# Centerline Biomedical

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/centerline-biomedical

- Industry: Healthcare IT
- Headquarters: Cleveland, US
- Website: www.centerlinebiomedical.com
- Total disclosed funding: $33M
- Latest round: Series B (Jun 27, 2022)
- Investors on record: 6

## About

Centerline Biomedical, Inc. is a US-based company focused on advancing endovascular navigation technology to enhance procedural accuracy in healthcare. Its flagship product, the IOPS®, provides real-time guidance, significantly improving safety during medical procedures.Centerline Biomedical, Inc. specializes in advanced endovascular navigation technology, prominently featuring its Intra-Operative Positioning System (IOPS®). Founded in 2014 in Cleveland, US, the company has completed 6 deals, with its most recent funding round in June 2022 that raised USD 33 mn in Series B funding led by Cleveland Clinic Ventures. The CEO is Gulam Khan, with Philip Rackliffe also serving as a key executive. The company has not reported any subsidiaries or pivots in business strategy.Centerline Biomedical specializes in advanced endovascular navigation technology, primarily through its flagship product, the Intra-Operative Positioning System (IOPS®), which has received FDA 510(k) clearance. IOPS® enhances procedural accuracy and safety by providing real-time interactive navigation and high-quality 3D image guidance, significantly reducing reliance on traditional X-ray fluoroscopy that exposes healthcare providers and patients to harmful radiation. The technology is designed for use in various endovascular procedures, addressing the critical issue of radiation exposure that medical professionals face, particularly interventional cardiologists and vascular surgeons. Centerline Biomedical markets its IOPS® technology in North America and Europe, targeting hospitals, surgical centers, and healthcare providers specializing in vascular and interventional procedures.Revenue generation for Centerline Biomedical is primarily derived from the sale and deployment of its IOPS® navigation technology to healthcare institutions. The company engages in direct business-to-business transactions, where hospitals and surgical centers purchase the IOPS® system, which may include service agreements for ongoing support and software updates. The transaction structure involves upfront licensing fees or purchase costs for the technology, complemented by potential subscription-based models for software services. Additionally, partnerships with medical device distributors may facilitate broader market access, ensuring effective support for end users during the adoption of IOPS®. Specific pricing plans for the IOPS® system and associated services are determined based on contracts with healthcare providers, reflecting the value of improved safety and operational efficiency in endovascular procedures.In June 2022, Centerline Biomedical, Inc. raised USD 33 mn in Series B funding, which will be utilized for the development of new surgical applications, accelerating commercial sales, and enhancing its clinical evidence repository. The company aims to expand its market presence in North America and Europe while exploring potential entry into additional international markets. These initiatives are expected to align with the company’s growth strategy in the upcoming years.

## Funding rounds

- Series B, Jun 27, 2022, $33M — GE Healthcare, JobsOhio, Jumpstart Ventures, G2 Venture Partners, Cleveland Clinic Ventures, RIK Enterprises

## Investors

- GE Healthcare — Series B
- JobsOhio (https://capitalatlas.ai/funds/jobsohio) — Series B
- Jumpstart Ventures (https://capitalatlas.ai/funds/jumpstart-ventures) — Series B
- G2 Venture Partners (https://capitalatlas.ai/funds/g2-venture-partners) — Series B
- Cleveland Clinic Ventures (https://capitalatlas.ai/funds/cleveland-clinic-ventures) — Series B
- RIK Enterprises (https://capitalatlas.ai/funds/rik-enterprises) — Series B