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Cerevast Therapeutics, Inc. Nails Down $6.6 Million for Ultrasound Stroke Device


12/13/2011 8:15:22 AM

Redmond, WA-based Cerevast Therapeutics has raised $6.6 million in venture capital to develop a new ultrasound technology to treat stroke patients. The company, led by Icos veteran Bradford Zakes, said today that that it raised the money from seven investors in a Series C preferred stock offering. The round could be worth as much as $15.7 million over time, according to a regulatory filing. The money comes in addition to about $3.2 million from a series of financings the company has put together since it was formed in September 2009, following the purchase of assets from a previous company, ImaRx Therapeutics. The new financing was led by an unnamed “global medical device company” and included angel investors, Zakes says.

Read at Xconomy
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