TLDR:
- Neuspera Medical raised $23M in Series D funding led by Vertex Ventures HC and Treo Ventures.
- The company aims to use the funds to enhance growth and secure FDA premarket approval for its implantable medical devices.
Neuspera Medical, a San Jose, CA-based neuromodulation company, recently announced a successful Series D funding round, raising $23M. The funding was led by Vertex Ventures HC and Treo Ventures, with additional participation from Action Potential Venture Capital, Windham Venture Partners, Olympus Innovation Ventures, and another strategic investor. The company, under the leadership of CEO Steffen Hovard, is focused on developing implantable medical devices to improve the lives of patients with chronic illnesses.
The funds will be utilized to further enhance growth strategies in anticipation of securing U.S. Food and Drug Administration (FDA) premarket approval (PMA) for its system. The Neuspera System, a discreet, minimally invasive implant, is designed to offer patients personal control and relief from urinary urge incontinence (UUI), a common symptom of overactive bladder (OAB). The system comprises an ultra-miniaturized pulse generator connected to an electrode array.
The successful funding round signifies a key milestone for Neuspera Medical as it moves closer to bringing its innovative medical devices to market and potentially making a significant impact on patients’ lives.
