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J&J among new investors in spine neuromod firm

This article was originally published in Clinica

Executive Summary

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.

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