Spinal Modulation’s core product is the Axium Neurostimulator System, which stimulates the dorsal root ganglion (DRG) to provide targeted spinal cord stimulation for chronic, intractable pain, particularly in lower extremities and other hard-to-treat areas. The system’s leads are placed at the DRG and the therapy reportedly uses approximately 95 percent less power than traditional SCS systems. Axium received European CE Mark approval in November 2011 but is not approved for use in the United States. The company has an FDA investigational device exemption (IDE) and anticipated beginning U.S. enrollment in the second half of the year. Spinal Modulation is privately held and based in Menlo Park, CA, and lists Johnson & Johnson Development Corporation, Medtronic, Kleiner Perkins Caufield & Byers, De Novo Ventures, MedVenture Associates, and DFJ InCube Ventures as backers. Clinical evidence and peer-reviewed publications supporting the DRG approach are noted in the announcement. Spinal Modulation is an early-stage medical device company developing a fully implantable spinal cord stimulator system for the treatment of chronic pain. The company has completed development of its first fully implantable spinal cord stimulation system and has initiated international clinical studies. It announced a $30 million Series D financing to support clinical trials and near-term commercialization activities. Proceeds from the financing will be used to conduct clinical trials in the United States and internationally. The company plans to commence commercialization outside the United States in the near future. Headquartered in Menlo Park, California, Spinal Modulation is privately held and backed by strategic and venture investors including Medtronic and several venture firms. Spinal Modulation is a Menlo Park, CA-based medical device company developing next-generation spinal cord stimulator systems. The company's core product is a spinal cord stimulator intended to treat patients suffering from chronic intractable pain. The recently completed financing will support further development of that next-generation system. The company completed a $27.4M Series C financing to fund product advancement. Investors in the round include Johnson & Johnson Development Corporation alongside existing and new venture backers. No operating metrics or revenues were disclosed in the article.

Total raised

$97M

Funding rounds

3

Latest round

Equity

Latest activity

Jun 2013