NeuroPace, Inc., a Mountain View, Calif.-based medical technology company, raised $67m in funding.
It included $33m of new equity capital and $34m from convertible debt provided by current investors from a prior funding round.
The equity round was led by Accelmed Partners with participation from an unnamed strategic investor, Revelation Partners, Soleus Capital, and returning investors KCK Group and OrbiMed Advisors. In conjunction with the funding, Evan Norton, General Partner, Accelmed Partners, joined NeuroPace’s board.
An additional $27 million in committed capital is available in a second tranche.
The funds will be used to accelerate commercial growth and to pursue expanded indications for the RNS® System.
Led by Mike Favet, CEO, NeuroPace provides the RNS System, an FDA approved brain-responsive neurostimulator designed to prevent seizures before they start. It is a closed-loop brain-responsive neurostimulation system designed to prevent epileptic seizures at their source. The RNS System treats seizures by continuously monitoring brain waves, recognizing each patient’s unique “seizure onset fingerprint,” and automatically responding with imperceptible electrical pulses before seizures occur. Physicians can view their patient’s EEG data on a secure website and program the device to personalize therapy for each individual. The RNS System is now available at most comprehensive epilepsy centers in the United States and is widely covered by insurance.