Jupiter Endovascular Closes Oversubscribed $40M+ Series B

Jupiter Endovascular, a startup developing a new class of endovascular procedures using its Transforming Fixation (TFX) tech, closed an oversubscribed Series B financing that passed its $40 million target. The round was led by Sonder Capital, with participation from Senvest Management, LB Investment, and a new strategic corporate investor.

The company said the proceeds will be used to finish Jupiter’s ongoing SPIRARE II pivotal clinical trial. It will also be used to prepare for commercialization and develop new clinical applications for its TFX platform technology.

The financing arrives between two major achievements: The Vertex catheter incorporating TFX’s U.S. Food and Drug Administration (FDA) 510(k) clearance last month, and an upcoming presentation of first-in-human results for the Vertex pulmonary embolectomy system with TFX from the SPIRARE I trial at the Transcatheter Cardiovascular Therapeutics Conference meeting later this month.

TFX, integrated into the Vertex system, was engineered to provide new stability and control to catheter interventions while protecting cardiovascular anatomy. Its goal is to enable interventionists to treat anatomical sites that aren’t safely or easily accessible with traditional endovascular approaches.

The Vertex device is delivered in a flexible, relaxed state over a guidewire to a target area in the vasculature. It’s then quickly pressurizes with saline to fix it in a stable position for intervention, and returned to its relaxed state to navigate to another target location or for removal.

“Closing this oversubscribed Series B financing round reflects strong conviction in our mission to rewrite the rules of endovascular medicine using TFX technology,” said Carl J. St. Bernard, CEO of Jupiter Endovascular. “We’re energized by the support of this distinguished syndicate of investors as we tackle one of the greatest unmet needs in transcatheter interventions – the lack of stability and control physicians face while operating in complex cardiovascular anatomies – starting with pulmonary embolism.”

SPIRARE II is a prospective, single-arm, multicenter trial that will enroll up to 145 patients with acute, intermediate-risk pulmonary embolism (PE) treated with Vertex at up to 25 U.S. and European sites. Trial endpoints will characterize procedural and clinical benefits of PE treatment with TFX using the Vertex system, across measures of safety, right heart function, and clinical improvement from the time of the procedure to 30 days post-procedure.