Medtronic’s JJDC Helps Finance $85M Series C for eShunt Hydrocephalus Trial
MDT•CereVasc has raised $85 million in Series C financing led by Piper Sandler Merchant Banking with participation from Johnson & Johnson Innovation, Bain Capital Life Sciences, Perceptive Xontogeny and Medtronic’s JJDC. Proceeds will fund the STRIDE pivotal trial of eShunt system versus ventriculo-peritoneal shunts, enabling FDA premarket approval submission.
1. Series C Round Details
CereVasc closed an $85 million Series C financing round led by Piper Sandler Merchant Banking, with existing investors Bain Capital Life Sciences and Perceptive Xontogeny, as well as contributions from Johnson & Johnson Innovation and Medtronic’s venture arm JJDC.
2. STRIDE Pivotal Trial Objectives
The funding will support completion of the STRIDE pivotal trial (NCT06498960), which compares the safety and efficacy of CereVasc’s eShunt system to standard ventriculo-peritoneal shunts for normal pressure hydrocephalus, and underpin a planned FDA premarket approval submission.
3. Medtronic’s Strategic Participation
Medtronic’s participation through JJDC aligns with its strategic focus on minimally invasive neurosurgical technologies, potentially expanding its portfolio in hydrocephalus treatment pending eShunt’s commercial launch.
