Medical Device Startup, NeuroTronik Raises $13.1 Million
6/13/2013 10:02:11 AM
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Medical device startup NeuroTronik has raised $13.1 million for the continued development of a system to treat heart failure.
The 11-month-old Chapel Hill company's first round of funding came from a syndicate of venture capital firms led by Hatteras Venture Partners of Durham.
"This has the potential to really be one of the biggest device companies to come out of (the Triangle)," said Douglas Reed, a partner at Hatteras.
NeuroTronik, which has a handful of employees, is developing a device to treat acute heart failure syndrome for patients who go to the hospital for treatment of worsening symptoms. The company's Nuuromodulation System aims to shorten hospital stays and reduce the need of patients to return to the hospital a few weeks later.
"It's a way of stimulating the heart to increase the pumping effectiveness, the effectiveness of the contractions," Reed said. "So it improves cardiac function while the device is in place."
Test results from a prototype device has been "very encouraging," Reed said. "This is a very important disease. A lot of people die of heart failure."
Read more here: http://blogs.newsobserver.com/business/medical-device-startup-raises-131-million#storylink=cpy
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