Magnus Medical Launches With Breakthrough Device Designation for Rapid, Individualized Treatment of Major Depression and $25M in Series A Financing
Summary
In an advance online article published today on the American Journal of Psychiatry website, results from an investigational double-blinded randomized controlled trial (RCT) evaluating SAINT suggest that the novel approach has the potential to be a reproducible, rapid, and highly effective treatment for severe, refractory depression in a broader clinical setting. “Moreover, Magnus will bring to market remarkable technology that greatly improves the clinical outcomes and quality of life for people suffering from intractable depression.” “We believe Magnus Medical’s innovative, accelerated and personalized approach to mental health treatment has the potential to be a game-changer for millions of Americans who suffer from treatment resistant depression,” said Heath Lukatch, Ph.D., founder and managing partner at Red Tree Venture Capital. “This precise, rapid-acting non-invasive neurostimulation technology addresses a critical unmet need in psychiatric disorders and presents a promising, transformative solution for millions of people.” JAZZ Venture Partners invests in companies that extend the boundaries of human performance — improving how we live, learn, work, play, and experience the world. JAZZ portfolio companies are unlocking human potential in health, mind-body wellness, accelerated learning and training, sports, entertainment, and the enterprise. For the first time, advanced imaging technologies combined with personalized neural targeting and novel stimulation patterns have the potential to yield a new form of individualized, non-invasive neurostimulation for people with treatment-resistant depression.