VANCOUVER, CANADA – June 14, 2017 – Evasc Neurovascular Enterprises ULC announced that it has closed a CAD $10 million Series A venture capital financing round, led by Yonghua Investment Management Co., Ltd. (“Yonghua Capital”) of Shanghai, China. Several of Evasc’s existing investors also participated in the financing. Together with previous seed financing rounds, a total of CAD $27 million has been raised to date for the development and commercialization of the eCLIPs System.
The new funds will be used towards achieving strategic milestones related to the eCLIPs Aneurysm Treatment System in three key areas:
• Expand use cases—to demonstrate efficacy for:
o Flow disruption at bifurcations, to eliminate the need for embolization coils
o Sidewall aneurysms, to broaden eCLIPs’ use to 95% of cerebral aneurysms
• Improve ease of use—updated design for simplified deployment as well as use in smaller catheters, to accelerate accessibility and adoption by interventionists
• Clinical trials & regulatory approval—continuation of the current EESIS trial and preparation for FDA IDE trial, to further demonstrate the superior efficacy of eCLIPs and gain approval for sale in the USA
“We are excited to welcome Yonghua Capital to the Evasc team. This new funding will allow us to accelerate our plans to transform the cerebral aneurysm repair industry, enabling a much higher level of patient care and successful treatment outcomes than is currently possible”, said Dr. Donald Ricci, President and Chief Executive Officer of Evasc.
Evasc Neurovascular is on the web at www.evasc.com.
For more information, contact
Scott Wilson at:
Phone: (604) 742-3811,