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Series C brings Israeli neurostim firm BrainsGate $27.5mm
15 Aug 2008
Executive Summary
First-time investor Johnson & Johnson Development Corp. led the $27.5mm Series C financing in BrainsGate (electrical spheno-palatin ganglion stimulation). Fellow new backer Agate Medical Investments also participated ($5mm), along with returning shareholders including Elron Electronic Industries ($6.6mm, increasing its stake to 23.3%), Pitango Venture Capital, MB Venture Capital, and Alice Ventures. The company, which had a pre-money value of $50mm, will use the proceeds for a key study needed to support regulatory filing of its electrode implant for acute ischemic stroke.
Deal Industry
- Medical Devices
-
Pharmaceuticals
- Drug Delivery
-
Medical Devices
- Implantable Devices
Deal Status
- Final
Deal Type
-
Financing
- Venture Financing
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Series C brings Israeli neurostim firm BrainsGate $27.5mm
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