J&J among new investors in spine neuromod firm
This article was originally published in Clinica
Spinal Modulation, a Menlo Park, California start-up developing a spinal cord stimulation system, has attracted $27.4m in series C financing from its existing and new investors. Among these new investors are Johnson & Johnson Development Corporation, DFJ/InCube Ventures and Raffles Venture Partners. Proceeds from the financing will be used for further development of the company's spinal cord stimulator, designed to treat chronic intractable pain. According to Spinal Modulation, up to 30% of Americans are estimated to suffer from chronic pain, and the direct medical costs of managing back pain in the US is estimated to be over $25bn a year.
You may also be interested in...
Minimally invasive glaucoma surgery specialist Glaukos saw its stock leap 40% in the wake of a worldwide recall by much bigger rival Alcon of its CyPass microstent.
Roland Diggelmann will end his decade-long career at Roche Diagnostics at the end of September. The business's head of EMEA Michael Heuer will take Diggelmann's place while the search is on for his replacement.
Philips has added a new pulse oximetry platform to its patient monitoring portfolio, with the acquisition of Xhale Assurance.