NEW YORK, Feb. 25, 2015 (GLOBE NEWSWIRE) -- Mid-Atlantic Bio Angels (MABA) announces today that several of its members have closed a new $3M funding round for UK-based neurovascular technology company, Cerus Endovascular, Ltd., which brings MABA members' total investment in the company, after three rounds, to nearly $4.4M.
This funding round, which was only open to existing shareholders in Cerus, is expected to take the company through several significant milestones, including bringing its Nexsys aneurism occlusive device into clinical trials, achieving a CE mark, and the initiation of marketing and revenue generation.
"Mid Atlantic Bio Angels is an organization of early stage investors who are looking for true innovation in the life sciences arena, and the investors from our group have long believed in the potential of Cerus Endovascular's Nexsys technology," said Yaniv Sneor, MABA Co-Founder and President of Blue Cactus Consulting. "Our members' participation in the latest round signifies that dedication."
About Mid Atlantic Bio Angels
Mid Atlantic Bio Angels (http://bioangels.net) is a group of active angel investors, which meets in New York City monthly (except July and August) solely to hear from pre-screened early-stage life science companies. MABA members consist of individuals from Delaware to Massachusetts with significant expertise and experience in the biotechnology, pharmaceutical and healthcare industries, including former and current corporate executives, doctors and Ph.D. scientists with product development backgrounds, successful medical entrepreneurs and analyst/investors focused on life sciences. MABA's goal is to create an environment where the depth of investors' knowledge coupled with the pre-screening of presenting companies enhances the potential for meaningful investment.
About Cerus Endovascular
Cerus Endovascular Ltd designs and develops interventional neuroradiology devices and delivery systems. The company develops e-clipse, an aneurysm occlusive device that addresses the current neurovascular aneurysm procedures attempted by surgical clipping, minimally invasive metal coils and liquid embolics. The company was founded in 2011 and is based in Oxford, United Kingdom.