Saluda Medical has announced a successful $100 million funding round to further develop its innovative closed-loop, dose-control neuromodulation platform. The financing was spearheaded by existing stakeholder Redmile Group, with contributions from current investors such as Wellington Management, TPG Life Sciences Innovation, Fidelity Management & Research Company, Action Potential Venture Capital, and funds advised by T. Rowe Price Associates. Piper Heartland Healthcare Capital also joined as a new investor in this round.
With headquarters in Minneapolis, Saluda aims to apply this funding to advance the market presence of its Evoke neuromodulation system. This marks the debut commercial usage of Saluda’s proprietary neuromodulation technology, which is designed to address chronic pain through spinal cord stimulation (SCS).
The Evoke system dynamically measures and adjusts to neural responses, automatically tailoring therapy to maintain a specific level of neural activation. This automated process ensures that treatment remains consistent with the patient’s personalized requirement, enhancing the effectiveness of pain management.
Featuring MRI labeling, the Evoke system delivers physiologic SCS for the treatment of chronic, persistent pain in the trunk and/or limbs, addressing issues such as post-failed back surgery syndrome, severe back pain, and leg discomfort. Remarkably, the system captures, processes, and responds to stimulation feedback over 4 million times daily.