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§ Private Profile · Auburndale, MA, USA
Medical device company developing minimally invasive endovascular treatments for hydrocephalus with its eShunt System.
CereVasc is a clinical-stage medical device company based in Newton, Massachusetts, that develops minimally invasive endovascular treatments for severe neurological diseases. The organization primarily focuses on addressing communicating hydrocephalus through its flagship eShunt System, an implantable medical product designed to replace traditional invasive surgical interventions with a specialized catheter-based approach. Operating under the strategic leadership of Chief Executive Officer Daniel Levangie, the enterprise maintains a dedicated team of approximately seven employees while actively advancing its clinical trial programs. To support ongoing regulatory approval processes and future commercialization efforts, the firm has successfully secured $43.9 million in Series A financing. This critical venture funding was backed by recognizable institutional investors in the healthcare sector, including the Perceptive Xontogeny Venture Fund and ATON Partners. CereVasc was founded in 2014 by medical professionals Carl Heilman and Adel Malek.
CereVasc has raised $114.0M across 2 funding rounds.
CereVasc has raised $114.0M in total across 2 funding rounds.
CereVasc has raised $114.0M across 2 funding rounds. Most recently, it raised $70.0M Series B in May 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 1, 2024 | $70M Series B | Perceptive Advisors, Evan Greif | Rapha Capital Management | Announced |
| Jun 1, 2020 | $44M Series A | Perceptive Advisors, Aton Partners | Rapha Capital Management | Announced |
CereVasc has raised $114.0M in total across 2 funding rounds.
CereVasc's investors include Perceptive Advisors, Evan Greif, Rapha Capital Management, ATON Partners.
CereVasc, Inc. is a clinical-stage medical device company developing the eShunt System, a novel, minimally invasive device for treating communicating hydrocephalus (CH), a life-threatening neurological condition affecting children and adults by excess cerebrospinal fluid (CSF) buildup.[1][2][6] The eShunt enables percutaneous transvenous-transdural access to the central nervous system, aiming to drain CSF without traditional invasive neurosurgery involving scalp incisions, burr holes, or abdominal catheters, potentially improving outcomes and reducing costs.[1][2][5][6] Founded in 2014 and headquartered in Charlestown, Massachusetts, CereVasc has raised $113.9M total, including a $70M Series B in May 2024 led by Bain Capital Life Sciences and Perceptive Xontogeny Venture Fund, supporting a pivotal clinical trial ahead of regulatory approvals; it remains at Series B stage with 32 patents in areas like rare diseases and ventricular implants.[1][4][5]
The company targets patients underserved by current shunts, which have high complication rates, particularly for normal pressure hydrocephalus (NPH) in the elderly; early momentum includes successful Series B funding and impending trials demonstrating clinical progress.[1][5][6]
CereVasc emerged in 2014 from a collaboration between Tufts Medical Center and ATON Partners, LLC, announced on August 6, 2014, to commercialize a breakthrough hydrocephalus treatment invented by Tufts neurosurgeons Carl Heilman, MD (chair emeritus of neurosurgery) and Adel Malek, MD, PhD (chief of neurovascular surgery).[2][4] The eShunt concept stemmed from their patented design for endovascular CSF shunting, addressing limitations of invasive procedures and targeting CH, including NPH affecting thousands of elderly U.S. patients.[2][4]
ATON Partners, led by Daniel Levangie (managing partner, now CereVasc Chairman & CEO) and Patrick Sullivan (former Cytyc executives), provided initial funding and expertise in healthcare tech; Levangie highlighted the technology's potential to transform treatment simplicity and access.[4] Early validation came from Tufts leaders like Richard Karas, MD, PhD (Chief Science Officer), with pivotal moments including Series B funding in 2024 to advance trials.[4][5]
CereVasc rides the trend of minimally invasive neurotech, leveraging endovascular techniques from stroke and aneurysm treatments to disrupt hydrocephalus care, a market long stagnant with high-failure shunts.[1][2] Timing aligns with aging populations driving NPH demand and advances in percutaneous CNS access, amid regulatory pushes for less risky devices; market forces include rising neurological disease prevalence and investor interest in clinical-stage medtech, as seen in its $70M raise.[5][6]
It influences the ecosystem by pioneering transvenous brain access, potentially expanding to other CSF disorders, fostering patents and trials that challenge neurosurgical norms and attract talent/investment to Boston's medtech hub.[2][4]
CereVasc is poised for FDA pivotal trial readout and approvals post-2025, with Series B fueling commercialization of eShunt as a hydrocephalus breakthrough.[1][5] Trends like AI-guided endovascular tools and value-based care will accelerate adoption, evolving its role from CH specialist to broader neuro platform amid competition from shunt incumbents. Success could redefine minimally invasive neurosurgery, tying back to its origins as a neurosurgeon-led innovation transforming patient access.[2][4][6]