platform (LDP) access technology and our unparalleled Zoom aspiration system. In addition, we continue to develop a pipeline of innovations in the continuum of stroke-care, with significant investment and emphasis on clinical evidence.”
Imperative Care has received 510(k) clearance from the FDA for its family of access catheters designed to facilitate smooth, consistent navigation into blood vessels of the brain. The company has also received FDA clearance for its Zoom aspiration system, a family of products designed to facilitate clot removal during ischaemic stroke.
The company was co-founded in 2016 by Nick Hopkins (founder and chief scientific officer of Jacobs Institute) and Fred Khosravi (a medtech entrepreneur and innovator). Imperative Care is 21st start-up founded by Khosravi and the Incept LLC medical technology accelerator in the past 21 years.