North Carolina neuromodulation startup NeuroTronik is halfway to its $3.3 million goal in an equity funding round launched May 31, 2013.
NeuroTronik, which about a year ago spun out of business accelerator Synecor, is working on a neuromodulation system that may be an alternative to invasive defibrillators for treating patients with heart failure.
The company is on a roll after having just last month raised $13.1 million in its 1st round of outside funding, The News & Observer reported.
NeuroTronik’s device is designed to help the heart pump more effectively by providing stimulation, and early tests from a prototype of the system have been "very encouraging," Hatteras Venture Partners partner Douglas Reed told the paper. The company hopes to land European regulatory approval in the next 4 years.