Ultra-Miniaturized Device is Smallest-Known Sacral Nerve Implant
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 Capital 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 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.”
About Neuspera
Neuspera Medical, Inc. (San Jose, CA) is committed to developing implantable medical device technology that will improve lives of patients battling with chronic illness. The company is leveraging its’ proprietary Mid-Field Powering Technology, which allows for devices that are significantly smaller, implanted deeper, and may prove to be more reliable than other miniaturized 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 Vertex Ventures HC
Vertex Ventures HC (Palo Alto, CA) invests in various sectors of the healthcare industry, including biopharmaceuticals, medical devices and digital health. The Vertex portfolio includes companies at all stages of development, from early-stage companies testing transformative technologies to commercial-stage companies seeking additional growth. With a focus on areas with significant unmet need, Vertex seeks to build great companies that improve the health and quality of human life. Vertex will take an active role in their portfolio companies and work with exceptional entrepreneurs, industry partners and fellow venture investors to create value. The global investment professionals at Vertex bring deep scientific, medical and business knowledge to every investment they make.
About Treo Ventures
The Treo team brings more than 80 years of cumulative healthcare experiences in investing and operational roles. Treo has invested globally in more than 60 companies through multiple market cycles. The team has worked together on a number of healthcare investments over the last 12 years prior to forming Treo Ventures. The Treo team has been involved in some of the premium healthcare companies bringing novel technologies to market. With over 80 years of combined operational and investing experiences across early and commercial stage companies, Treo team has played an active and important role from founding companies to liquidity via trade sales to multiple strategics and IPOs. Treo’s experiences on private and public company boards gives them a unique vantage point in their active involvement with portfolio companies. In addition, their scientific and commercial backgrounds along with global relationships have helped them play an important role in consistently building some of the most successful healthcare companies over last two decades.
SOURCE Neuspera Medical Inc.
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Neuspera Medical Announces Close of a $65M Series C Equity FinancingSAN 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 Capital 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 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.”
About Neuspera
Neuspera Medical, Inc. (San Jose, CA) is committed to developing implantable medical device technology that will improve lives of patients battling with chronic illness. The company is leveraging its’ proprietary Mid-Field Powering Technology, which allows for devices that are significantly smaller, implanted deeper, and may prove to be more reliable than other miniaturized 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 Vertex Ventures HC
Vertex Ventures HC (Palo Alto, CA) invests in various sectors of the healthcare industry, including biopharmaceuticals, medical devices and digital health. The Vertex portfolio includes companies at all stages of development, from early-stage companies testing transformative technologies to commercial-stage companies seeking additional growth. With a focus on areas with significant unmet need, Vertex seeks to build great companies that improve the health and quality of human life. Vertex will take an active role in their portfolio companies and work with exceptional entrepreneurs, industry partners and fellow venture investors to create value. The global investment professionals at Vertex bring deep scientific, medical and business knowledge to every investment they make.
About Treo Ventures
The Treo team brings more than 80 years of cumulative healthcare experiences in investing and operational roles. Treo has invested globally in more than 60 companies through multiple market cycles. The team has worked together on a number of healthcare investments over the last 12 years prior to forming Treo Ventures. The Treo team has been involved in some of the premium healthcare companies bringing novel technologies to market. With over 80 years of combined operational and investing experiences across early and commercial stage companies, Treo team has played an active and important role from founding companies to liquidity via trade sales to multiple strategics and IPOs. Treo’s experiences on private and public company boards gives them a unique vantage point in their active involvement with portfolio companies. In addition, their scientific and commercial backgrounds along with global relationships have helped them play an important role in consistently building some of the most successful healthcare companies over last two decades.
SOURCE Neuspera Medical Inc.
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Neuspera Medical Receives Investigational Device Exemption for Its Ultra-Miniaturized Implantable DeviceRegulatory Approval to Start Phase I of its Pivotal Trial
SAN JOSE, Calif., Dec. 10, 2019 /PRNewswire/ — Neuspera Medical Inc., a clinical stage, private, venture capital backed neuromodulation company, announced the receipt of an Investigational Device Exemption (IDE) from the FDA – enabling the company to conduct the first long-term clinical trial of its ultra-miniaturized neuromodulation platform. An MRI Conditional version of Neuspera’s wirelessly powered implant designed for use as a sacral nerve stimulator will be studied for treatment of Urinary Urge Incontinence (UUI) – a prevalent form of Over Active Bladder.
“The Neuspera team continues to take meaningful steps to bringing their novel technology platform to patients battling the symptoms of UUI,” said Adam Fine, Founder & Managing Partner of Windham Venture Partners – a major investor in Neuspera Medical. “The Investigational Device Exemption marks a key milestone in the company’s lifecycle and speaks to the maturity of the medical device platform. We look forward to more applications in the future.”
The Neuspera platform leverages proprietary power transfer methods that enable miniaturization of implantable devices – sometimes referred to as bioelectronic medicines. Neuspera’s hermetically sealed implantable modules are more than 100 times smaller than traditional neuromodulation devices and is expected to reduce implant procedure complexity, patient post-surgical pain and complication. Traditional neuromodulation devices require an implanted battery power source and are therefore larger and require more complex and invasive implantation procedures.
“Urinary Urge Incontinence can be a significant burden for patients who struggle daily with the perceived loss of control and the unpredictable nature of the condition,” said Milton M. Morris, Ph.D., President & CEO of Neuspera. “The approval to conduct our clinical trial in this important and underserved population of patients is a key step toward our goal of improving their care and outcome.”
About Neuspera
Neuspera Medical, Inc. (San Jose, CA) is committed to developing implantable medical device technology that will improve the lives of patients battling with chronic illness or dysfunction. The company is leveraging its Fourth Generation Mid-Field Powering Technology, which allows for devices that are significantly smaller, that may be implanted deeper, and may be more reliable than other miniaturized neuromodulation technologies. This technology platform is designed to provide patients and physicians new, and potentially earlier treatment options that are less invasive and more adaptable.
Investor Relations: www.Neuspera.com
About Windham Venture Partners
Founded in 2006, Windham Venture Partners is a New York City based venture capital firm focused on healthcare, with a particular emphasis on medical technology (devices and diagnostics) and healthcare IT / digital health. Windham partners with visionary founders and entrepreneurs commercializing game-changing technologies to serve unmet needs in order to improve the lives of large numbers of patients and yield robust returns for its investors.
Learn More about Windham Venture Partners: www.windhamvp.com
SOURCE Neuspera Medical Inc.
Neuspera Medical has raised a new total of $26 million in equity financing, following the closing of the second tranche of its series B round, to help fund clinical testing programs for its neuromodulation implants.
Each of the round’s original investors returned to participate, including 6 Dimensions Capital, Action Potential Venture Capital, Windham Venture Partners, Delta Capital, Purple Arch Ventures and others.
The second and final $12 million tranche was triggered after the company met development and regulatory objectives, the San Jose, California-based company said in a statement. The series B round first closed in January 2018.
Neuspera is focused on developing techniques to transfer power to implants from outside the body, using electromagnetic waves—to allow for smaller, sealed implant designs, compared to battery-powered neuromodulation devices. The company was first founded in 2014 as Vivonda Medical.
The company believes it can use the structure of the human body to help guide and focus electromagnetic waves, in order to power implants located deeper in muscle and bone, while maintaining a device smaller than a few millimeters in size.
The implanted electrical stimulators can then help maintain heartbeats or treat neurological diseases, as well as help power other devices, Neuspera said.
Electroceuticals Startup Neuspera Raises $8M to Back Tiny, Injectable Neuromodulation TechNeuspera Medical had been working under the radar for some time on about $1 million in angel financing. Now, it’s raised an $8 million Series A financing after bringing in a high-profile exec to lead its effort. The Santa Clara, CA-based startup is aiming for a futuristic field that already has substantial strategic interest: electroceuticals.
GlaxoSmithKline ($GSK) declared its interest in electroceuticals, also known as bioelectronics, a few years ago. The idea is that miniature devices can be used to modulate the electrical impulses in the body, thereby triggering biochemical processes that are more typically manipulated via biopharmaceuticals. The end game is to replace drug therapies by inducing the body to heal itself in major illnesses that could include diabetes, asthma, hypertension, arthritis, pain and even cancer.
The biopharma has put its money where its mouth is with a couple of financing initiatives including a $50 million venture fund. GSK has funded at least 33 electroceuticals, mostly in very early research stages.
Neuspera claims that its implant is more than 100 times smaller than other neuromodulation devices. It expects its miniaturized injectable neuromodulation technology could treat patients with chronic illnesses. Its small form factor is expected to reduce procedure complexity and time as well as patient complications and post-surgical pain. The tech is powered by the company’s MidField technology.
It’s not quite clear yet if NeuSpera is aiming for the more traditional function of neuromodulation, pain management, with a smaller form factor–or if it’s actually seeking to address tackle underlying disease processes. Either way, it’s staked itself out as an electroceuticals company.
The company was founded in 2014 as Vivonda Medical. Last August, it brought in former Cyberonics SVP of R&D Milton Morris. He was first tasked with a Series A fundraising. Morris left Cyberonics in the shake-up after the $3 billion merger with Sorin to create LivaNova ($LIVN).
“It is a privilege to be in a position to positively impact human lives through medical technology–a privilege that I take seriously,” said Morris in a statement when he was appointed as the startup’s CEO. “NeuSpera has the opportunity to fundamentally change the way neuromodulation therapy is delivered. I look forward to realizing its great potential.”
– Here is the SEC filing