Magnendo Secures $18M Series A Financing to Transform Endovascular Access for Stroke Intervention
MIT spinout to accelerate product development and first-in-human studies of its magnetic robotic navigation platform designed to dramatically improve the speed and reliability of neuro-endovascular procedures
NEWTON, Mass., July 24, 2026 (GLOBE NEWSWIRE) -- Magnendo Corp., an MIT spinout developing magnetic robotic navigation technology for neuro-endovascular intervention, today announced the closing of an $18 million Series A financing led by Penumbra, Inc., the world’s leading thrombectomy company, with participation from a syndicate of new and existing institutional investors. The financing will support the productization of Magnendo's robotic platform and preparation for first-in-human clinical studies.
Mechanical thrombectomy has transformed the treatment of acute ischemic stroke, yet rapidly reaching the treatment site remains one of the most technically demanding and time-sensitive aspects of the procedure. Navigating from the vascular access site to the clot through complex and often highly tortuous patient anatomy continues to be a major procedural bottleneck, contributing to prolonged procedure times and poorer outcomes in a significant percentage of patients.
Magnendo is developing a robotic system that combines magnetically steerable guidewires with robotic control, advanced medical imaging, and intelligent navigation software to improve endovascular access. The system is designed to help physicians navigate complex vascular anatomy more quickly, consistently, and reliably while remaining compatible with existing clinical workflows and commercially available devices.
The company has demonstrated encouraging preclinical results in collaboration with leading neurointerventional physicians, showing the potential to substantially reduce navigation times while improving procedural consistency across operators and anatomies. The proceeds from the Series A financing will support the productization of Magnendo's preclinically validated robotic system and magnetic guidewires and advance the company’s first clinical platform toward first-in-human studies.
"Our mission is to redefine endovascular access through magnetic robotic navigation, enabling physicians to reach the treatment site faster, more reliably, and with greater consistency," said Yoonho Kim, Ph.D., Founder and CEO of Magnendo. "This financing enables us to accelerate the productization of our preclinically validated platform and prepare for first-in-human studies. We are grateful for Penumbra's confidence in our team and look forward to bringing this technology closer to physicians and patients."
"Magnendo has developed an elegant and pragmatic approach to one of the most challenging aspects of endovascular intervention," said Shruthi Narayan, President of Penumbra. "We believe the company's focus on improving navigation while integrating into existing clinical workflows has the potential to meaningfully advance neurovascular care, and we are excited to support the team as they move toward clinical translation."
About Magnendo
Magnendo Corp. is an MIT spinout developing magnetic robotic navigation technology for endovascular intervention. By combining magnetically steerable guidewires with advanced robotics, medical imaging, and intelligent navigation software, Magnendo aims to help physicians reach the treatment site faster, more reliably, and with greater consistency. Its mission is to make life-saving endovascular procedures faster, safer, and more accessible for every patient. For more information, visit www.magnendo.com or connect on LinkedIn.
About Penumbra
Penumbra, Inc., the world’s leading thrombectomy company, is focused on developing the most innovative technologies for challenging medical conditions such as ischemic stroke, venous thromboembolism such as pulmonary embolism, and acute limb ischemia. Our broad portfolio, which includes computer assisted vacuum thrombectomy (CAVT), centers on removing blood clots from head-to-toe with speed, safety and simplicity. By pioneering these innovations, we support healthcare providers, hospitals and clinics in more than 100 countries, working to improve patient outcomes and quality of life. For more information, visit www.penumbrainc.com and connect on Instagram, LinkedIn, and X.
Contacts
Media: info@magnendo.com
Magnendo Overview
Magnendo Secures $18M Series A Financing to Transform Endovascular Access for Stroke Intervention
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