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Novo Ventures leads $48mm Series C round for Nevro
27 Mar 2013
Executive Summary
New backer Novo Ventures has led a $48mm Series C financing for neuromodulation device maker Nevro Corp. Other first-time investors New Enterprise Associates and Covidien Ventures were joined by returning buyers Accuitive Medical Ventures, Bay City Capital, Johnson & Johnson Development Corp., the Mayo Clinic, MPM Capital, and Three Arch Partners. Nevro will use the funds for the ongoing US clinical study of its Nevro Senza high-frequency spinal cord stimulator for chronic back pain (the device is already launched in Europe and Australia). The funds will also support investigation of potential other indications, and US and international commercialization activities.
Deal Industry
- Medical Devices
-
Medical Devices
- Implantable Devices
Deal Status
- Final
Deal Type
-
Financing
- Venture Financing
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Novo Ventures leads $48mm Series C round for Nevro
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