The funds will be used to conduct the SANS-UUI pivotal clinical study of miniaturised implantable neuromodulation technology platform
Neuromodulation company Neuspera Medical has secured $65m in series C equity financing for the clinical trial of its miniaturised implantable neuromodulation technology platform.
Co-led by Vertex Ventures HC and Treo Ventures, the financing round witnessed participation from Series A and Series B investors such as Action Potential Venture Capital and Windham Venture Partners.
In Series B financing round that was closed in February 2019, the company raised $26m funding.
Neuspera Medical will use the proceed from the latest funding round to conduct the SANS-UUI pivotal clinical study of its miniaturised implantable neuromodulation technology for use in patients with urinary urgency incontinence, a symptom of overactive bladder (OAB).
Neuspera Medical president and CEO Dr Milton Morris said: “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.
“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.”
Neuspera Medical leverages its Mid-Field Powering Technology, which enables the devices to be significantly smaller and implanted deeper.
The company’s hermetically sealed implantable modules are said to be over 100 times smaller than neuromodulation devices. The modules could help in minimising implant procedure complexity, patient complication, and post-surgical pain.
In June last year, Neuspera Medical announced the completion of the first chronic clinical implants of its Neuspera neuromodulation system on the sacral nerve.
The Neuspera neuromodulation system is a wirelessly powered implant that provides physicians the catheter-delivered sacral Neuromodulation device, avoiding the need for tunneling or pocket formation for an implanted battery.