Jupiter Endovascular Exits Stealth With $21M in New Financing to Fund Pivotal Trial for Pulmonary Embolism
Business Wire 15-Aug-2024 10:00 AM
Carl J. St. Bernard Appointed as Chief Executive Officer
Jupiter Endovascular, Inc., a medical technology startup developing a new class of endovascular procedures using Endoportal ControlTM to bring the precision and control of direct surgical access to catheter-based interventions, announced today that it has exited stealth mode with a $21 million new round of financing. Sonder Capital was a key participant in the round that included participation from multiple strategic investors. The funding will be used to support the company's upcoming pivotal trial for Pulmonary Embolism and development of additional clinical applications of the Endoportal ControlTM technology.
"For decades, the field of catheter-based therapies has been limited by the technological constraints of catheters that lose stability and control within the anatomy," said Kate Garrett, Managing Partner at Sonder Capital. "Jupiter Endovascular has developed a revolutionary approach with the potential to overcome these constraints by providing clinicians the precision and control of a surgical approach while maintaining the minimally invasive profile of an endovascular procedure. This novel approach may address a significant unmet clinical need in patients with disease residing in complex cardiovascular anatomies, such as the pulmonary arteries."
The company has appointed Carl J. St. Bernard as Jupiter Endovascular's Chief Executive Officer. St. Bernard, an industry veteran with a wealth of medical technology leadership experience, joins Jupiter from Alta Biomaterials, where he held the role of President and CEO. He has over 30 years of experience in the life sciences arena and has held senior executive positions at CeloNova BioSciences, Tryton Medical, Johnson & Johnson Vision, LifeCell, Cordis, and GE Healthcare. He is also an AdvaMed board director.
"I am very excited to join the Jupiter Endovascular team. The Endoportal ControlTM technology, which leverages Jupiter's unique and exclusive intellectual property to create a catheter-based device that flexibly navigates through a patient's vasculature before fixing into a stable position, is designed to give interventionalists the confidence and support they need to deliver a prescribed cardiovascular therapy. This represents a generational advance in technology with the potential to revolutionize the treatment of millions of patients worldwide," said St. Bernard. "We are thrilled to partner with Sonder Capital and our other highly valued investors as we bring this innovation to the clinic and create the foundation for our entry into the Pulmonary Embolism market and future clinical areas where we see a compelling opportunity for Endoportal ControlTM to improve the lives and well-being of patients."
"We are excited to welcome Carl St. Bernard as the CEO of Jupiter Endovascular," said Jay Watkins, Co-Chair and Partner at Sonder Capital. "Carl brings a wealth of experience and a proven track record of success in bringing novel technologies and therapies to market. His vision and leadership will be instrumental as the Jupiter team enters this next clinical phase. We are confident that, under Carl's guidance, Jupiter Endovascular will address a significant clinical need that has remained unmet for decades."
About Jupiter Endovascular
Jupiter Endovascular is a medical technology startup developing the endoportal procedure, a new class of endovascular procedures using Endoportal ControlTM to bring the precision and control of direct surgical access to catheter-based interventions. The procedure uses an endoportal device that navigates flexibly through the vasculature via percutaneous access. Once in position, the endoportal device can be fixed into a stable state to deliver an interventional treatment with surgical-like precision and control from an endovascular access point. To learn more about Jupiter Endovascular, visit www.jupiterendo.com.
About Sonder Capital
Sonder's team of veteran investors, innovators, founder-operators, and company builders is known not only for their individual achievements, but also for their collective success in creating, funding, and leading private and public companies that have transformed healthcare for millions of patients globally — including Intuitive Surgical (NASDAQ:ISRG), Procept Biorobotics (NASDAQ:PRCT), Shockwave Medical, Auris Health, and Reflexion Medical, among others. Sonder's extensive network of limited partners is global and includes industry leaders, high-net-worth individuals, and leading family offices focused on investing in game-changing healthcare technologies. Sonder Capital was co-founded in 2019 by healthcare luminaries Jay Watkins and Fred Moll, M.D.
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