SetPoint Medical, a Valencia, Ca.-based biomedical technology company developing a bioelectronic therapy for inflammatory diseases, secured $15m in Series C1 equity financing.
Backers included the addition of a new strategic investor, along with participation from existing investors (which included Action Potential Venture Capital and Morgenthaler Ventures, Foundation Medical Partners, Topspin Partners, Covidien Ventures, Action Potential Venture Capital Limited and Boston Scientific). In conjunction with this financing, Juan-Pablo Mas, APVC, will join the Board of Directors of SetPoint.
The company, which has raised $43m in total Series C round, intends to use the funds to advance its clinical trials to assess safety and efficacy of its bioelectronic therapy in rheumatoid arthritis (RA) and Crohn’s Disease, and to advance the therapy toward commercialization.
Led by Anthony Arnold, chief executive officer, SetPoint is developing a novel proprietary bioelectronic medicine platform to treat a variety of inflammation-mediated autoimmune diseases, using an implanted device to stimulate the vagus nerve, activating the body’s natural Inflammatory Reflex to produce a systemic anti-inflammatory effect.
FinSMEs
08/09/2015