Centerline Biomedical Raises $33 Million in Series B Financing


Proceeds will speed up a robust R&D pipeline, industrial partnerships and scientific pursuits led by main institutional and strategic traders

CLEVELAND, June 27, 2022 /PRNewswire/ — Centerline Biomedical, Inc. (Centerline), a personal healthcare technological innovation organization, announced the closing of a $33 million Sequence B fairness funding led by Cleveland Clinic with participation by GE Healthcare, RIK Enterprises, JobsOhio, Jumpstart Ventures and G2 Team Ventures. This funding will support propel the enterprise into new surgical applications, speed up its professional revenue and incorporate to its growing medical evidence repository.

Centerline Biomedical’s procedure increases visualization and advice in endovascular methods although lessening dependence on radiation and contrast brokers with the intention of bettering patient outcomes, as nicely as general efficiency for clinicians. Its flagship product, IOPS® (Intra-Operative Positioning System) was created in Cleveland Clinic’s Heart and Vascular Institute and utilizes patented algorithms to crank out a affected person-distinct vascular map combined with electromagnetic tracking and smart sensor-outfitted surgical units to provide true-time, 3-D color visualization and navigation of the human vascular technique.

IOPS® is Fda 510(k) cleared and at the moment launching in the US at decide on web-sites. Expansion to Europe and other essential markets will manifest in 2023. This platform technology drives an lively R&D pipeline, supported by 4 NIH (Countrywide Institute of Health) grants to day, and backed by a globe-course scientific advisory board, with foundational programs to each broaden and prolong the capabilities in the vascular room and enter the structural coronary heart space.

“We are fired up about the probable for IOPS® solution to remodel the imaging framework to make improvements to basic safety, good quality and expense of minimally-invasive vascular treatments while lowering radiation publicity of caregivers and patients for the duration of important existence-saving strategies” explained Todd Schwarzinger, GM Cleveland Clinic Improvements. He also mentioned that Centerline is a achievement tale for Northeast Ohio. “This technology, which was invented at Cleveland Clinic, represents a further instance of our region’s results in supporting early-stage innovation inside of the MedTech startup area.”

“The chance to commit in modern technology like Centerline Biomedical’s IOPS® option aligns with GE Healthcare’s mission of providing extra exact and successful care. As the quantity of minimally invasive methods for elaborate interventions raises, so does the have to have for sophisticated technologies to allow clinicians to make a lot quicker, additional exact and educated decisions to boost patient treatment. We look forward to working with Centerline Biomedical as perfectly as clinicians to check out the options of this technologies, as nicely as how this can complement our imaging and guiding systems,” stated Arnaud Marie, General Supervisor for World Interventional at GE Health care.

“Our technological know-how is presently yielding exceptional medical rewards and this funding will help notice our mission of improving upon the results, radiation basic safety and accuracy in endovascular surgical procedure,” said Philip D. Rackliffe, CEO.  “Effectively increasing this funds presented the demanding international environment is a resounding testament to this technologies and extraordinary team at Centerline”.

About Centerline Biomedical

Started in 2014, Centerline Biomedical is headquartered in Cleveland, Ohio. The company’s Food and drug administration-cleared technological know-how system enables radically improved visualization and assistance in endovascular procedures. Centerline is backed by Cleveland Clinic, GE Healthcare, RIK Enterprises, JobsOhio, Jumpstart Ventures and G2 Team Ventures. Take a look at www.centerlinebiomedical.com for much more details.

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