Saluda Medical Announces $150M Equity Financing Led by Wellington Management with Fidelity Management & Research Company and TPG

Key Facts

Saluda Medical Inc. ("Saluda Medical"), a global medical device company revolutionizing the field of neuromodulation with an emerging portfolio of therapies driven by advanced closed-loop technologies designed to treat debilitating neurological disorders, today announced the closing of a US $150 million equity financing round led by new investor Wellington Management, with strong support from current investor Fidelity Management & Research Company and new investor TPG.
Although spinal cord stimulation has been used as a treatment option for chronic pain since 1967, Evoke is the first system designed to automatically self-adjust with millisecond precision to optimize therapy based on a patient's unique spinal cord activation.
SmartSCS™ System, is the only ECAP-controlled closed-loop smart spinal cord stimulation (SCS) system and is indicated as an aid in the management of chronic intractable pain of the trunk and/or limbs, including unilateral or bilateral pain associated with failed back surgery syndrome, intractable low back pain, and leg pain.
The Evoke System automatically reads, records, and responds to the nerves' response to stimulation 4+ million times a day to provide continually optimized therapy and is proven to be superior to open-loop SCS for the treatment of overall trunk and/or limb pain.