Saluda Medical raises $100M financing for closed-loop spinal cord stimulation
Summary
Saluda Medical raised $100 million in financing led by Redmile Group, with participation from Wellington Management, TPG Life Sciences Innovation, Fidelity, Action Potential Venture Capital, T. Rowe Price Associates, and Piper Heartland Healthcare Capital. Proceeds will fund commercialization of Evoke, Saluda's closed-loop neuromodulation system for treating chronic pain via spinal cord stimulation. Evoke automatically adjusts therapy based on neural responses and is MRI-compatible.
Why it matters
Saluda Medical's Evoke system represents a major advance in neuromodulation by using closed-loop feedback to automatically optimize therapy delivery, addressing a key limitation of traditional open-loop spinal cord stimulators. The financing supports the company's trajectory toward potential IPO as it scales commercial adoption of its differentiated chronic pain therapy.
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