SetPoint Medical Raises $80M in Funding
Summary
SetPoint Medical, a Valencia, CA-based clinical-stage healthcare company dedicated to patients with chronic autoimmune diseases, raised $80M in funding. The company intends to use the funds to complete its ongoing RESET-RA trial and subsequent U.S. Food and Drug Administration (FDA) regulatory submissions and early commercialization for the rheumatoid arthritis indication. Led by Murthy V. Simhambhatla, Ph.D., President and CEO, SetPoint Medical is advancing a novel platform designed to stimulate the vagus nerve to activate the inflammatory reflex to produce a systemic immune-restorative effect. Its platform technology is designed to offer patients and providers a treatment alternative for rheumatoid arthritis, inflammatory bowel disease and other chronic autoimmune conditions with potentially less risk and cost than drug therapy. The SetPoint system has been granted FDA Breakthrough Device Designation for patients with rheumatoid arthritis who have incomplete response to, or are intolerant to, multiple biologic drugs.
Funding
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