Funding Will Support Clinical Development of Emboline's Embolic Protection Device

April 23, 2018—Emboline, Inc. announced recently that it has completed a Series B funding round totaling over $10 million.

Emboline is an emerging medical device company that is developing a device for total embolic protection during transcatheter aortic valve replacement procedures. The working capital will be used to fund the SafePass clinical trial for the Emboliner embolic protection catheter, the subsequent European CE Mark submission, and the device's initial commercial launch.

According to the company, the Emboliner device is intended to more reliably protect the cerebral system, while also capturing noncerebral debris. It is designed to provide more effective coverage of all cerebral branches with fewer anatomical limitations than previous-generation devices. The device is limited by United States law to investigational use, advised the company.

The funding includes $3 million in new equity financing from multiple investors led by SV Tech Ventures and Shangbay Capital, and more than $7 million in conversion of previously issued convertible notes. As part of the financing, ShangBay Capital's William Dai will join SV Tech's Peng Cheng on the Emboline board of directors.