Blockade Medical LLC has announced the closing of a round of equity financing. The financing was comprised of existing investors and new investment from TitanMed Capital and GP Healthcare Capital, venture capital and private equity funds, which are dedicated to healthcare investments. The company also announced the formation of a joint venture for future manufacturing of Blockade devices for the Chinese marketplace.
The funds will support the continued commercialisation of the Barricade Coil System and will also be used for the continued development of novel neurovascular devices for the treatment of aneurysms, stroke and other neurovascular conditions.
“Securing this funding demonstrates the confidence from our existing and new investors in our ability to bring new and differentiated technologies to market,” said Dave Ferrera, Blockade Medical’s president and chief technology officer. “We are very proud of the high double digit growth we have experienced year over year and the significant products we have delivered to the global marketplace with the limited private financing up to this time. We are now embarking on a new chapter at Blockade Medical where the next generation of products will be highly differentiated and potentially therapy shifting technologies.”