NeuroPace - Top 10 VC deals, H2 2011

Company: NeuroPace
Based: Mountain View, CA
Amount: $49 million
Investors: Not disclosed

Scoop: Although it declined to disclose in its SEC filing the purpose of its fundraising, NeuroPace is looking to market implantable devices to treat neurological disorders. It is initially focusing on epilepsy, but it could move into other areas. Although it hauled in $49 million last year, it is hoping to eventually bring in roughly $61 million in this round. There has been plenty of buzz about the company, as it has developed a brain implant for detecting and blocking the onset of difficult-to-control seizures in epileptic patients. The NeuroPace implant monitors the brain, giving jolts of electricity when it senses abnormal electrical activity, indicating the start of a seizure, MIT's Technology Review noted in 2009. In 2005, the company entered a non-exclusive patent cross-licensing agreement with Medtronic ($MDT). Under the terms of the agreement, the companies cross-licensed patents and patent applications of neurological technology related to direct electrical stimulation or monitoring of the brain. In 2008, the company raised about $23 million from Domain Associates, InterWest Partners and Kleiner Perkins Caufield & Byers.

NeuroPace - Top 10 VC deals, H2 2011