Magnus Medical, Inc., a Burlingame, Calif.-based medical device company, raised $25m in Series A financing.
The round was co-led by Jazz Venture Partners and Red Tree Venture Capital.
Led by Brett Wingeier, Ph.D., co-founder and CEO, and Brandon Bentzley, M.D., Ph.D., co-founder and CSO, Magnus Medical has also announced that the U.S. Food & Drug Administration (FDA) has granted the company Breakthrough Device Designation for its individualized, rapid-acting, non-invasive neurostimulation technology designed to treat major depressive disorder (MDD) in people who have not improved sufficiently from antidepressant medication or other treatments.
The Magnus System, based on the SAINT technology, is licensed exclusively to Magnus Medical from Stanford University for commercialization.
FinSMEs
29/10/2021