Neuspera Medical said today that it raised a $26 million Series B round for the injectable neuromodulation devices it’s developing.
Formerly known as Vivonda Medical, San Jose, Calif.-based Neuspera said the round was led by 6 Dimensions Capital, joined by all of its Series A investors, including Action Potential Venture Capital and Windham Venture Partners, and new backers Delta Capital and Purple Arch Ventures.
Neuspera said it plans to use the cash for product development and clinical programs.
“Neuspera powered implants may lead to earlier adoption of neuromodulation based treatment therapies due to its much smaller form factor and ease of use for both patients and clinicians,” president & CEO Milton Morris said in prepared remarks. “We are encouraged by the broad support of our program that this new funding signals. It reflects well on the achievements of our experienced team and the large, exciting potential our platform offers. We look forward to bringing this technology forward to improve the care and outcomes of patients struggling with chronic and debilitating diseases.”
“6 Dimensions Capital is pleased to be backing Neuspera – a fast-paced company with a potentially disruptive technology and a high performing management team,” added 6 Dimensions managing partner Ching Zhu, who joined Neuspera’s board. “The Neuspera platform is applicable to a wide range of indications that are currently using the traditional and much larger implantable pulse generator and lead approach. We see Neuspera’s important and much less invasive technology advancement as a catalyst for growth for neuromodulation in the treatment of many chronic disease states.”