Nevro Raises $48M in Series C Financing
Nevro Corp., a Menlo Park, Calif.-based medical device company focused on improving pain relief, raised $48m in Series C financing.
The round was led by new investor Novo Ventures, with participation from New Enterprise Associates and Covidien Ventures as well as existing investors Accuitive Medical Ventures, Bay City Capital, Johnson & Johnson Development Corporation, Mayo Clinic, MPM Capital, and Three Arch Partners.
The company intends to use the capital to conduct a U.S. pivotal clinical study, invest in clinical evidence for new indications and support its international and U.S. commercialization plans.
Led by Michael DeMane, Chief Executive Officer, Nevro focuses on the development and commercialization of a high-frequency spinal cord stimulation (HF-SCS) System for the treatment of chronic pain and other disorders. The company’s Senza HF-SCS system, which provides HF10TM SCS therapy by delivering stimulation of up to 10kHz, is authorized for sale and is commercially available in Europe and Australia.