Saluda Medical, a Sidney, Australia-based provider of technology and devices to treat chronic pain and other conditions, received $10m in Series B financing.
The round was led by new investor Biosciences Managers with participation from existing investors.
The company intends to use the funds to conduct chronic clinical trials and support commercialization plans for its Evoke™, its spinal cord stimulation system to treat chronic pain of the trunk and limbs.
A spin-out from NICTA, Australia’s Information Communications and Technology (ICT) Research Centre of Excellence, Saluda Medical is developing neuromodulation technologies that measures nerve signals and adjusts stimulation in real time to improve the treatment of chronic pain, Parkinson’s disease, epilepsy and other debilitating disorders.
The company is led by CEO John Parker.