Nalu Medical, Inc. (“Nalu”), a private medtech company focused on providing minimally invasive solutions for treating chronic pain, announced today the completion of a $104 Million equity financing. The round was led by new investors Gilde Healthcare and MVM Partners. Also participating in this round were new investors Pura Vida Investments and Aperture Venture Partners, as well as existing investors Advent Life Sciences, Decheng Capital, Endeavour Vision, and Longitude Capital. Proceeds from this financing will be used for scaling commercial operations to accelerate growth, fund a large multi-center peripheral nerve stimulation clinical study and continued product development.
“We believe Nalu’s technology is one of the most advanced on the market, with huge potential to meet the needs of more patients,” said Geoff Pardo of Gilde Healthcare, who joins Nalu’s Board of Directors. “Chronic pain causes suffering to millions and can be addressed by targeted, non-addictive therapy. Nalu is uniquely positioned to meet this medical need by providing a patient friendly, neurostimulation technology,” said Hugo Harrod, a partner with MVM partners, who is also joining the Board.
“This additional funding underscores the potential of Nalu’s miniaturized technology and will allow us to accelerate the already strong adoption of our system,” said Earl Fender, President and CEO of Nalu “We appreciate the continued support of our investors, who share our mission of commercializing innovative and minimally invasive solutions that make meaningful differences to people suffering from chronic pain.”
J.P. Morgan served as financial advisor to Nalu on this transaction.
About Nalu Medical
Nalu is a Carlsbad, California-based medical technology company focused on developing and commercializing innovative and minimally invasive solutions for patients with chronic neuropathic pain. The Nalu Neurostimulation System delivers gentle electrical pulses to the nervous system to modulate pain signals to the brain. The Nalu system was designed to address major unmet needs in the treatment of chronic neuropathic pain and provide a differentiated value proposition for patients and physicians.
About the Nalu Neurostimulation System
The Nalu system consists of a fully-featured, battery-free, miniaturized implantable pulse generator (IPG) that is powered wirelessly by an externally worn Therapy Disc and controlled through a smartphone-based remote control app. Despite its small size, Nalu’s micro-IPG delivers treatment capabilities similar to larger IPGs as well as unique advantages associated with advanced waveforms, extensive programming options, exceptional upgradability, and a system life of 18 years. The Nalu Neurostimulation System is currently FDA-cleared for Spinal Cord Stimulation (SCS) and Peripheral Nerve Stimulation (PNS) indications. To learn more, visit http://nalumed.com.
About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor with two fund strategies: Venture&Growth and Private Equity. The firm operates out of offices in Utrecht (The Netherlands), Frankfurt (Germany) and Cambridge (United States). Gilde Healthcare Venture&Growth invests in fast growing, innovative companies active in (bio)pharmaceuticals, healthtech and medtech that are based in Europe and North America. For more information, please visit www.gildehealthcare.com.
