Magnus Medical Launches With Breakthrough Device Designation For Rapid, Individualized Treatment Of Major Depression And $25M In Series A Financing
Magnus Medical Launches With Breakthrough Device Designation For Rapid, Individualized Treatment Of Major Depression And $25M In Series A Financing
10/29/21, 12:00 PM
Location
burlingameIndustry
health care
Round Type
series a
Magnus Medical, Inc., a medical device company, today announced that the U.S. Food & Drug Administration (FDA) has granted the company Breakthrough Device Designation for its individualized, rapid-acting, non-invasive neurostimulation technology designed to treat major depressive disorder (MDD) in people who have not improved sufficiently from antidepressant medication or other treatments. The FDA Breakthrough Device program is intended to help patients receive more timely access to breakthrough technologies that have the potential to provide more effective treatment or diagnosis for life-threatening or debilitating diseases or conditions than previous therapies.
Company Info
Location
burlingame, california, united states
Additional Info
Magnus Medical, Inc., of Burlingame, Calif., is a privately held medical device company co-founded by industry veterans Brett Wingeier, Ph.D., and Brandon Bentzley, M.D., Ph.D., and includes senior executives Scott Ashworth and Romain Moreau-Godard. The Magnus System is a novel innovation with the potential to have a significant positive impact on the treatment of severe depression. 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. This new approach is designed to be delivered on an accelerated timeline and is precisely tailored to each person’s brain connectivity. More information is available at https://www.magnusmed.com.
The Magnus System, currently an investigational device, is expected to require 501(k) clearance from the U.S. FDA and is not yet commercially available.