SetPoint Medical, a Valencia, Ca.-based biomedical technology company developing neuromodulation therapies for inflammatory diseases, secured $27m in financing.
Backers included Morgenthaler Ventures, Foundation Medical Partners, Topspin Partners, Covidien Ventures, Action Potential Venture Capital Limited, the GlaxoSmithKline (GSK) new strategic venture capital fund for bioelectronic medicines and technologies, and Boston Scientific.
The company intends to use the funds to expand ongoing clinical development of its bioelectronics therapy approach in rheumatoid arthritis and Crohn’s disease and advance development of its proprietary neuromodulation platform.
Led by Anthony Arnold, CEO, SetPoint Medical is developing a novel proprietary bioelectronic medicine platform to treat a variety of inflammation-mediated autoimmune diseases. Its neuromodulation therapy uses an implantable pulse generator to stimulate the vagus nerve, activating the body’s natural Inflammatory Reflex to produce a systemic anti-inflammatory effect.