NeuroVista attracts $21.5 million |
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NeuroVista attracts $21.5 million
NeuroVista has raised $21.5 million in new financing as the Seattle company continues to develop new medical devices for the treatment of epilepsy. The funding included a $5 million convertible debt round with Cyberonics Inc., which also agreed to enter into a second license agreement with NeuroVista. The remaining $16.5 million in equity financing was provided by GBS Venture Partners, Advanced Technology Ventures, Delphi Ventures and Foundation Medical Partners.
“The NeuroVista Seizure Advisory System is a groundbreaking new platform for empowering people with epilepsy,” said Dr. Steve Gourlay of GBS Venture Partners. “We believe that NeuroVista technology will revolutionize the management and treatment of epilepsy by resolving the uncertainty of when seizures are going to strike, improving patients’ quality of life, and enabling new models for the use of drug therapy.”
The company said that it planned to use the funds for clinical trials and continued technology development. NeuroVista is led by John Harris, a former executive in residence at Versant Ventures and former marketing and business development director at Northstar Neuroscience.
In 2007, the company raised $33.8 million.
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