electroCore, a Basking Ridge, NJ-based bioelectronic medicine healthcare company,, completed an over $70m Series B financing.
The round was led by Core Ventures II, with participation from Merck’s Global Health Innovation Fund, Gakasa, American Investment Holdings LLC and the Vinik Family Foundation, both of which are affiliated with Jeffrey Vinik.
The company intends to use the funds for the commercial launch and expansion via scientific exploration of its gammaCore therapy into the primary headache market, as well as the continued clinical and scientific development of its non-invasive, vagus nerve stimulation (nVNS) therapy.
Led by Francis R. Amato, CEO, and and JP Errico, co-Founder and Chief Science and Strategy Officer, electroCore is a neuroscience and technology company focused on developing non-invasive vagus nerve stimulation therapy for the treatment of multiple conditions in neurology, inflammation, and metabolic syndrome. The company’s initial target is the treatment of primary headache (migraine and cluster headache) and the associated chronic co-morbidities of gastric motility, psychiatric, sleep, and pain disorders.
Following the U.S. Food and Drug Administration (FDA) de novo release in April of gammaCore for the acute treatment of pain associated with episodic cluster headache in adult patients, electroCore has embarked on a commercial registry in the U.S., working with expert headache centers across the country to distribute up to 1,200 gammaCore units to patients free of cost for the first two months.
The company has filed for a 510(k) label expansion for the acute treatment of migraine, and is continuing to partner with other research organizations to study the use of nVNS therapy in several other potential indications.
To date, electroCore has raised over $150m through multiple rounds of funding, including $32m into its seed common round, $55m in a Series A round led by Merck GHI and Core Ventures, and most recently $70m in its Series B financing.