Stimdia Medical, a Minneapolis, MN-based developer of neurostimulation technology, raised USD16M in funding.
The round, which represents the first tranche of a Series B offering totaling $30M, was led by Solas BioVentures with participation from Draper Triangle Ventures.
The company intends to use the funds to continue to develop its solutions. In particular, the funding will support the initiation and completion of its planned FDA pivotal study that will be focused on demonstrating how the technology can strengthen the diaphragm, thereby enabling earlier liberation of patients from mechanical ventilation.
Led by CEO Tim Miller, and Jim Bullock, Co-founder, Board Chairman, and medical device veteran, Stimdia Medical is advancing neurostimulation technology intended to strengthen and condition the diaphragm in patients on mechanical ventilation. The company’s pdSTIM System is aimed at facilitating in weaning patients suffering from ventilator-induced diaphragmatic dysfunction (VIDD). The pdSTIM System is currently for investigational use only and is not for sale in any country.
FinSMEs
14/07/2022