SetPoint Medical Receives FDA Breakthrough Device Designation for its Novel Bioelectronic Platform

VALENCIA, Calif., Oct. 06, 2020 (GLOBE NEWSWIRE) -- SetPoint Medical, Inc. today announced that it has received Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) for the use of its novel bioelectronic device for patients with rheumatoid arthritis (RA) who have incomplete response to, or are intolerant to multiple biologic drugs. The Company is developing its platform for the treatment of chronic, inflammation-mediated autoimmune diseases, and is initially focused on the treatment of RA as a potentially efficacious, yet less immunosuppressive option.

The Breakthrough Devices Program was launched by the FDA in 2018 to give patients and health care providers timely access to medical devices that provide for more effective treatment over existing approved products.

There are approximately 1.5 million Americans diagnosed with RA. Despite the effectiveness of biologic and targeted agents for the treatment of RA, many patients either do not respond, lose therapeutic response or are intolerant to these agents. SetPoint’s investigational bioelectronic medicine platform stimulates the vagus nerve to activate the endogenous inflammatory reflex and thereby reduce inflammation.

The Company has received FDA Investigational Device Exemption (IDE) approval for a multicenter, double-blind, randomized, sham controlled pivotal trial that will enroll up to 250 patients at 40 clinical trial sites across the U.S. The trial will evaluate the safety and effectiveness of the SetPoint bioelectronic platform in patients with moderate-to-severe RA who are incomplete responders or are intolerant to biologic or targeted synthetic disease modifying anti-rheumatic drugs (DMARDs).

“This is a significant milestone for SetPoint that will enable interactive communication with the FDA, priority regulatory review for the U.S. market, as well as support reimbursement and patient access upon FDA approval,” said Murthy V. Simhambhatla, PhD, President and CEO of SetPoint Medical. “We look forward to initiating our pivotal trial in RA and working collaboratively with the FDA to advance the development of our novel platform.”

About SetPoint Medical

SetPoint Medical is a privately held clinical-stage bioelectronic medicine company dedicated to treating patients with chronic autoimmune diseases. SetPoint Medical’s bioelectronic medicine platform is intended to offer patients and providers a treatment alternative for rheumatoid arthritis, inflammatory bowel disease and other chronic autoimmune conditions with potentially less risk and cost than drug therapy. The company is developing a novel bioelectronic medicine platform that stimulates the vagus nerve to activate the inflammatory reflex to produce a systemic immune-restorative effect. Current investors in the company include New Enterprise Associates (NEA), Morgenthaler Ventures, Topspin Partners, SightLine Partners, GlaxoSmithKline’s Action Potential Venture Capital and Boston Scientific as well as an additional undisclosed strategic investor (leading medical device company). For more information, visit www.setpointmedical.com.

Contacts

Media Contact:
Kirsten Thomas
The Ruth Group
508-280-6592
media@setpointmedical.com

Investor Relation Contact:
Emma Poalillo
The Ruth Group
646-536-7000
setpointmedical@theruthgroup.com

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