Based: Menlo Park, CA
Amount: $58 million
Investors: Johnson & Johnson Development, Aberdare Ventures, Accuitive Medical Ventures, Bay City Capital, Mayo Clinic, MPM Capital and Three Arch Partners
Scoop: Menlo Park, CA-based neuromodulation company Nevro is looking to help sufferers of chronic pain. It has developed a therapy for spinal cord stimulation to help those with chronic back and leg pain. While Nevro's system received CE Mark approval in the EU in 2010, it has yet to gain a regulatory sign off in the U.S. But Nevro is hoping to gain the FDA's blessing and will use the money it has raised for a pivotal U.S. trial. The spinal cord stimulation system is commercially available in several markets. In fact, recent data from an Ireland-based trial involving about 80 patients with chronic back pain were quite positive, according to the Irish Times. The results were comparable with previous Nevro data that showed 75% of back pain patients had more than 50% relief, while 90% of leg pain suffers experienced a 50% reduction in pain.