Neuspera is developing technology to power devices such as pacemakers by manipulating the direction of electromagnetic waves, exploiting research at Stanford University.
Neuspera Medical, a US-based neuromodulation device developer spun out from Stanford University, raised an initial $26m in series B funding led by corporate-backed investment firm 6 Dimensions Capital yesterday.
Action Potential Venture Capital, Windham Venture Partners, Delta Capital and Purple Arch Ventures also participated in the round. Neuspera has not disclosed a target size for the round.
Founded in 2013, Neuspera Medical is developing technology that manipulates the direction of electromagnetic waves within the human body, enabling the wireless transfer of electricity to miniaturised neuromodulation devices, such as pacemakers.
By removing the need for an embedded pulse generator in such devices, Neuspera’s approach simplifies the surgical installation process and reduces the likelihood of the patient experiencing pain or complications.
The technology is based on research by Ada Poon, a principal investigator in Stanford’s Integrated Biomedical Systems department, and her then-PhD candidate John Ho, who went on to become an assistant professor at National University of Singapore in 2015.
Neuspera will use the cash to fund continued product development in preparation for clinical trials for its neuromodulation technologies. Ching Zhu, a managing partner at 6 Dimensions Capital, has joined the board of directors.
Neuspera previously raised $8.9m in a series A round from Action Potential Venture Capital and Windham Venture Partners in 2016, following $1m in angel funding.
Milton Morris, president and chief executive of Neuspera, said: “Neuspera powered implants may lead to earlier adoption of neuromodulation-based treatment therapies due to its much smaller form factor and ease of use for both patients and clinicians.
“We are encouraged by the broad support of our program that this new funding signals. It reflects well on the achievements of our experienced team and the large, exciting potential our platform offers.”
6 Dimensions Capital was established in May 2017 through the merger of WuXi Healthcare Ventures, the corporate venturing arm of medical research firm WuXi PharmaTech, and VC firm Frontline BioVentures.
