CereVasc, Inc. Announces Over-Subscribed $85 Million Series C Financing to Advance its Novel eShunt® System for the Treatment of Normal Pressure Hydrocephalus

CereVasc, Inc., a clinical-stage medical device company focused on innovative treatments for neurological diseases, has successfully completed the initial closing of an $85 million Series C financing round. The funding was led by Piper Sandler Merchant Banking and included participation from notable investors such as Johnson & Johnson Innovation – JJDC, Inc., Medtronic, Bain Capital Life Sciences, and Perceptive Xontogeny Venture Funds. This financing round was announced on June 4, 2026, and is intended to support the development of CereVasc's eShunt System, which is currently undergoing clinical trials.

The eShunt System is designed to provide a minimally invasive treatment option for patients suffering from Normal Pressure Hydrocephalus (NPH), a condition that can lead to cognitive decline and mobility issues. The ongoing STRIDE pivotal trial, which is a multi-center, randomized, controlled study, aims to evaluate the safety and effectiveness of the eShunt System compared to the traditional ventriculo-peritoneal (VP) shunt. The results from this trial are critical for CereVasc as they seek to secure a Premarket Approval (PMA) from the FDA, paving the way for commercialization in the United States.

CereVasc's strategic focus on minimally invasive solutions aligns with broader trends in the medical device sector, where there is an increasing demand for less invasive surgical options that can improve patient outcomes and reduce recovery times. The participation of established industry players like Johnson & Johnson and Medtronic not only provides financial backing but also adds significant expertise and credibility to CereVasc's operational capabilities. The involvement of these investors is indicative of the growing interest in innovative medical technologies that address unmet clinical needs.

In conjunction with the financing, CereVasc has strengthened its Board of Directors by adding experienced leaders, including Kevin Conroy as Lead Independent Director and Christopher Geyen as Chair of the Audit Committee. These appointments are expected to enhance governance and strategic oversight as the company navigates its next phase of growth, which includes advancing regulatory work and scaling operations for potential commercialization.

The successful closing of this Series C financing round underscores the robust investor interest in the medical device sector, particularly for companies that are developing groundbreaking technologies. As CereVasc moves forward with its clinical trials and regulatory submissions, the outcome of these efforts could have significant implications for the treatment of neurological conditions and the overall landscape of minimally invasive surgical options. The ongoing support from high-profile investors may also signal a positive outlook for future fundraising efforts as the company aims to bring its innovative solutions to market.