CereVasc has raised $85m, providing the clinical stage company with a cash runway to support the ongoing development of its eShunt system for normal pressure hydrocephalus (NPH) treatment.
The Massachusetts-based company’s Series C financing round was led by Piper Sandler Merchant Banking and featured participation from Johnson & Johnson Innovation (JJDC), Johnson and Johnson’s (J&J) corporate VC arm, and Medtronic. CereVasc’s existing investors, Bain Capital Life Sciences and Perceptive Xontogeny Venture Funds, also participated.
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CereVasc’s eShunt system is designed to treat NPH by draining excess cerebrospinal fluid (CSF) from the brain into the venous system through a small implant placed in the cerebellopontine angle. The cerebellopontine angle is a space in the brain between the cerebellum and the brainstem.
CereVasc’s latest funding will primarily support the conclusion of the STRIDE pivotal trial (NCT06498960) that is evaluating the safety and effectiveness of eShunt compared to the current standard of care (SoC), the ventriculo-peritoneal (VP) shunt, in treating NPH. CereVasc intends to use the trial data to support a future premarket approval (PMA) submission for eShunt with the US Food and Drug Administration (FDA).
CereVasc CEO, Dan Levangie, commented: “This Series C financing is a meaningful milestone for CereVasc, and more importantly, for the patients who are living with conditions for which current treatment options remain inadequate.
“This funding supports the next critical phase for the eShunt system, including PMA submission and preparation for commercial launch – accelerating our path toward a minimally invasive surgery that we believe has the potential to meaningfully improve patient outcomes and quality of life.”
NPH occurs when fluid buildup presses on the brain, resulting in dementia-like symptoms. The Hydrocephalus Association estimates that 800,000 Americans may be living with NPH. It notes that without appropriate diagnostic testing, the condition is often misdiagnosed as Alzheimer’s or Parkinson’s disease, stroke, or other neurodegenerative conditions.
In February 2025, CereVasc reported positive initial results in a pilot study of eShunt in treating elderly patients with normal pressure hydrocephalus (NPH). At the 90-day primary endpoint of the 30 patient, open-label, multi-centre study (NCT05232838), 97% (29/30) of patients treated with eShunt demonstrated an improvement in the clinical symptoms of NPH.
The study also indicated gait improvement as measured by the Timed Up and Go (TUG) test, cognitive improvement measured by the Montreal Cognitive Assessment (MoCA), and improvement in urinary symptoms as measured by the Neurogenic Bladder Symptom Score (NBSS).
