As it finishes up clinical trials and prepares to bring its implantable neurostimulation device to market, NeuroPace Inc. has raised $49 million of a funding round the company hopes will reach $60 million before it closes, investors in the company said. NeuroPace is using a neurostimulation technique to treat epilepsy, and is aimed at patients who have had little luck with anti-seizure medications. OrbiMed Advisors has raised $600 million for its first health-care royalties fund, double the amount the partners targeted for the pool. Selling royalty interests has caught on in recent years as medical companies have sought less-dilutive alternatives to equity. Other firms buying these interests include Cowen Healthcare Royalty Partners, Capital Royalty, Paul Capital Healthcare and Royalty Pharma.
