# CereVasc

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cerevasc

- Industry: Medical Devices & Equipment
- Headquarters: Boston, US
- Website: www.cerevasc.com/
- Total disclosed funding: $198M
- Latest round: Series C (Jun 4, 2026)
- Investors on record: 6

## About

Based in the United States, CereVasc, Inc. operates as a healthcare-focused medical device developer. The company provides minimally invasive neurological treatment solutions, including cerebrospinal fluid shunt systems and catheter-based delivery technologies.

Based in Massachusetts, US, and founded in 2014 by co-founders Carl Heilman MD, Adel Malek Ph.D., Daniel Levangie, and Patrick Sullivan, CereVasc, Inc. The company focuses on developing cerebrospinal fluid (CSF) shunt systems, notably the eShunt System, designed to treat communicating hydrocephalus. The business has progressed through clinical-stage development supported by multiple funding rounds, including Series A, B, and C financings. Founded by Patrick Sullivan, Daniel Levangie, Adel Malek, and Carl Heilman, the company was co-founded by its CEO, Daniel Levangie. As of June 2026, the company is led by its CEO, Daniel Levangie. In June 2026, CereVasc, Inc. raised USD 85 million in series C funding led by Piper Sandler, with participation from Johnson & Johnson Innovation, Medtronic Ventures, Bain Capital, and Perceptive Advisors.

The company works with healthcare providers, neurosurgeons, and clinical researchers to deliver minimally invasive neurological treatment solutions. Its primary offering, the eShunt System, is an investigational endovascular cerebrospinal fluid shunt designed to treat communicating hydrocephalus without invasive surgery. The system integrates implantable CSF shunts with catheter-based delivery components to enable percutaneous procedures. CereVasc’s team of engineers, clinicians, and researchers focuses on improving patient outcomes by reducing complications associated with traditional surgical interventions. Its solutions are targeted at hospitals, medical centers, and specialists managing neurological disorders globally.

The company’s revenue is generated by developing and commercializing medical device solutions for neurological treatments, primarily through partnerships with healthcare institutions and distributors. CereVasc follows a B2B model, supplying its proprietary eShunt System and related technologies to hospitals and clinical providers upon regulatory approval. The company also collaborates with research institutions and clinical trial partners, which may generate milestone-based payments or strategic funding support. Future revenue streams are expected to expand through product commercialization, licensing, and distribution agreements within the healthcare ecosystem.

The company will use the June 2026 funding to advance the STRIDE pivotal trial and prepare for FDA premarket approval submission and commercialization.

## Funding rounds

- Series C, Jun 4, 2026, $85M — Bain Capital, Johnson & Johnson Innovation, Piper Sandler, Medtronic Ventures, Perceptive Advisors
- Series B, May 13, 2024, $70M — Bain Capital, Perceptive Advisors
- Series A, Jun 9, 2020, $44M — Perceptive Advisors, ATON Partners

## Investors

- Perceptive Advisors (https://capitalatlas.ai/funds/perceptive-advisors) — Series A, Series B, Series C
- ATON Partners (https://capitalatlas.ai/funds/aton-partners) — Series A
- Bain Capital (https://capitalatlas.ai/funds/bain-capital) — Series B, Series C
- Johnson & Johnson Innovation (https://capitalatlas.ai/funds/johnson-johnson-innovation) — Series C
- Piper Sandler (https://capitalatlas.ai/funds/piper-sandler) — Series C
- Medtronic Ventures (https://capitalatlas.ai/funds/medtronic-ventures) — Series C