California, USA-based, privately held medical technology company dedicated to improving outcomes for patients undergoing neurovascular intervention, Route 92 Medical, raised USD 31 million in an oversubscribed Series F round. The funding took place on November 17, 2023. Existing venture capital investors, such as U.S. Venture Partners, Norwest Venture Partners, InnovaHealth Partners, and The Vertical Group, led the financing for the company.
Purpose of the funding by Route 92 Medical
With the latest financing, Route 92 Medical seeks to accelerate the U.S. commercialization of the FreeClimb® 70 Reperfusion system. It features the FreeClimb 70 aspiration catheter and the Tenzing 7 delivery catheter. Besides, the company has plans to complete SUMMIT MAX, an FDA IDE-approved pivotal trial evaluating the HiPoint™ 88 and HiPoint 70 catheter systems, both featuring the Tenzing delivery catheter.
The funds also fuel the company’s operational growth. Route 92 Medical is in the process of completing validations of its first commercially available products from its new high-volume manufacturing plant near Salt Lake City, Utah. The new 40,000-square-foot facility will provide more than 12,000 square feet of production clean room, warehousing, as well as distribution functions. It also boasts enough stand-alone capacity to fulfil the growing demand for the Company’s products well into the future.
What the company’s official has to add
Chris Hartman, Chief Commercial Officer of Route 92 Medical, said, “The launch of the first complete reperfusion system with the Tenzing delivery approach is a tremendous step forward for stroke care. We have already seen early clinical adoption. The Route 92 organization continues to execute on many fronts: product development and regulatory milestones, scaling manufacturing capabilities, hiring world-class sales personnel, and growing commercial operations.”
In addition, Tony Chou, Chief Executive Officer and Founder at Route 92 Medical said, “We are continuing to build our industry-leading commercial and support teams to bring our Tenzing, FreeClimb, HiPoint, and Monopoint products to the market, serving our interventionalist customers and their patients. This latest investment validates our clinical and commercial performance. Meanwhile, we focus on improving outcomes for patients suffering from devastating strokes.”
About the company
Joey English, Tony Chou and Scott Wilson launched the company in 2015. Route 92 Medical’s mission is to improve outcomes for patients undergoing neurovascular intervention. The company leverages cutting-edge engineering and innovative product design. The company enjoys collaborations with leading neurovascular clinicians to solve the biggest challenges in neuro intervention and deliver meaningful, differentiated solutions that promote clinical success.
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