Imperative Care Secures $85 Million Series C Financing to Accelerate Commercialization of Stroke Treatment Portfolio

On December 11, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Imperative Care, a U.S.-based startup specializing in stroke treatment, announced the completion of an $85 million Series C financing round. The round was led by new investors Ally Bridge Group and Bain Capital Life Sciences, with existing investors Ascension Ventures, Delos Capital, Rock Springs Capital, 3H Health Investment, and Incept participating as co-investors.

In conjunction with this financing, Ally Bridge Group founder Frank Yu and Bain Capital Managing Director Andrew Hack will join the board of directors of Imperative Care.

This round of financing will be used to accelerate the commercial launch of Imperative Care’s stroke product portfolio, which includes neurovascular devices for the treatment of ischemic and hemorrhagic stroke.

Imperative Care, founded in 2016 and headquartered in California, USA, is a startup company focused on stroke treatment. The company aims to address the challenge of stroke by developing a series of innovative solutions to meet the broad and urgent needs for stroke care. Committed to improving stroke treatment through advanced medical technologies, Imperative Care provides healthcare providers with optimal medical equipment, thereby enhancing the level of care for stroke patients.

Fred Khosravi, Chairman and Chief Executive Officer of Imperative Care, stated, “We are delighted to have Ally Bridge Group and Bain Capital lead this financing round at this pivotal stage in our company’s development. We look forward to the support and guidance of Frank Yu and Andrew Hack as we advance our mission in emergency care, marking an exciting time for our company. We are poised to launch the industry’s first Large Distal Platform (LDP) access technology and the unparalleled ZOOM Aspiration System. Furthermore, we will continue to drive a series of innovations in stroke care, with significant investment and a strong emphasis on clinical research data.”

It is reported that Imperative Care has obtained U.S. Food and Drug Administration (FDA) 510(k) clearance. The novel catheter design from Imperative Care is intended to provide a platform that facilitates physician navigation through complex vascular systems. This will help physicians improve treatment efficiency and offer patients the best chance of recovery. In addition, the company’s ZOOM Aspiration System has also received FDA approval. The ZOOM Aspiration System comprises a suite of products designed to help remove blood clots in patients with ischemic stroke.

Ally Bridge Group is an investment group focused on the global healthcare industry, founded by Mr. Yu Fan. Since its establishment in 2011, Ally Bridge Group has grown from a China-based firm into an international investment institution in the healthcare sector. Currently, Ally Bridge Group and its affiliates manage nearly $2 billion in assets, with a portfolio comprising top-tier life science and technology companies in the United States, Europe, and China.

Bain Capital Life Sciences is a U.S. private equity firm founded in 1984 and headquartered in Boston, Massachusetts. On September 28, 2007, Bain Capital acquired 3Com for $2.2 billion in cash. In September 2017, Bain Capital, Western Digital, and Hon Hai Precision Industry Co., Ltd. (Foxconn) led the acquisition of Toshiba’s semiconductor business. In December 2018, Bain Capital’s Asia fund completed its fundraising, successfully securing $4.65 billion.

(Compiled by: Wang Fang)