Neuronetics, Inc., a Malvern, Pa.-based medical device company, closed on a $15m Series G funding.
Backers included existing investors Accuitive Medical Ventures, GE Ventures, Interwest Partners, Industry Ventures, Investor Growth Capital, KBL Healthcare Ventures, New Leaf Venture Partners, Onset Ventures, Pfizer, Polaris Venture Partners and Three Arch Partners and new investor Ascension Ventures.
The company intends to use the funds to continue to expand operations.
Led by Chris Thatcher, President and CEO, Neuronetics focuses on developing non-invasive therapies for psychiatric and neurological disorders using MRI-strength magnetic field pulses. It is considered as the leader in transcranial magnetic stimulation (TMS) with the development of NeuroStar® Advanced Therapy, a noninvasive form of neuromodulation for adult patients with Major Depressive Disorder (MDD).
To date, NeuroStar Advanced Therapy has delivered 1.4 million treatments to more than 50,000 patients.