• Financing led by Piper Sandler Merchant Banking, with participation from new investors Johnson & Johnson Innovation – JJDC, Inc., Johnson & Johnson's corporate venture capital arm, and Medtronic
     
  • Participation by existing investors, including Bain Capital Life Sciences and Perceptive Xontogeny Venture Funds
     
  • Proceeds will support the conclusion of the STRIDE pivotal trial, continued operational scale-up, advancement of regulatory work toward a future Premarket Approval (PMA) submission to the FDA, and preparations for US commercialization
     
  • Board strengthened with addition of Kevin Conroy as Lead Independent Director, Christopher Geyen as Chair of the Audit Committee, and Tom Schnettler representing Series C investors

BOSTON, June 4, 2026 /PRNewswire/ -- CereVasc, Inc., a clinical-stage medical device company developing novel, minimally invasive treatments for neurological diseases, today announced it has successfully completed the initial closing of an $85 million Series C financing. Piper Sandler Merchant Banking led the financing with participation from Johnson & Johnson Innovation – JJDC, Inc., Johnson & Johnson's corporate venture capital arm, and Medtronic, along with existing investors Bain Capital Life Sciences and Perceptive Xontogeny Venture Funds.

Proceeds from the financing will fund continued clinical and regulatory development of CereVasc's eShunt System, including the ongoing STRIDE pivotal trial in patients with Normal Pressure Hydrocephalus (NPH). STRIDE is a prospective, multi-center, randomized, controlled trial designed to evaluate the safety and effectiveness of the eShunt System compared to the current standard of care, the ventriculo-peritoneal (VP) shunt, and is intended to support a future Premarket Approval (PMA) submission to the FDA. The company will also advance organizational growth and operational scale-up as it moves toward commercialization.

In conjunction with the closing, the company strengthened the Board of Directors with the addition of Kevin Conroy as Lead Independent Director, Christopher Geyen as an independent director and Chair of the Audit Committee, and Tom Schnettler of Piper Sandler Merchant Banking representing the new Series C investors.