Cervel Neurotech raises $11M for device-based depression therapy
June 9, 2014 by Arezu Sarvestani
California-based medical device maker Cervel Neurotech is nearing the close of an $11.9 million funding round, having raised $11.1 million since April 2013 in support of its technology-based therapies for neurological and psychiatric disorders.
The company filed an amendment this month citing 8 unnamed investors participating in its financing round, which involved sales of equity, rights and securities. The fundraising, which is not associated with any other transaction, so far includes “a warrant, the exercise price of which has not been received, and may never be received,” Cervel reported. Read more
AxoGen and Brigham win $1.9M Pentagon contract for nerve repair innovation
June 6, 2014 by Arezu Sarvestani
The U.S. Dept. of Defense awarded a pair of grants worth $1.9 million to AxoGen and Brigham and Women’s Hospital in Boston in support of their efforts to develop tools to aid in peripheral nerve surgeries.
Nearly 1 million patients undergo surgical repair for peripheral nerve injuries each year, according to an Axogen statement. The total grants include a $700,000 award to BWH anesthesiology chairman Dr. Charles Vacanti and a $1.2 million grant to BWH plastic surgery transplantation director Dr. Bohdan Pomahac. Read more
Cheetah Medical adds $5M to coffers
June 6, 2014 by Brad Perriello
Cheetah Medical said it raised an initial $5 million investment from HighCape Partners for its non-invasive hemodynamic monitoring system.
Newton, Mass.-based Cheetah said the round is an extension of a prior raise that brought in $9 million. Read more
Axonia raises $2M in seed funding for nerve repair grafts
June 9, 2014 by Arezu Sarvestani
Michigan startup Axonia Medical the close of a $2 million seed financing round that the company plans to use to further develop its nerve repair and restoration technologies.
Axonia aims to repair damage associated with nerve injuries, such as peripheral nerve injury, spinal cord injury, traumatic brain injury and stroke, and area with "a remarkable absence of viable treatment options," the company said. Read more