Under this transaction, Truvic will operate as a wholly owned subsidiary of Imperative Care, retaining its founding leadership team and distinct brand identity. The proceeds from the Series D financing will also be used to advance Truvic’s development and commercialization of technologies for the treatment of peripheral vascular disease.
Imperative said proceeds from the financing will be used to support ongoing commercialization and development of a wide range of Imperative Care’s technologies in the broad continuum of stroke care, as well as to create a strategic network of development subsidiaries in a number of areas of synergy.
“In addition to our initial focus in the field of stroke, we see natural areas of synergy across unmet patient needs, and we are committed to accelerating those paths to commercialization,” said Fred Khosravi, Chairman and CEO of Imperative Care. “To achieve that objective, and beginning with Truvic, we are creating a network of wholly owned subsidiaries that will leverage synergies where appropriate while at the same time giving the development programs the independence, specialization, and focus they need to bring important vascular intervention products to the market to meet patient needs as rapidly as possible.”
Imperative has FDA clearances for two product platforms: a family of access catheters called Large Distal Platform (LDP) designed to facilitate smooth, consistent navigation into blood vessels of the brain and the Zoom Aspiration System, a family of products designed to facilitate clot removal during ischemic stroke.
Original Article: (https://www.mddionline.com/cardiovascular/imperative-closes-financing-and-dives-ma)
