Neuspera Medical Inc., a San Jose, Calif.-based clinical stage neuromodulation company, held the initial closing of its $26M Series B equity financing.
The $26m financing was led by 6 Dimensions Capital with participation from existing investors Action Potential Venture Capital and Windham Venture Partners and new investors Delta Capital, LLC and Purple Arch Ventures. In conjunction with the funding, Ching Zhu, Ph.D., a Managing Partner at 6 Dimensions Capital, joined the Board of Directors.
The company intends to use the proceeds to advance product development and clinical programs for its implantable neuromodulation technology platform.
Led by Milton M. Morris, Ph.D., President & CEO, Neuspera is a medical device company that leverages both exclusively licensed and proprietary power transfer techniques to engineer miniaturized neuromodulation technologies – sometimes referred to as bioelectronics medicines. The company’s hermetically sealed implantable modules are more than 100 times smaller than other neuromodulation devices and may reduce implant procedure complexity, patient complication, and post-surgical pain.