Neuspera Medical Announces Close of a $65M Series C Equity Financing
SAN JOSE, Calif., July 20, 2021 /PRNewswire/ -- NeuSpera Medical Inc., a clinical stage, private venture capital backed neuromodulation company, today announced the closing of the company's $65 million series C equity financing. The Series C round was co-led by Vertex Ventures HC and Treo Ventures. Lori Hu, a Managing Director at Vertex Ventures HC and Mudit K. Jain, Ph.D. Managing Partner, Treo Ventures, joined the Board of Directors. Returning Series A and Series B investors include Action Potential Venture Partners and Windham Venture Partners. The proceeds will fund the company's SANS-UUI pivotal clinical study of its miniaturized implantable neuromodulation technology platform for use in subjects with Urinary Urgency Incontinence, a symptom of overactive bladder (OAB).
Neuspera Medical Raises $65M in Series C Financing.
Neuspera Medical Inc. is a medical device company that leverages both exclusively licensed and proprietary power transfer techniques to engineer miniaturized neuromodulation technologies – sometimes referred to as bioelectronic medicines. Neuspera's hermetically sealed implantable modules are more than 100 times smaller than neuromodulation devices using a traditional implanted battery power source and may reduce implant procedure complexity, patient complication, and post-surgical pain.
"Vertex Ventures HC is focused on enabling transformative solutions that help to improve the quality of human life." said Lori Hu of Vertex Ventures HC. "We see the Neuspera platform as a catalyst for bringing the known thereapeutic benefits of implantable devices to a significantly broader population of deserving patients."
"Neuspera is leveraging meaningful clinical experience to accelerate the development of its therapy platform that has the potential to significantly impact the lives of millions of patients. We are extremely excited to be part of the next phase of Neuspera's growth, " said Mudit K. Jain, PhD of Treo Ventures.
"We are excited to see the first cohort of patients experiencing the known benefits of sacral nerve stimulation through the use of our ultra-miniaturized neuromodulation platform – driven by the support of the physician investigators in the SANS-UUI clinical trial." said Milton M. Morris, Ph.D., President & CEO of Neuspera Medical. "We are excited to continue our focused efforts on enabling access to the known benefits of neuromodulation to patients who are struggling with chronic and debilitating medical conditions."
Investor Relations: www.Neuspera.com
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SOURCE Neuspera Medical Inc.