Tal Medical, a Boston, MA-based clinical-stage medical device company developing a new treatment for depression and other psychiatric disorders, raised $14m in funding.
Backers included existing investor PureTech, a new institutional investor, and several individual investors.
The company intends to use the funds for clinical research programs in major depressive and bipolar disorders, advance product development and scale up the organization.
Led by Jan Skvarka, President and CEO, Tal Medical is a clinical-stage medical device company developing Low Field Magnetic Stimulation of the brain for the treatment of psychiatric disorders. LFMS is a non-invasive neuromodulation technology that has demonstrated a rapid-acting effect in major depressive disorder and bipolar depression. A multi-site study funded by the National Institute of Mental Health and led by Massachusetts General Hospital is currently testing the treatment durability. More studies are needed to confirm the early findings and establish optimal LFMS treatment regimen.