Neuronetics develops non-invasive therapies for psychiatric and neurological disorders using MRI-strength magnetic field pulses. The company is considered a leader in transcranial magnetic stimulation (TMS) and has developed NeuroStar® Advanced Therapy, a noninvasive neuromodulation treatment for adult patients with Major Depressive Disorder (MDD). NeuroStar Advanced Therapy has delivered 1.4 million treatments to more than 50,000 patients. Led by President and CEO Chris Thatcher, Neuronetics is based in Malvern, Pa. The company closed a $15M Series G equity round and intends to use the funds to continue to expand operations. The funding supports its commercial and operational growth around its NeuroStar therapy. Neuronetics develops non-invasive transcranial magnetic stimulation (TMS) therapies centered on its NeuroStar TMS Therapy System. The NeuroStar system is indicated for treatment of Major Depressive Disorder in adult patients who have failed to receive satisfactory improvement from prior antidepressant medication in the current episode. It is a non-systemic, non-invasive neuromodulation therapy that stimulates nerve cells by delivering highly focused MRI-strength magnetic field pulses, activating cortical and deep brain structures involved in mood regulation. Treatments are prescription-only and are typically administered daily for 4–6 weeks. The company completed a $34M Series F financing and plans to use the proceeds to expand its commercial resources. Neuronetics also intends to fund a new registration study to investigate NeuroStar TMS Therapy for Major Depressive Disorder in adolescents aged 12 to 21. Neuronetics develops the NeuroStar transcranial magnetic stimulation (TMS) system for the treatment of major depression. The NeuroStar system was cleared by the U.S. FDA in October 2008 and delivers focused MRI‑strength magnetic field pulses to stimulate nerve cells in a brain region linked to depression. The therapy is non‑invasive, does not circulate in the bloodstream or involve surgery, and is typically administered daily for four to six weeks. The treatment is available at more than 300 treatment centers in the United States. Neuronetics completed a $30M Series E financing to expand the reach of NeuroStar for patients who did not get relief from existing therapies. The company is led by President and CEO Bruce J. Shook.

Total raised

$79M

Funding rounds

3

Latest round

Series G

Latest activity

Jun 2017