{"id":36607,"date":"2009-11-05T08:13:50","date_gmt":"2009-11-05T13:13:50","guid":{"rendered":"http:\/\/www.pehub.com\/?p=54791"},"modified":"2009-11-05T08:13:50","modified_gmt":"2009-11-05T13:13:50","slug":"spinal-modulation-raises-27-million","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/36607","title":{"rendered":"Spinal Modulation Raises $27 Million"},"content":{"rendered":"

Spinal Modulation Inc.<\/strong>, a Menlo Park, Calif.-based developer of a spinal cord stimulator system to treat patients suffering from chronic pain, has raised $27.4 million in Series C funding. Johnson & Johnson Development Corp.<\/strong> led the round, and was joined by DFJ\/InCube Ventures, Raffles Venture Partners and return backers DeNovo Ventures, ePlanet\/DFJ, Kleiner Perkins Caufield & Byers and MedVenture.\u00a0<\/p>\n

PRESS RELEASE<\/span><\/strong><\/p>\n

Spinal Modulation, Inc. announced today the completion of its $27.4 million Series C financing. Johnson & Johnson Development Corporation (JJDC) joined existing major investors including DeNovo Ventures, ePlanet\/DFJ, Kleiner Perkins Caufield & Byers, and MedVenture Associates in this financing. DFJ\/InCube Ventures and Raffles Venture Partners are additional new investors. Proceeds from the financing will be used to support further development of the company\u2019s next generation spinal cord stimulator system to treat patients suffering from chronic intractable pain.<\/p>\n

\u201cAs we begin to better understand the mechanisms behind the disease, treatment options will advance and patients will have more alternatives. When you look at the technologies that currently exist for patients suffering with chronic pain, it is obvious that there is a great need for innovation,\u201d said David Wood, President and CEO of Spinal Modulation, Inc. \u201cWe are very encouraged by our early results with Spinal Modulation\u2019s innovative technology.\u201d<\/p>\n

Chronic pain represents a major cost to the US healthcare system of approximately $90 – $100 billion annually. Up to 30% of Americans are estimated to suffer from chronic pain. The direct medical costs of managing back pain alone in the United States are estimated to be greater than $25 billion per year. As patients progress through the continuum of care, physicians may treat patients by using traditional spinal cord stimulation, a technique in which tiny electrodes are placed near the spinal cord and electric currents are applied to relieve pain. Spinal Modulation is focusing its first product in the chronic pain market by developing a new spinal cord stimulator system to address the huge burden chronic pain represents to the healthcare system.<\/p>\n

About Spinal Modulation<\/p>\n

Spinal Modulation, headquartered in Menlo Park, California, is an early stage, private medical device company developing the next generation spinal cord stimulator system for treating chronic intractable pain. For more information, visit www.spinalmodulation.com.<\/p>\n

ShareThis<\/a><\/p>\n

<\/img><\/a>
\n<\/img><\/a><\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Spinal Modulation Inc., a Menlo Park, Calif.-based developer of a spinal cord stimulator system to treat patients suffering from chronic pain, has raised $27.4 million in Series C funding. Johnson & Johnson Development Corp. led the round, and was joined by DFJ\/InCube Ventures, Raffles Venture Partners and return backers DeNovo Ventures, ePlanet\/DFJ, Kleiner Perkins Caufield […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-36607","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/36607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=36607"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/36607\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=36607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=36607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=36607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}