Spinal Modulation Secures $30 Million Series D Financing (press release)
Spinal Modulation, Inc. announced today the completion of its $30 million Series D financing. Medtronic, Inc. joined existing investors DeNovo Ventures, ePlanet/DFJ, InCube Ventures, Johnson & Johnson Development Corporation (JJDC), Kleiner Perkins Caufield & Byers, MedVenture Associates, and Raffles Venture Partners. Spinal Modulation has completed development of the company’s implantable spinal cord stimulator system. Proceeds from the financing will be used to conduct clinical trials both in the US and internationally. Additionally, the company plans to commence commercialization outside the US in the near future.