CereVasc closes $85M Series C with J&J and Medtronic backing the eShunt trial

MedDevice Startups Staff · Jun 4 · 2 min read · Via MassDevice

CereVasc closed the initial $85M of a Series C on June 4, 2026. Piper Sandler Merchant Banking led. Johnson & Johnson Innovation (JJDC), Medtronic, Bain Capital Life Sciences and Perceptive Xontogeny Venture Funds participated. Kevin Conroy joins the board as lead independent director, Christopher Geyen as an independent director and audit chair, and Tom Schnettler for Piper Sandler.

eShunt is a cerebrospinal fluid shunt placed from inside the venous system through femoral access and held by a self-expanding nitinol anchor. It is meant to replace the surgical ventriculoperitoneal shunt in normal pressure hydrocephalus. The device holds Breakthrough Device designation. The STRIDE trial, enrolling since 2024, compares eShunt with VP shunting. Change in gait impairment at six months is the efficacy endpoint; adverse events at six months is the safety endpoint.

CEO Dan Levangie said the money funds STRIDE, organizational growth and preparation for a PMA and a US launch. Medtronic and J&J rarely sit in the same syndicate. Both came in here, before the trial reads out.

Questions & Answers

How much did CereVasc raise in its Series C?

CereVasc closed an initial $85M Series C on June 4, 2026, led by Piper Sandler Merchant Banking, with JJDC, Medtronic, Bain Capital Life Sciences and Perceptive Xontogeny participating.

What is the CereVasc eShunt?

eShunt is an endovascular cerebrospinal fluid shunt for normal pressure hydrocephalus, placed through femoral venous access with a nitinol anchor. It holds FDA Breakthrough Device designation and is in the STRIDE trial against VP shunting.

Who joined CereVasc's board after the Series C?

Kevin Conroy joined as lead independent director, Christopher Geyen as independent director and audit committee chair, and Tom Schnettler as Piper Sandler's representative.

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