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INS 2017: Saluda's Closed-Loop Spinal Cord Stim Tech Sparks GSK-VC Interest; Solid Preliminary Data

 
• By Tina Tan

Australian closed-loop neuromodulation specialist Saluda Medical looks to be going from strength to strength as it welcomes a $40m injection of fresh funds from investors including the GSK fund, Action Potential Venture Capital. The investment will further support Saluda's expanding clinical activities, from which positive three- and six-month data on the safety and performance of its Evoke closed-loop spinal cord stimulator were presented at the recent 13th International Neuromodulation Society congress in Edinburgh, Scotland.

Saluda Medical Pty. Ltd. has caught the attention of yet another big name in the health care industry, with the closing of a Aus$53m ($40m) Series D financing round led by new investor Action Potential Venture Capital (APVC) – the fund set up in 2013 by pharma giant GlaxoSmithKline PLC to invest exclusively in bioelectronic medicines. APVC was joined by Saluda's existing shareholders, including medtech's biggest player Medtronic.

The funds will be used primarily to support the Australian firm's clinical activities as it seeks to get CE mark,...

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