Jupiter Endovascular bets catheter control unlocks PE therapy: SPIRARE pivotal trial

Neptune Medical spinout Jupiter won FDA clearance for its Vertex catheter, read out first-in-human PE data, and raised $40M+ to run a pivotal trial.

Jupiter Endovascular

它在赌什么That catheter control is why endovascular therapy is underused — flex to reach a target, lock rigid via saline, and PE treatment becomes possible.在做还没上线

做的是什么生意

A Menlo Park medtech startup selling the Vertex Pulmonary Embolectomy System, a catheter platform whose TFX fixation mechanism stabilizes itself inside blood vessels for clot-removal procedures.

启动资金：Seeded with $21M carved out of Neptune Medical's $97M Series D in 2024; oversubscribed Series B over $40M closed October 2025

起因

The TFX concept was developed inside Neptune Medical starting in 2020. In July 2024 Neptune spun the program out as Jupiter Endovascular, allocating $21 million of its $97 million Series D to the new company, with Sonder Capital as a major contributor. Carl J. St. Bernard took over as CEO the same month, and Jupiter targeted acute, intermediate-risk pulmonary embolism as its first indication — a disease where one in three patients gets incomplete clot removal today.

新闻MD+DI: Jupiter spins out of Neptune

经过

Jupiter ran SPIRARE I (NCT06571760), a 10-patient first-in-human study at two European sites, and on September 12, 2025 the FDA cleared the Vertex catheter via 510(k) for insertion of endovascular devices. At TCT 2025 on October 26, results showed no major adverse events within 48 hours, a 32% drop in mean pulmonary artery pressure, and a 71% improvement in dyspnea score at 48 hours. Days earlier, Jupiter announced an oversubscribed Series B past its $40M target, led by Sonder Capital, to fund SPIRARE II — a pivotal trial enrolling up to 145 patients at up to 25 U.S. and European sites (NCT06576427).

新闻Jupiter: Series B over $40M 新闻Cardiovascular News: Series B coverage

结果

Live and enrolling in its pivotal trial: SPIRARE II is recruiting as of October 2025, with proceeds earmarked for completing the trial and preparing for commercialization.

新闻TMCnet: SPIRARE I results at TCT

背景

Jupiter Endovascular's bet is that pulmonary embolism is undertreated because of catheters, not because of a lack of therapies. Every catheter system faces a tradeoff: flexible enough to snake through the heart and tortuous vessels means too floppy to hold position; stiff enough to hold position means it can injure the anatomy. Jupiter's TFX technology, developed inside Neptune Medical from 2020, tries to eliminate the tradeoff — the catheter travels relaxed, then locks rigid against the vessel wall under saline pressure at the target site.

Neptune carved the program out as a standalone company in July 2024 with $21 million of its $97 million Series D, and Jupiter chose acute, intermediate-risk pulmonary embolism as its first market. The company enrolled 10 patients in SPIRARE I (NCT06571760) at two European sites, and at TCT 2025 reported no major adverse events within 48 hours, a 32% intraprocedural drop in mean pulmonary artery pressure, and a 71% improvement in dyspnea scores at 48 hours. The FDA had already cleared the Vertex catheter via 510(k) in September 2025.

The data landed between two capital milestones: the FDA clearance in September and an oversubscribed Series B surpassing $40M announced in October 2025, led by Sonder Capital. The round funds SPIRARE II (NCT06576427), a pivotal trial enrolling up to 145 patients at up to 25 U.S. and European sites, and preparation for commercialization.

这件事要成立，得有什么

Attacking catheter control, rather than building another thrombectomy device, let Jupiter target every endovascular procedure while starting with the highest unmet need, PE.
The $21M carve-out from Neptune's Series D gave the spinout a funded, dedicated team and technology with years of animal testing behind it.
FDA 510(k) clearance of the delivery catheter de-risked the platform before the pivotal trial, and positive FIH data arrived just before the Series B close.

可借鉴之处

A medtech startup can differentiate on delivery rather than the treatment itself: fixing catheter control opened a PE pathway existing devices couldn't safely access.

后续进展

As of October 26, 2025, Jupiter Endovascular holds FDA 510(k) clearance for the Vertex catheter, has reported positive first-in-human results for its PE system at TCT 2025, and is enrolling SPIRARE II, its 145-patient pivotal trial across up to 25 U.S. and European sites. The oversubscribed Series B past $40M — led by Sonder Capital with Senvest Management, LB Investment, and a strategic corporate investor — is funding the pivotal study and commercialization preparation.

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