Neuspera Medical Secures $26 Million in Series B Funding to Advance Implantable Neuromodulation Platform

On January 24, 2018, neuromodulation medical company Neuspera Medical announced the preliminary completion of its Series B equity financing. On February 20, 2019, the company announced the closing of its Series B equity financing.

VCBeat (WeChat Official Account: vcbeat) has learned from foreign media that the total amount raised in this round of financing is $26 million, with the final $12 million portion completed at closing. The proceeds from Neuspera Medical’s financing will be used to advance the development of the company’s implantable neuromodulation products and to conduct clinical programs.

It is reported that this round of financing was led by 6 Dimensions Capital, with participation from existing Series A investors Action Potential Venture Capital and Windham Venture Partners, as well as new investors Delta Capital and Purple Arch Ventures. In addition, Dr. Ching Zhu, Executive Partner at 6 Dimensions Capital, the lead investor in this round, has joined the Board of Directors of Neuspera Medical.

The advancement of medicine has been propelled by the therapeutic implantation of electronic devices into patients. However, these "miniature implants" face numerous technical challenges, such as limitations in energy transmission to deep tissues due to device coil constraints, susceptibility of electronic leads to displacement, and limited battery life. These are critical issues that must be addressed in the development of implantable microelectronic devices. Particularly when performing implant-based therapies on vital structures like nerves, highly efficient and robust implantable devices are essential for ensuring patient safety.

Neuspera Medical is a technology company specializing in the development of implantable neuromodulation electronic devices. The company holds an exclusive patent license for miniature neuromodulation technology, which is used to develop bioelectronic medicines. Currently, its neuromodulation electronic devices are approved for surgical implantation in the treatment of chronic pain and overactive bladder.

Neuspera Medical’s Electroceuticals (Image Source: Official Website)

Over time, the battery of micro-implants gradually depletes, leading to a progressive decline in the efficacy of electronic drugs. Neuspera Medical has developed a unique mid-field power transfer technology that enables electromagnetic waves to power implanted medical devices, thereby addressing the limited battery capacity of micro-implants.

Mid-field power transfer technology utilizes the human body as a natural waveguide to focus power, ensuring that energy is delivered precisely to the required locations. This highly efficient power transmission enables power receivers to be miniaturized to within a few millimeters, allowing these microscopic devices to be implanted into target anatomical structures that were previously inaccessible. When powered by electrical stimulation, these devices have successfully treated neurological disorders.

Schematic Diagram of Neuspera Medical’s Electroceutical Mechanism (Image Source: Official Website)

Furthermore, Neuspera Medical’s implantable device is 280 times smaller than traditional implantable pulse generators, yet it enables continuous power transmission to stimulate nerves at depths exceeding 10 centimeters. By harvesting substantial energy within the tissue, it can radiate power to deeper tissue targets—such as bone, fat, and muscle—thereby powering multiple implants.

Neuspera Medical was founded on December 3, 2013, and is headquartered in San Jose, United States. To date, the company has completed three rounds of financing, including this latest round, raising a total of $46.9 million.

6 Dimensions Capital is an investment firm focused on the healthcare and medical sectors, formed in May 2017 through the merger of Allsino Capital and Yucheng Capital. Covering markets in both China and the United States, the firm manages RMB 10 billion in assets, making it one of the largest investment institutions in the industry.

Action Potential Venture Capital is a strategic venture capital fund investing in the biopharmaceutical sector. Established in 2013 and headquartered in Cambridge, Massachusetts, USA, it comprises a small, specialized team from GlaxoSmithKline (GSK). The firm primarily invests in bioelectronic medicines, neuromodulation therapies, and healthcare. To date, it has completed more than ten investments.

Windham Venture Partners, established in 2006 and headquartered in New York, USA, is a venture capital firm focused on the healthcare sector. The firm primarily invests in early-stage startups, with a particular emphasis on medical technology (devices and diagnostics) and digital health (the intersection of biology, genomics, and information technology). To date, the firm has completed 24 portfolio investments.

Delta Capital (Deltai Capital), established in 2010, is a comprehensive equity investment fund management platform focused on early-stage investments. Currently, Delta directly manages five RMB funds and one USD fund, and participates in the management of two additional RMB funds, with total assets under management reaching RMB 3 billion. Delta Capital’s investments focus on companies in the consumer services, information technology, intelligent manufacturing, and healthcare sectors.

Purple Arch Ventures, established in 2017, is a venture capital fund composed of Northwestern University alumni but is not affiliated with the university. The firm makes 15 to 20 investments annually across various industries and geographies. To date, it has completed 25 portfolio investments.

(Editor: Wang Chan)