NEW YORK, July 10, 2017 (GLOBE NEWSWIRE) -- Cerus Endovascular Ltd., one of Mid Atlantic Bio Angels’ (MABA) portfolio companies, recently announced receipt of CE Mark approval for the commercial sale of its Contour Neurovascular System™ for the treatment of intra-cranial aneurysms (IAs) across the European Union (EU). The Contour Neurovascular System™ is a unique, fine mesh braid that is deployed at the neck of the aneurysm sac and provides a combination of flow diversion and flow disruption through a single device implant. MABA members provided a substantial portion of Cerus’s financing over multiple rounds and have actively participated in management as directors of the company.
“Among the key factors we consider in our investment decisions are a company’s ability to successfully develop and implement a go-to-market strategy. Cerus’s CE Mark approval is an important step toward commercialization of its cutting-edge medical device,” said Stephen M. Goodman, one of MABA’s co-founders and a partner at Pryor Cashman LLP in New York City. “We are pleased that the judgment of our members who invested in Cerus has been rewarded with the company’s success to date, and look forward to its completion of future milestones.”
Key attributes of the Contour Neurovascular System include that it targets the neck of the aneurysm away from the vulnerable dome, it is self-anchoring for stability, it is re-sheathable for precise placement and since it is deployed across the neck, sizing criteria are less stringent, making it easier to use. Further, based on patients treated to date in a compassionate use setting, Contour achieved a 100% implant success rate with an excellent safety profile. Cerus believes that the Contour represents a true paradigm shift in the treatment of intra-cranial aneurysms and is currently working with the United States Food and Drug Administration to pass regulatory milestones in the US.
About Cerus Endovascular
Founded in 2013, Cerus Endovascular is a privately-held, commercial-stage medical device company engaged in the design and development of highly differentiated and proprietary interventional neuroradiology devices and delivery systems for the treatment of acute, life-threatening neurological conditions, specifically, intracranial aneurysm. The company’s first marketed product, the Contour Neurovascular System™, is a pre-shaped structure of fine mesh braid with shape memory properties that is delivered to the aneurysm via an endovascular micro-catheter and is currently approved for sale across the EU. The company is also developing a pipeline of complementary devices, leveraging the design concept of the Contour Neurovascular System™ to address the full range of size, type and location of cerebral aneurysms with which a patient can present to the clinician.
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.