Neuspera Medical, a CA-based neuromodulation company pioneering the Neuspera Implantable Sacral Neuromodulation (SNM) System has raised $23 Million Series D Funding led by Vertex Ventures HC and Treo Ventures with participation by Action Potential Venture Capital, Windham Venture Partners, Olympus Innovation Ventures and another strategic investor.
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This funding round will fund the company though expected U.S. Food and Drug Association (FDA) premarket approval (PMA) of the Neuspera System, the discreet, minimally invasive, ultra-miniaturized implant designed to provide patients personal control and relief from urinary urge incontinence (UUI), a symptom of overactive bladder (OAB).
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“As a partner of choice for innovators in urology, we are thrilled to invest in the Neuspera team as they bring the Neuspera System through FDA approval and to the market,” said Gabriela Kaynor, President of Olympus Innovation Ventures and Chief Strategy Officer at Olympus Corporation. “Based on critical unmet market need and patient demand, changes in society guidelines, and positive feedback from patients and physicians in clinical trials, we are excited to invest in the Neuspera team as they build their innovative Neuspera System for OAB.”
“We’re excited to bring new partners on board as we approach the next significant milestone of submitting the Neuspera System for regulatory approval,” said Steffen Hovard, CEO of Neuspera Medical. “The confidence and conviction of our new and existing investors, like Olympus Innovation Ventures, demonstrates the strength and potential of our platform technology.”
About Neuspera Medical
Neuspera Medical is committed to developing implantable medical device technology that will improve the lives of patients battling chronic illness. With the first intended indication for use as Urinary Urgency Incontinence (UUI), the platform technology is ultimately designed to deliver targeted bioelectronic medicine for a variety of conditions.
Neuspera’s minimally-invasive implants with external wearable transmitters offer the possibility for therapies to reach deeper, harder to access anatomical locations in the body.
