Simpson Interventions announced that it closed its Series C financing and rebranded to Elumn8 Medical.
The Campbell, California–based company plans to use the undisclosed amount of proceeds raised in the Series C to support the continued development of its Acolyte image-guided crossing and re-entry catheter system.
Acolyte aims to treat coronary chronic total occlusions (CTOs). It remains investigational in pre-market clinical trials. The system has FDA breakthrough device designation and was accepted into the FDA’s Total Product Life Cycle Advisory Program (TAP).
During coronary CTO procedures, it provides real-time intravascular imaging to support controlled guidewire true-lumen crossing and targeted re-entry into the correct channel for blood flow distal to the lesion.
Acolyte integrates optical coherence tomography (OCT) imaging directly into a crossing and re-entry catheter. Elumn8 hopes to improve procedural efficiency, predictability and safety. It aims to enable wire delivery during concurrent fluoroscopy and OCT visualization.
Meanwhile, the company’s rebrand aims to reflect its evolution and focus on advancing image-enabled technologies. It also references the eighth medical device company founded by Dr. John Simpson, according to a news release. Simpson made significant advancements in coronary and peripheral interventions.
Commentary from Elumn8 officials
Joe Knight, Elumn8 Medical CEO, said:
“We are excited to secure the initial close of our Series C financing and to introduce Elumn8 Medical as the next chapter in our company’s growth. This funding strengthens our ability to execute on our clinical and regulatory strategy. We are grateful to the investors who have demonstrated confidence in our vision for this important therapeutic option.”
Simpson, founder and chief medical officer, said:
“The progress we are seeing in the Acolyte clinical program reinforces our belief that image-guided CTO crossing and re-entry represents an important advancement for interventional cardiology. Further, I am thrilled by our rebranding to Elumn8 Medical, as it better captures our mission to visualize complex coronary anatomy and enable more consistent, minimally invasive treatment of CTOs.”
