Saluda Medical, a Minneapolis, MN-based commercial-stage medical device company, raised $100M in funding.
The round was led by Redmile Group, with participation from existing investors Wellington Management, TPG Life Sciences Innovation, Fidelity Management & Research Company, Action Potential Venture Capital, and funds and accounts advised by T. Rowe Price Associates, Inc. New investor Piper Heartland Healthcare Capital also participated.
The company intends to use the funds to advance the commercialization of the Evoke® System, the first commercial application of its proprietary closed-loop, dose-control neuromodulation platform.
Saluda Medical is a commercial-stage medical device company focused on developing treatments for chronic neurological conditions driven by a novel neuromodulation platform, which is designed to sense and measure neural responses to stimulation and automatically adjust therapy based on real-time neurophysiological feedback. Its first product, the Evoke® System, is indicated as an aid in the management of chronic intractable pain of the trunk and/or limbs, including unilateral or bilateral pain associated with failed back surgery syndrome, intractable low back pain, and leg pain, and is designed to treat chronic neuropathic pain by providing spinal cord stimulation (SCS) therapy that senses and measures neural activation to optimize therapy and reduce patient and clinician burden.
FinSMEs
13/01/2025
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