Saluda Medical has finalised US$125 million in equity financing, with the proceeds being used in part to operationalise and scale commercialisation of the company’s Evoke spinal cord simulation (SCS) system for chronic pain.
The equity financing was led by existing investor Redmile Group as well as new investors Fidelity Management & Research Company, and funds and accounts advised by T. Rowe Price Associates.
Jim Schuermann, president and CEO of Saluda Medical, said: “We are thrilled to partner with this group of leading healthcare investors who share our vision of elevating the standard of care in neuromodulation fields with large unmet patient needs.
“The full impact of our innovation can only be realised by enabling more patients to be treated with our evidence-based technologies designed to improve long-term outcomes while reducing the burden of care, and we wish to thank our new and existing investors for their partnership in our journey to achieve this mission.”
