SetPoint Medical Raises $64M in Preferred Stock Financing to Support Pivotal Trial for its Novel Bioelectronic Platform
January 27, 2021 09:00 ET | Source: SetPoint Medical SetPoint Medical Valencia, California
VALENCIA, Calif., Jan. 27, 2021 (GLOBE NEWSWIRE) SetPoint Medical Corporation today announced raising $64M in a Preferred Stock Financing to support its RESET-RA pivotal trial in patients with rheumatoid arthritis (RA). The company is developing its platform for the treatment of chronic, inflammation-mediated autoimmune diseases and is initially focused on a potentially efficacious, yet less immunosuppressive option for the treatment of RA.
This financing was led by New Enterprise Associates (NEA) and included returning investors Action Potential Venture Capital, Boston Scientific, Topspin Fund, Morgenthaler, Euclidean Capital and an undisclosed strategic investor. New investors including ShangBay Capital, Richard King