NeuroVista is developing a Seizure Advisory System — an implantable device that senses irregularities in brain electrical waves that precede a seizure. The device is designed to give early warnings so patients can take medicine or find a safe place to lie down. The company is advancing the technology through clinical trials, and the recent financing is intended to support those ongoing trials. NeuroVista closed $16.5M in equity financing and also secured a $5M convertible debt agreement. As part of the financing, Dr. Steve Gourlay of GBS joined NeuroVista's board. The funding will be used to further clinical development of the platform. NeuroVista develops implantable devices aimed at treating epilepsy. The company, founded in 2002 by Daniel DiLorenzo and based in Seattle, has been publicly quiet about its technology and commercial direction. In April, DiLorenzo received a patent for a "neurological control system" using "closed-loop intracranial stimulation" for the optimal control of neurological disease, suggesting systems that monitor and potentially counteract early signs of seizures. The company completed a $33.8 million second-round funding, which should support further development of its technology. NeuroVista previously operated under the name BioNeuronics. Other firms, including NeuroPace, Medtronic, and Cyberonics, are also reported to be researching epilepsy devices, indicating a competitive landscape.

Total raised

$55M

Funding rounds

3

Latest round

Equity

Latest activity

Aug 2010