MicroTransponder, Inc., a Dallas, TX-based medical device company, completed a $3.39m funding round.
The round was led by Green Park & Golf Ventures, with participation from angel investors and the UT Horizon Fund.
The company intends to use the funds to complete 3 additional clinical trials using their neurostimulation system to treat both stroke patients and tinnitus patients and continue development of its wireless pain platform.
Led by Frank McEachern, CEO, MicroTransponder partners with the University of Texas at Dallas to develop vagus nerve stimulation therapy to treat various neurological disorders. The initial therapeutic targets are stroke, tinnitus, and chronic pain. Its Vivistim System has been developed to treat stroke patients that experience an upper-limb deficit following their stroke. while the Serenity® System has been developed to treat patients who suffer from tinnitus.
24/02/2010: MicroTransponder Raises $9.6M