Transverse Medical Raises $10M in Series B2 Capital

Transverse Medical Inc. is considerably more affluent these days, having completed a Series B2 financing round that netted the firm more than $10 million in new capital from a legacy lead investor and Series B1 backers.

Proceeds from the Series B2 round will support the clinical validation of Transverse Medical’s Point-Guard Cerebral Embolic Protection (CEP) device under a feasibility clinical study at Victorian Heart Hospital in Melbourne, Australia, and ongoing development of the proprietary Point-Guard cerebral embolic protection platform. Funds also will be used to expand operational infrastructure and grow the company’s engineering, regulatory, quality, and operating teams as it advances toward pivotal trials and U.S. Food and Drug Administration Investigational Device Exemption submission.

Transverse Medical’s Point-Guard device is designed to provide maximum protection against periprocedural stroke and brain ischemia during transcatheter procedures such as Transcatheter Aortic Valve Replacements (TAVR) by preventing embolic particles from reaching the brain and by providing a solution for full brain protection.

“This successful raise marks a significant milestone for Transverse Medical and reflects strong investor confidence in our technology and mission,” Transverse Medical President/CEO/Co-Founder Eric Goslau said. “We are now well-positioned to accelerate the development of our Point-Guard Protected solution and bring innovation to patients undergoing complex cardiovascular and structural heart procedures where there is an increased risk of embolic debris and potential for stroke and brain ischemia.”

Transverse Medical is an early-stage medical device company developing the Point-Guard Cerebral Embolic Protection medical device for use during TAVR to protect patients from embolic debris (particles) that are dislodged and released (debris shower) into the cerebral blood flow that could lead to periprocedural stroke as a result of the TAVR procedure.

The next-generation Point-Guard is an advancement for complete cerebral embolic protection of the brain and designed with operator ease of use and ability to accommodate variable arch anatomies with non-interference and full aortic arch stabilization.