Saluda Medical Raises $150M in Equity Financing

Saluda Medical

Saluda Medical, an Artarmon, Australia-based medical device company, raised $150M in Equity funding.

The round was led by Wellington Management. Backers included Fidelity Management & Research Company, TPG, Redmile Group, LLC, Action Potential Venture Capital, and funds and accounts advised by T. Rowe Price Associates, Inc..

The company intends to use the funds to advance the commercial release of the Evoke Spinal Cord Simulation (SCS) System and to further advance its technology platform.

Led by Jim Schuermann, President and CEO, Saluda Medical is a medical device company advancing a portfolio of therapies driven by advanced closed-loop technologies designed to treat debilitating neurological disorders. Its first product, the Evoke SmartSCS System, is an ECAP-controlled closed-loop smart spinal cord stimulation (SCS) system indicated as an aid in the management of chronic intractable pain of the trunk and/or limbs, including unilateral or bilateral pain associated with failed back surgery syndrome, intractable low back pain, and leg pain. The Evoke System automatically reads, records, and responds to the nerves’ response to stimulation 4+ million times a day to provide continually optimized therapy and is proven to be superior to open-loop SCS for the treatment of overall trunk and/or limb pain.

FinSMEs

15/04/2023