The proceeds from Imperative’s $260 million series D financing will help complete Truvic’s R&D efforts as well as support its own commercialization plans—with enough left over to help build out a stable of future subsidiaries. (Wikimedia Commons)

Imperative Care is moving quickly to establish itself as a major stroke device provider, concurrently announcing a funding round topping a quarter-billion dollars alongside the acquisition of a clot-removal company.

Truvic Medical will serve as Imperative’s wholly owned subsidiary following the stock-for-stock deal, maintaining its brand name and its founding leadership team. The company—which began life as a project inside Imperative before being spun out in early 2020—is developing thrombectomy hardware for the arms and legs that operates without the use of clot-dissolving medications.

The proceeds from Imperative’s $260 million series D financing will help complete Truvic’s R&D efforts as well as support its own commercialization plans—with enough left over to help build out a stable of future subsidiaries focused on different vascular conditions and areas of stroke care, the company said.

“In addition to our initial focus in the field of stroke, we see natural areas of synergy across unmet patient needs, and we are committed to accelerating those paths to commercialization,” Imperative’s chairman and CEO, Fred Khosravi, said in a statement.

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“To achieve that objective, and beginning with Truvic, we are creating a network of wholly owned subsidiaries that will leverage synergies where appropriate while at the same time giving the development programs the independence, specialization and focus they need to bring important vascular intervention products to the market to meet patient needs as rapidly as possible,” Khosravi added.

The funding round was led by D1 Capital Partners and included backing from HealthCor Investments, Innovatus Capital Partners, Ally Bridge Group, Bain Capital Life Sciences, Ascension Ventures, Delos Capital, Rock Springs Capital and Amed Ventures.

Currently, Imperative counts 510(k) clearances for two product platforms: a family of large-bore intracranial access and navigation catheters, and the Zoom Aspiration System for ingesting and removing clots from an ischemic stroke.

The company previously raised $85 million in December 2019, co-led by Ally Bridge and Bain Capital Life Sciences, after gaining the FDA’s green lights earlier that year.