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Home » NeuroPace files for $75M IPO

NeuroPace files for $75M IPO

March 29, 2021 By Sean Whooley

NeuroPace RNS System
The NeuroPace RNS system (Image from NeuroPace)

Refractory focal epilepsy treatment developer NeuroPace last week filed with the SEC to raise up to $75 million in an initial public offering.

Mountain View, Calif-based NeuroPace develops the RNS system, which it touts as the world’s only closed-loop brain-responsive neurostimulation system designed to prevent seizures at their source.

The RNS system includes a neurostimulator, leads placed at the seizure foci, a remote monitor for uploading data and an RNS tablet and patient data management system for physicians to view data on a secure website and use to personalize therapy.

In the prospectus for the company’s IPO, NeuroPace said that, as of Dec. 31, 2020, more than 3,000 patients had received its RNS system. The company plans to list on the Nasdaq under the NPCE ticker, having confidentially filed for the IPO on Jan. 29, 2021.

NeuroPace said the principal purpose of the IPO is to collect additional capital ahead of expansion for its sales and marketing efforts, as well as with R&D and clinical studies. Additionally, a portion of the proceeds will be used to repay the approximately $4 million collected by the company under its Paycheck Protection Program loan, which is scheduled to mature in April 2022 with a 1% annual interest rate.

Filed Under: Business/Financial News, Featured, Funding Roundup, Initial Public Offering (IPO), Neurological, Neuromodulation/Neurostimulation, Research & Development, Wall Street Beat Tagged With: NeuroPace

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About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at [email protected].

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