Scientia Raises $50M to Develop Devices for Stroke, Cancer Treatment
June 4, 2021
Scientia announced it has raised $50M in growth equity financing from Vivo Capital, a Palo Alto, CA-headquartered global healthcare investment firm. The financing will be used to accelerate sales, marketing, and new product development in both its core neurovascular stroke market as well as adjacent markets in peripheral vascular and interventional oncology.
“We are excited to partner with Vivo as we embark on our next stage of growth,” says John Lippert, founder and CEO of Scientia. “We’ve had a long-standing vision for enhancing patient treatment, which now can be accelerated with the financing.”
Scientia Vascular is developing not only a suite of devices for use in neurovascular stroke treatment and interventional oncology but also its own automated manufacturing technology to produce those devices. The company designs, develops and manufactures from its headquarters and ISO 14385 facility in Salt Lake City, Utah.
“This capital raise is a recognition of the innovative technologies Scientia is bringing to market to benefit patients and improve healthcare,” said Kelvyn Cullimore, president and CEO of BioUtah.
Joseph Siletto, Managing Director at Vivo Capital, said, “Neurovascular surgery and in particular, stroke treatment, is one of the most exciting segments in the medical device sector. We have been searching for a platform medical device company in the neurovascular surgery space for a long time. We are honored to partner with John Lippert, a pioneer in the field, and the veteran team he has assembled at Scientia Vascular.”
“Scientia has been tremendously successful with limited resources since its commercial launch in 2018. The company recently received FDA approval for its Plato® 17 microcatheter which leverages Scientia’s microfabrication technology to enhance trackability, control, and stability. Vivo looks forward to helping the Company continue to launch new products and expand globally,” added Nathan Dau, Executive Director at Vivo Capital.
In less than three years since commercial launch, Scientia’s Aristotle® guidewires have become an essential tool for many of the nation’s top neurosurgeons.