Cadence Neuroscience Secures $15 Million Series A Funding to Advance Implantable Neuromodulation Devices for Epilepsy

On October 14, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biotechnology company Cadence Neuroscience (Cadence) announced the completion of a $15 million Series A financing round. The round was led by Jazz Venture Partners (Jazz), with participation from Mayo Clinic and the Epilepsy Foundation of America.

It is reported that Cadence plans to use the funds from this round of financing to develop implantable neurological devices for the treatment of neurological disorders such as epilepsy.

Epilepsy, commonly known as "yangjiaofeng" or "yangdianfeng," is a chronic neurological disorder. In patients with this condition, sudden abnormal discharges of brain neurons lead to transient brain dysfunction, clinically manifesting as episodic motor, sensory, autonomic, consciousness, and psychiatric disturbances. Currently, epilepsy has become the second most common neurological disease in China, surpassed only by headache.

Clinical studies have shown that 70% to 80% of epilepsy patients can control seizures with medication, while those with severe conditions require surgical intervention or implantation of neuromodulation devices. Currently, the FDA has approved three medical devices to help control epileptic seizures, manufactured by LivaNova, a developer of neuromodulation devices; Medtronic, one of the world’s largest medical technology companies; and NeuroPace, a developer of implantable neurological devices.

Cadence, founded in 2017 and headquartered in Washington, USA, is a medical device startup. The company is dedicated to developing novel medical devices for the treatment of epilepsy, central pain, and other neurological disorders.

The development journey of Cadence’s implantable devices traces back to the laboratory of Dr. Gregory Worrell at Mayo Clinic. In collaboration with this medical center, Cadence is developing implantable devices for epilepsy to improve clinical outcomes and enhance patients’ quality of life. Currently, Cadence’s core products are undergoing clinical trials.

Kent Leyde, CEO of Cadence Neuroscience, stated, “Clinical data demonstrate highly promising therapeutic outcomes for our neuromodulation implantable devices. Cadence Neuroscience will continue to explore treatments for neurological disorders.”

Kent Leyde previously served as Chief Technology Officer at the medical device company NeuroVista and as Director of Engineering at Northstar Neuroscience, a developer of neuromodulation therapies. Both companies focused on the development of brain-implantable devices. Kent Leyde will continue to lead Cadence Neuroscience in the research and development of therapeutic devices for neurological disorders, providing new treatment options for patients with epilepsy and other conditions.

Jazz, founded in 2015 and headquartered in San Francisco, USA, is a venture capital firm. The company primarily invests in the intersection of artificial intelligence, digital technology, and neuroscience.

Mayo Clinic, founded in 1863 and located in Rochester, Minnesota, USA, is one of the world’s most renowned medical institutions. Building on its continuously innovative medical education and world-leading medical research, the clinic has established the largest and most technologically advanced integrated healthcare system in the United States. In 2019, U.S. News & World Report ranked Mayo Clinic as the best hospital in the United States.

The Epilepsy Foundation of America is a non-profit organization established in 1968, with its headquarters located in Maryland, USA. The foundation currently has 59 branches and primarily assists epilepsy patients in improving their physical health.

(Compiled by Xu Xiaoxue)