Saluda Medical Pty Limited, an Artarmon, Australia-based global medical device company, secured $75m in equity financing.
Backers included Boston Scientific Corporation (NYSE: BSX) and Redmile Group LLC.
The company intends to use the capital to fund the final stages of development through commercialization of its Evoke® ECAP-Controlled, Closed-Loop Spinal Cord Stimulation (SCS) System for the treatment of chronic intractable pain of the trunk and limbs.
Led by John Parker, CEO, Saluda Medical is advancing Evoke, a closed-loop SCS system that measures the spinal cord’s response to stimulation (via ECAPs, or evoked compound action potentials) and adjusts on every pulse to maintain activation within the patient’s therapeutic window.
It is currently under investigation through the first double-blinded, randomized, controlled U.S. pivotal study in SCS. Saluda is pursuing approval to market the Evoke system.
The company also has offices in Bloomington, MN, USA and Harrogate, UK.