SetPoint Medical said today that it has received an investment from venture capital firm New Enterprise Associates.
SetPoint is developing a neuromodulation device designed to stimulate the vagus nerve to trigger the body’s anti-inflammatory response, according to the company.
Newly vested NEA joins existing investors Medtronic (NYSE:MDT), Boston Scientific (NYSE:BSX), GlaxoSmithKline‘s (NYSE:GSK) Action Potential Venture Capital Limited, Morgenthaler Ventures and Topspin Partners.
“We are proud that SetPoint has attracted such a prestigious and experienced investor. NEA is known for its support of companies pursuing breakthrough medical technologies, and we are pleased that SetPoint is now in the firm’s high-profile portfolio. We also welcome the deep experience that Josh Makower brings to our board. His extensive financial and strategic experience will be valuable as we build the company and advance SetPoint’s groundbreaking bioelectronic medicine platform,” SetPoint CEO Anthony Arnold said in a press release.
Valencia, Calif.-based SetPoint Medical said NEA general partner Dr. Josh Makower has joined its board of directors.
“SetPoint has assembled an outstanding team, experienced investors, top-notch clinical academic advisors and a strong scientific position in a field we have been following closely – bioelectronic medicine. We’re excited to join as investors in SetPoint and look forward to helping support the advancement of their technologies into patient care for rheumatoid arthritis and an array of other inflammatory diseases,” NEA general partner Dr. Josh Makower said in a prepared statement.