MedTech Startup ANUEVO Raises $22M Series C for Spinal Cord Injury Tech

ANUEVO, a Los Angeles-based medical technology company advancing non-invasive neuromodulation for people living with spinal cord injury, announced the closing of a Series C funding round of $22M led by Catcher Technology Co. Ltd., with participation from additional new investors. The financing provides additional capital to support the company’s next phase of growth.

“This financing strengthens the operational and regulatory foundation required to responsibly scale ExaStim,” said Yi-Kai Lo, chief executive and co-founder of ANUEVO, in a statement. “We are focused on building manufacturing readiness, advancing regulatory initiatives and expanding access in approved markets in a measured and sustainable manner.”

The Series C financing marks an important step in ANEUVO’s continued development, providing capital to strengthen its manufacturing capabilities, quality systems and regulatory initiatives. Proceeds from the Series C funding will be used to execute commercial launch in approved markets and sales expansion, scale manufacturing, advance U.S. regulatory activities and continue clinical and real-world evidence generation to drive market adoption.

The ExaStim Stimulation System delivers personalized spinal cord stimulation non-invasively, designed to support functional neurorehabilitation for patients with paralysis due to spinal cord injury. ExaStim is a portable neurostimulation device that sends pulses of electricity to a 16-channel, multi-electrode array to stimulate nerves along the spinal cord and dorsal roots. The system is controlled via proprietary programming software on a mobile digital device. The ExaStim Stimulation System is CE marked for use in the European Union and is an investigational device, limited by Federal U.S. law for investigational use in the United States.

Information for this article was sourced from ANUEVO.