Endovascular Engineering (E2) has secured $42m in a Series B funding round to advance its advanced clot removal technology for the treatment of venous thromboembolism (VTE).
The oversubscribed financing round was co-led by 415 Capital and S3 Ventures, with other participants including Panakès Partners, and M&L Healthcare.
It was supported by founding investor Santé Ventures, and two international investors made significant commitments alongside Cordis, which will continue its partnership with E2.
E2 intends to use the financing to advance its novel solutions to address Pulmonary Embolism (PE) for the treatment of VTE.
As part of the transaction, E2 will appoint Ruben Osnabrugge from 415 Capital and Brian R. Smith from S3 Ventures to its board of directors.
415 Capital partner Ruben Osnabrugge said: “E2 is developing a best-in-class therapy for PE, the third leading cause of cardiovascular death.
“Its differentiated technology and vision align closely with our mission to advance novel cardiovascular therapies, and we are proud to support E2 as it advances the Hēlo PE thrombectomy platform towards FDA approval.”
S3 Ventures managing director Brian Smith said: “We are truly impressed by E2’s next-generation platform technology for VTE and see this as a solution to dramatically scale the mechanical thrombectomy market and improve the lives of patients.”
E2 is a venture-backed medical technology firm engaged in developing and deploying groundbreaking solutions that advance the standard of care in clot removal.
The company intends to use additional capital to address critical unmet needs in interventional medicine and pursue a new standard of care for both patients and physicians.
E2 has neared the completion of enrolment in the ENGULF clinical trial, designed to evaluate the Hēlo PE Thrombectomy System.
Hēlo is an advanced clot removal technology that combines powerful aspiration with advanced mechanical clot disruption and features a patented dual-action mechanism.
The thrombectomy system delivers large-bore performance through a small-profile catheter, facilitating effective single-pass procedures.
E2 CEO Dan Rose said: “This financing represents more than capital, it validates our technology platform and positions us to revolutionize PE treatment.
“With strong support from sophisticated healthcare investors like 415 Capital and S3 Ventures, we are well-positioned to establish the Hēlo PE System as the gold standard in mechanical thrombectomy for pulmonary embolism.”
