Centerline Biomedical raises $33M

2020 10 15 21 42 4157 Money Bag Grant Award 400

Centerline Biomedical has secured $33 million in a series B equity financing.

The funding round was led by the Cleveland Clinic, with participation from GE Healthcare, RIK Enterprises, Jobs Ohio, Jumpstart Ventures, and G2 Group Ventures. Centerline said it would use the funds to expand into new surgical applications, drive commercial sales, and build its clinical evidence repository.

Designed to provide real-time, 3D color visualization and navigation of the human vascular system, the firm’s flagship product, Intra-Operative Positioning System (IOPS), uses algorithms, electromagnetic tracking, and smart sensor-equipped surgical devices to generate vascular maps. IOPS was developed at the Cleveland Clinic and has received U.S. Food and Drug Administration (FDA) 510(k) clearance.

Centerline is currently launching the system at select sites in the U.S. and plans to make it available in Europe and other key markets in 2023.

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