Centerline Biomedical Closes $1.7M Seed Round to Advance Vascular Navigation System
Centerline Biomedical, Inc. Developing Proprietary System That Reduces Medical Radiation
CLEVELAND, OH--(Marketwired - Aug 26, 2015) - Centerline Biomedical, Inc. has recently closed on a $1.7M seed investment to advance its cutting-edge vascular navigation system based on the research from Cleveland Clinic's Heart & Vascular Institute. The funding provides critical resources for the next phase of development and additional testing of Centerline's proprietary surgical navigation system.
Centerline technology significantly reduces the radiation exposure to patients and caregivers and provides the surgeon with a "GPS-like" tool, making these procedures safer, more accurate, and cost-effective. The platform technology is first aiming to revolutionize the endovascular aneurism repair market, but plans are in place to address a variety of vascular procedures.
Currently, endovascular surgeons rely on x-ray technology to guide instrumentation and devices into position. These procedures can last several hours, exposing the patient and caregiver to significant amounts of harmful radiation. X-ray imaging also provides poor visualization for the surgeon, thereby making navigation and positioning a challenge. Cleveland Clinic surgeons from the Heart & Vascular Institute noted these limitations and teamed up with researchers at Lerner Research Institute to develop this cutting-edge radiation-free system.
"Centerline is very pleased with this investment," said William Fuller, CEO of Centerline. "The combination of unsafe radiation levels, lengthy procedure times, and limited imaging capacity created an urgent opportunity to solve a real problem for hospitals and patients everywhere."
"The opportunity to positively impact a growing number of patients and providers alike is significant," said Dr. Matthew Eagleton, Chair of the Medical Advisory Board for Centerline. "Centerline's platform technology solves an immediate need and has the ability to transform many vascular and non-vascular procedures by reducing radiation, improving outcomes and saving costs," said Eagleton.
About Centerline Biomedical
Centerline Biomedical, Inc. was founded in November 2014 and is based on technology developed at the Cleveland Clinic. Centerline's mission is to develop advanced navigation systems that initially target interventional vascular procedures.