Centerline Biomedical Closes $10 Million Financing, Announces Key Appointments and Numerous Corporate Advancements

Mar 10, 2020 | News

“Centerline Biomedical, Inc. (Centerline), a Cleveland Clinic spinout company, is announcing updates regarding its IOPS™ platform technology designed to improve patient and caregiver safety, reduce procedure time, limit harmful radiation and contrast dye, and overall reduce costs to healthcare systems while improving access to care.

The company has closed $10 million in funding in its first senior security offering in 2019 which will bolster key talent needs and allow for commercialization. Limited launch commercialization is beginning in the second quarter of 2020, with full launch beginning in the second half of the year. Early indications from voice-of-customer feedback are that the technology fills a critical patient, physician and healthcare provider need, which is supported by the number of evaluations in process.

To maintain this momentum, Centerline is aggressively hiring key talent across the organization. Newly-appointed Head of R&D Sreenivasan “Sreeni” Narayanan brings 25 plus years of experience in medical technology startups as well as multinationals, most notably in leadership roles at Siemens Healthineers where he recently served as Senior Director of R&D Strategy in the Advanced Therapy division. Sonya Snyder fills another key senior role as Head of Operations. Mrs. Snyder’s tremendous experience includes over 20 years in manufacturing and operations, 15 of which were in the medical device sector launching more than 40 new products. Trained by the Shingijutsu group in Japan, she is an expert in Lean manufacturing methodologies.”