NeuroPace, which is developing an implantable device to treat epilepsy and other neurological disorders, is on the verge of closing a large financing round, according to a regulatory filing
The Mountain View, Calif.-based firm has drummed up $49.1 million of a hoped-for $61.9 million round, according to the filing. A slew of names linked to venture capital firms are listed on the filing, from the likes of Kleiner Perkins Caufield & Byers, New Enterprise Associates, Angel Medical Systems, Cutlass Capital and Domain Associates.
But the most interesting name belongs to the man who runs Johnson & Johnson’s (NYSE:JNJ) in-house investment shop: vice president Brad Vale. Vale will sit on NeuroPace’s board, according to the Securities & Exchange Commission filing, joining KPC&B partner Joe Lacob (yes, that Joe Lacob), NEA’s Chuck Newhall, David Fischell of Angel Medical, Eunoe Inc. CEO Ray Larkin (a Cutlass Capital advisor), Domain general partner James Blair and NeuroPace CFO Benjamin Pless.
NeuroPace raised $30 million in 2005 from backers including Domain, InterWest, KPC&B, MedVenture, NEA and Technology Partners, according to PEHub.com. In 2010 the company filed for pre-market approval from the FDA for the RNS system, designed to decrease or eliminate epilepsy episodes through the use of an implant which monitors the patient’s brain and delivers electric signals to prevent seizures by disrupting any abnormal activity. A clinical trial leading up to the PMA application was faring well as far back as September 2009.
Read more med-tech funding news from MassDevice.com
ViewRay reels in nearly $10.4 million
ViewRay Inc. added nearly $10.4 million to the $53 million it’s raised so far to bring its cancer treatment to market.
The Oakwood Village, Ohio-based company, which reeled in $20 million last year in a Series C round, is developing an MRI-based device to deliver radiation therapy to cancer patients. In February ViewRay won 510(k) clearance for the system.
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Laser maker Hamilton Thorne Inc. raises $2.6M in private placement
Hamilton Thorne Ltd. (CVE:HTL) closed the first tranche of a private stock placement, issuing nearly 12.5 million shares at 20 cents Canadian apiece (that’s about 20.5 cents in U.S. currency) for gross proceeds of nearly $2.6 million U.S.
About $1.5 million of the haul will go toward paying down Hamilton Thorne’s debt from its current $5 million mark. The rest will go to fund research & development, distribution and the proverbial “general corporate purposes,” according to a press release.
The company still has a window to issue as many as 2.25 million shares for up to $450,000 U.S., but the opening closes Sept. 23.
continue to accept subscriptions for up to US$450,000 at the Offering Price (approximately 2,250,000 Commons shares) until on or about September 23, 2011.
In April, CEO Meg Spencer told MassDevice how the company stays on the cutting edge of life science technology and its footprint in stem cells and regenerative medicine.
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CardiOx drums up $8M in Series C
CardiOx Corp. drummed up an $8.0 million Series C financing round, according to an SEC filing, from backers including Lifeline Ventures, Early Stage Partners, Glengary LLC and Reservoir Ventures Partners.
The Dublin, Ohio-based cardiac test maker pulled in $653,000 in a debt and options offering in October 2010. It will use the new addition to its coffers to wrap up clinical trials of its device, which is designed to detect a heart defect called patent foramen ovale, and to step up manufacturing and bolster its workforce, CEO Larry Heaton told MedCity News. CardiOx aims to file for regulatory clearance here and in Europe, Heaton said.
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Ischemia Care lands $750k of $1.1M round
Ischemia Care reeled in almost three-quarters of its $1.1 million funding goal, according to an SEC filing.
Ischemia Care is developing a blood test to identify the cause of stroke using genetic information to distinguish between event originating in the heart and strokes that begin near the brain, according to MedCity News.
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N.C. Biotech Center doles out $90k in loans
The North Carolina Biotechnology Center awarded $90,000 in loans to three startup companies in the Tarheel State’s Research Triangle.
CertiRx, Qualiber and Zoion Pharma each received the maximum $30,000 from the center’s Company Inception Loan program, designed to assist with non-scientific startup activities via low-interest debt.
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