Neuromodulation company Saluda completes $125 million equity financing

Saluda Medical, a neuromodulation medical device company with an emerging portfolio of therapies based on closed-loop technologies to treat debilitating neurological disorders, completed a $125 million equity financing earlier this quarter.

This was led by existing investor Redmile Group LLC as well as new investors Fidelity Management & Research Company LLC, and funds and accounts advised by T. Rowe Price Associates, Inc.

Net proceeds from the financing will be used to operationalize and commercialize at scale the Evoke Spinal Cord Simulation System (SCS) for chronic pain and to advance the company’s technology platform in an emerging portfolio of neuromodulation therapies. transformational.

Jim Schuermann, President and CEO of Saluda Medical, said, “We are delighted to partner with this group of leading healthcare investors who share our vision of raising the standard of care in areas of neuromodulation with significant unmet patient needs. The full impact of our innovation can only be realized by enabling more patients to be treated with our evidence-based technologies designed to improve long-term outcomes while reducing the burden of care, and we would like to thank our new and existing investors for their partnership. in our journey to accomplish this mission.

Saluda’s innovations are designed to read, record and respond to nerves during stimulation and over the past decade it has advanced technology to enable dosing that can be titrated at the microsecond level to maintain and optimize consistent therapy for patients. The company performed a pivotal double-blind randomized controlled trial (RCT) of spinal cord stimulation (SCS) which showed that nearly 9 out of 10 patients experience long-term pain relief and clinically significant improvements in quality of life, performance of activities of daily living, sleep, mood, and reduction of opioids without any explant due to loss of efficacy. The results of the Evoke study have been published in the clinical neurology journals The Lancet Neurology and JAMA Neurology.

Carol M. Barragan