Irvine-based ClearPoint Neuro Inc. has changed its name from MRI Interventions and has a Nasdaq ticker symbol “CLPT.”
“We have evolved to become two companies in one,” Chief Executive Joe Burnett said in a statement.
“On one side, we are a platform medical device company, consistently delivering double digit growth, and continuing to expand our installed base of neurosurgery centers in the U.S.
“On the other side of the business, we are a gene therapy and biologics enabling company, providing navigation, drug delivery and case support to more than 20 companies in this exciting and growing space,” he said.
Its Clearpoint Neuro Navigation System Platform, which is used in more than 60 clinical trial sites, guides surgeons with “submillimetric accuracy” during minimally invasive operations on the brain.
In 2019, the company reported revenue jumped 53% to $11.1 million and its loss narrowed to $5.5 million from a $6.2 million loss a year earlier. It forecast revenue this year to grow 25% to 35% to about $14 million to $15 million.
In January, the company said it received a $17.5 million investment from PTC Therapeutics Inc. and Petrichor Healthcare Capital Management.
