Saluda Medical develops a proprietary closed-loop, dose-control neuromodulation platform and is commercial-stage with its first product, the Evoke® System. The Evoke System is a physiologic closed-loop spinal cord stimulation (SCS) system that senses neural responses and automatically adjusts therapy to maintain a targeted level of neural activation. The system is indicated as an aid in the management of chronic intractable pain of the trunk and/or limbs, including failed back surgery syndrome, intractable low back pain, leg pain, and chronic neuropathic pain. Saluda cites randomized, multi-center pivotal-study results with 12-month data published in The Lancet Neurology, 24-month results in JAMA Neurology, and 36-month data in Regional Anesthesia and Pain Medicine. Net proceeds from the financing will be used primarily to advance commercialization of the Evoke System. The company is continuing commercial efforts from its Minneapolis base. Saluda Medical, based in Artarmon, Australia, advances a portfolio of therapies driven by advanced closed‑loop technologies for debilitating neurological disorders. Its first product is the Evoke SmartSCS System, an ECAP‑controlled closed‑loop spinal cord stimulation (SCS) system. The Evoke System is indicated as an aid in the management of chronic intractable trunk and/or limb pain, including pain associated with failed back surgery syndrome and intractable low back and leg pain. The device automatically reads, records, and responds to nerves’ responses to stimulation more than 4 million times a day to continually optimize therapy. The company states the Evoke System is proven to be superior to open‑loop SCS for treatment of overall trunk and/or limb pain. Saluda is led by President and CEO Jim Schuermann and is advancing its technology platform alongside commercial plans for Evoke. Saluda Medical is a medical device company developing the Evoke® ECAP-Controlled, Closed-Loop Spinal Cord Stimulation (SCS) System to treat chronic intractable pain of the trunk and limbs. The Evoke system measures the spinal cord’s response to stimulation via evoked compound action potentials (ECAPs) and adjusts on every pulse to maintain activation within a patient’s therapeutic window. Saluda is advancing Evoke through the first double-blinded, randomized, controlled U.S. pivotal study and is pursuing regulatory approval to market the system. The company intends to use newly raised capital to fund final development stages through commercialization. Saluda is led by CEO John Parker and has offices in Artarmon, Australia; Bloomington, Minnesota; and Harrogate, UK. Saluda Medical Pty Limited is a medical device company developing a platform of closed-loop neuromodulation technologies based on neural response to stimulation. The platform is built to sense neural responses and adapt stimulation accordingly. The company is based in Australia. Saluda secured A$53 million (US$40 million) in an all-equity financing round. That financing was reported as a Series D led by Action Potential VC. Saluda Medical is a Sidney, Australia-based provider of technology and devices to treat chronic pain and other conditions. The company develops Evoke™, a spinal cord stimulation system designed to treat chronic pain of the trunk and limbs. Its neuromodulation technology measures nerve signals and adjusts stimulation in real time. Saluda is exploring applications of its platform for Parkinson's disease, epilepsy and other debilitating disorders. The company plans to use recently raised funds to conduct chronic clinical trials and support commercialization of Evoke. Saluda is a spin-out from NICTA and is led by CEO John Parker.

Total raised

$374M

Funding rounds

5

Latest round

Equity

Latest activity

Jan 2025