NeuroPace Raises $67 Million Financing to Support Commercial Expansion of the RNS® System for Refractory Epilepsy
NeuroPace Raises $67 Million Financing to Support Commercial Expansion of the RNS® System for Refractory Epilepsy
08/31/20, 11:38 AM
Location
mountain viewMoney raised
$67 million
NeuroPace, Inc., a Silicon Valley-based medical technology company, today announced it has raised $67 million in a funding round led by Accelmed Partners with participation from an unnamed strategic investor, Revelation Partners, Soleus Capital, and returning investors KCK Group and OrbiMed Advisors. The financing includes $33 million of new equity capital and $34 million from convertible debt provided by current investors from a prior funding round. An additional $27 million in committed capital is available in a second tranche. The funds will be used to accelerate commercial growth and to pursue expanded indications for the RNS® System, the company’s innovative technology for refractory focal epilepsy.
Company Info
Location
mountain view, california, united states
Additional Info
1 in 26 Americans will develop epilepsy in their lifetime, with approximately 150,000 new cases of epilepsy diagnosed annually. An estimated 3.4 million Americans currently live with epilepsy and there are 1 million refractory individuals who do not respond to anti-seizure medications. Epilepsy is a chronic disorder, the hallmark of which is recurrent, unprovoked seizures. More people live with epilepsy than autism spectrum disorder, Parkinson’s disease, multiple sclerosis and cerebral palsy – combined.3