Novo Holdings Expands MedTech Portfolio with Investment in Route 92 Medical

$50 Million Series F Extension Equity Financing to accelerate development and commercialization of neurovascular intervention devices to treat acute ischemic stroke

Noel Jee, Partner, Growth Investments, joins the Route 92 Board of Directors

San Francisco and San Mateo, Calif., September 23, 2024 – Novo Holdings, a leading international life science investor, today announced a $50 million investment in Route 92 Medical, Inc., a privately held medical technology company dedicated to improving outcomes for patients undergoing neurovascular intervention.

Novo Holdings joined returning investors U.S. Venture Partners, Norwest Venture Partners, InnovaHealth Partners, and The Vertical Group in the company’s Series F extension. In connection with the investment, Noel Jee, Partner, Growth Investments, Novo Holdings US, joins the Route 92 Board of Directors.

Proceeds from the financing will be used to accelerate the global commercialization of the company’s neurovascular intervention portfolio, and to pursue regulatory authorizations in new geographies. Route 92 Medical has streamlined neurovascular intervention by creating a suite of reperfusion and access systems leveraging unique designs, all featuring the patented Tenzing® delivery catheter. These products are designed to work harmoniously as complete systems to improve the efficiency of endovascular thrombectomy procedures, enabling clinicians to quickly restore blood flow to a patient’s brain following acute ischemic stroke, the most common type of stroke affecting patients today.

Route 92’s solutions for neurovascular interventional procedures include its FreeClimb and HiPoint Catheter Systems and Monopoint^® Operating Platform, powered by its Tenzing^® Delivery Catheter. Route 92’s technology is designed to simplify and streamline stroke treatment, creating single-operator control over all elements, with the goal of reducing procedure time and cost while improving patient outcomes.

“Our company is focused on improving outcomes for patients suffering from acute ischemic stroke, and we are continuing to build our industry-leading commercial and support teams to bring our Tenzing, FreeClimb, HiPoint, and Monopoint products to the market,” said Tony Chou, Chief Executive Officer and Founder at Route 92 Medical. “Novo Holdings’ investment validates our clinical and commercial performance and will help us better serve patients and our interventionalist customers.”

“Stroke is an acute event and the difference between life and death is often determined by ease of access and rapid removal of the entire clot. Route 92 Medical’s reperfusion systems provide practice-changing, much-needed innovation for clinicians and patients,” said Jee. “We look forward to supporting Route 92 Medical’s management team in their efforts to improve care for patients.”

About Route 92 Medical, Inc.
Route 92 Medical is on a mission to improve outcomes for patients undergoing neurovascular intervention through cutting-edge engineering and innovative product design. Founded by physicians, the company collaborates with leading neurovascular clinicians to solve the biggest challenges in neurointervention and deliver meaningful, differentiated solutions that promote clinical success. For more information, visit www.r92m.com or follow the company on LinkedIn.

About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.

Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S and manages an investment portfolio with a long-term return perspective. Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Principal Investments, Planetary Health Investments and Asia teams, Novo Holdings invests directly in life science companies at all stages of development. In addition, it manages a broad portfolio of Capital Investments, including equities, bonds, fixed income, real estate, and infrastructure assets. As of year-end 2023, Novo Holdings had total assets of EUR 149 billion.  www.novoholdings.dk

About the Novo Nordisk Foundation
Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.