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Nevro completes $58 million financing round

Friday, July 22, 2011 10:22 AM

Nevro, a neuromodulation company focused on relief of chronic pain, has completed a $58 million financing round led by new investor Johnson & Johnson Development (JJDC). Existing investors Aberdare Ventures, Accuitive Medical Ventures, Bay City Capital, Mayo Clinic, MPM Capital and Three Arch Partners also participated.

The funds will be used to sponsor a pivotal clinical study in the U.S. and provide continued support for the company's international commercialization strategy.

"This round of financing will underpin our expansion in global markets and fund U.S. clinical development efforts for this next generation neuromodulation technology. There is a significant need for better outcomes, a simpler procedure, and an enhanced patient experience in the treatment for chronic pain. We hope to address these needs,” said Michael DeMane, CEO of Nevro.

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