Relievant Medsystems, a Redwood City-based medical device company, secured $36 million in equity financing.
New Enterprise Associates (NEA) led the financing with participation from Canaan Partners, Emergent Medical Partners and Morgenthaler Ventures.
The company intends to use the funds to accelerate execution of its product, clinical and market development activities to advance intraosseous basivertebral nerve ablation for CLBP ahead of commercializing INTRACEPT worldwide.
Led by Alex DiNello, CEO and president, Relievant pioneering the therapeutic use of nerve ablation within vertebral bodies for the treatment of chronic low back pain (CLBP).
In July 2016, the company’s novel INTRACEPT Intraosseous Nerve Ablation System received 510(k) clearance from the FDA for the treatment of patients with CLBP.