CoAxia raises $11.5 million in equity financing

The investment is an extension of the previously announced C round and will allow CoAxia to continue its Sentis pivotal FDA trial of NeuroFlo Perfusion Augmentation Therapy in acute ischemic stroke, as well as other ongoing feasibility studies to evaluate use of the same technology in additional stroke populations.

Canaan Partners and Prism Venture Partners co-led the recent $11.5 million financing, with Baird Venture Partners, Affinity Capital Management, Johnson and Johnson Development and SVB Capital Partners also participating as major investors.

Andrew Weiss, president and CEO of CoAxia, said: “Our objective for the coming 24 months is to finish enrollment in our Sentis pivotal trial, demonstrate the feasibility of NeuroFlo in several large stroke patient populations, and begin positioning CoAxia for future commercialization.”