• NICO

  Participated · Equity · Feb 2016

  Nico Corporation, led by president and CEO Jim Pearson, completed a $12.5M capital raise to support its clinical and commercial efforts. The round was led by RC Capital with participation from existing investors. The company intends to use the funds to scale the business and to leverage progress from a recently completed adaptive clinical trial for intracerebral hemorrhage (ICH) and a new partnership in functional precision oncology for treatment‑resistant GBM. Nico develops MIS neurosurgical technologies that access deep brain abnormalities through the brain’s natural folds rather than by cutting through brain tissue. Its product family includes tools for safe removal of abnormalities or hemorrhages and technologies for biological preservation of tumor tissue for molecular profiling. That preservation capability is intended to enable improved accuracy for today’s precision medicine treatments. Nico develops technology for corridor surgery (cranial, ENT, spinal, and otolaryngology) where access to the surgical site is limited, centered on its FDA-cleared BrainPath® and Myriad® technologies. Its products address primary and secondary tumors and hemorrhagic stroke. The company plans to use the newly raised capital for new product development and commercialization, additional clinical studies in tissue collection and biological preservation for personalized medicine research initiatives, growth of sales and clinical teams, and geographic expansion initially within Europe. Nico closed $12.5m in the current funding round and has raised $49.5m since founding. The company is led by president and CEO Jim Pearson and currently has a presence in the U.S., United Kingdom, Canada, Singapore, and Australia. Nico Corporation develops and manufactures neurosurgery medical devices focused on the BrainPath access, tissue removal and tissue preservation technologies for minimally disruptive corridor neurosurgery. Its instruments enable entry into limited-access surgical sites such as cranial, ENT, spinal and otolaryngology areas to treat primary and secondary brain tumors, vascular abnormalities and secondary bleeds. BrainPath was launched in 2012 and more than 3,000 BrainPath procedures have been performed to date. The company plans to use new financing to support continued growth and to perform a randomized controlled trial evaluating the clinical effectiveness of early surgical intervention using the BrainPath device following intracerebral hemorrhage. Financially, Nico secured an $8M credit facility to support these efforts. Founded in 2007, the company combines device development and clinical study efforts to expand adoption of minimally disruptive neurosurgical approaches. Nico Corporation designs medical devices and instruments intended to advance corridor surgery in cranial, ENT, spinal and otolaryngology procedures by enabling access through smaller openings and resection of soft tissue abnormalities. The company is led by president and CEO Jim Pearson. It completed a $15M investment to support its clinical and commercial initiatives. Proceeds will be used to advance clinical data through a randomized controlled trial and to expand customer training of Nico technology. Nico also plans to commercialize new products, expand beyond North America, and hire staff to support these initiatives. The company is based in Indianapolis. NICO Corp, based in Indianapolis, makes the NICO Myriad, a minimally invasive surgical tool designed to remove all soft tumor tissue in the central nervous system. The Myriad launched two months ago and is approved for adults and children. The device does not use heat, which the company says reduces heat-related damage to nearby nerves and blood vessels and gives surgeons better control for difficult tissue shaving around critical areas. NICO says the tool can cut procedure times. The company is two years old and has previously raised about $1.7 million in February to support the product. The recent financing is intended to increase production capacity and expand sales of the Myriad. CEO Jim Pearson stated the investments will allow NICO to ramp up production and provide new minimally invasive surgery options to patients.

No current team members are available.