SAN JOSE, Calif., Jan. 24, 2018 /PRNewswire/ -- Neuspera Medical Inc., a clinical stage, private venture capital backed neuromodulation company, today announced the initial closing of their Series B equity financing. The $26 millionfinancing was led by 6 Dimensions Capital with all existing investors from Series A also participating including Action Potential Venture Capital and Windham Venture Partners. Ching Zhu, Ph.D., a Managing Partner at 6 Dimensions Capital, joined the Board of Directors. Delta Capital, LLC and Purple Arch Ventures also participated in the Series B as new investors. The proceeds will be used to advance the Company's product development and clinical programs for its implantable neuromodulation technology platform.
Neuspera is a medical device company that leverages both exclusively licensed and proprietary power transfer techniques to engineer miniaturized neuromodulation technologies – sometimes referred to as bioelectronics medicines. Neuspera's hermetically sealed implantable modules are more than 100 times smaller than other neuromodulation devices and may reduce implant procedure complexity, patient complication, and post-surgical pain.
"6 Dimensions Capital is pleased to be backing Neuspera – a fast paced company with a potentially disruptive technology and a high performing management team," said Dr. Zhu. "The Neuspera platform is applicable to a wide range of indications that are currently using the traditional and much larger implantable pulse generator and lead approach. We see Neuspera's important and much less invasive technology advancement as a catalyst for growth for neuromodulation in the treatment of many chronic disease states."
"Neuspera powered implants may lead to earlier adoption of neuromodulation based treatment therapies due to its much smaller form factor and ease of use for both patients and clinicians," said Milton M. Morris, Ph.D., President & CEO of Neuspera. "We are encouraged by the broad support of our program that this new funding signals. It reflects well on the achievements of our experienced team and the large, exciting potential our platform offers. We look forward to bringing this technology forward to improve the care and outcomes of patients struggling with chronic and debilitating diseases."
Neuspera Medical, headquartered in San Jose, CA, is committed to bringing forward implantable medical device technology that will improve lives of patients battling with chronic illness. The company is focused on developing products based upon its Fourth Generation Mid-Field Powering Technology, which allow for devices that are significantly smaller, implanted deeper, and more reliable than other neuromodulation technologies. This technology platform will provide patients and physicians new, and potentially earlier treatment options that are less invasive and more adaptable.
Investor Relations: www.Neuspera.com
About 6 Dimensions Capital
6 Dimensions Capital is a leading healthcare focused investment firm with an in-depth focus and extensive coverage across China and the United States. It consists of a team of over 30 investment and supporting professionals with offices in Shanghai, Boston, Hong Kong and San Francisco. The firm currently has US$1.6 billion assets under management through 4 US dollar-denominated and 3 RMB-denominated funds, and have built a portfolio of over 60 companies. In May 2017, Frontline BioVentures and WuXi Healthcare Ventures, two prominent and complementary China-U.S. healthcare investment firms, merged to form 6 Dimensions Capital. The Shanghai/San Francisco-based Frontline BioVentures has an established healthcare venture investment exposure in China and the Shanghai/Boston-based WuXi Healthcare Ventures has a proven advantage with its access to innovative startups in the United States. The merger has created a powerhouse that aims to fund innovation in an optimal position to capture the biggest value appreciation on both sides of the Pacific.
SOURCE Neuspera Medical Inc.
Posted on Wed, January 24, 2018