Carlsbad, California (USA) – Nalu Medical Inc. (Nalu), a private company focused on innovative, minimally invasive, and non-opioid solutions for chronic neuropathic pain, announced today the closing of a $65 million equity financing. The round was led by a new investor, Novo Holdings. Also participating in the round were all of Nalu’s existing significant investors including Gilde Healthcare. The proceeds from this financing will be used to accelerate commercial growth, expand clinical and health-economic evidence, continue product development and scale operations.
“The Nalu team is excited about meaningfully expanding and improving the treatment options in the peripheral nerve pain space by setting a new standard of proven care while also offering a disruptive, minimally invasive, solution in the established spinal cord stimulation market,” said Tom West, President, and CEO of Nalu. “We continue to invest in building clinical data to expand access for patients who often don’t have other therapeutic options. We are proud that our efforts serve the greater well-being of patients who suffer from chronic pain and benefit those that care for them.”
“Nalu’s differentiated neurostimulation product has the potential to benefit millions of patients suffering from chronic neuropathic pain,” said Eric Snyder, partner in the Venture Investments team at Novo Holdings. “We are impressed with their growing body of clinical evidence demonstrating meaningful clinical results in both the emerging market for peripheral nerve stimulation (PNS) and in the established market of spinal cord stimulation (SCS). And we are delighted to support Nalu’s strong management team in this period of rapid commercial growth.”
“Nalu has made tremendous strides commercially and clinically in the past two years. Novo’s investment in Nalu reflects that progress and the confidence they share in Nalu’s strong commercial potential,” offered Geoff Pardo of Gilde Healthcare and Chairman of the Nalu Board.
About Nalu Medical
Nalu is a Carlsbad, California-based medical technology company focused on developing and commercializing innovative and minimally invasive solutions for patients with chronic neuropathic pain. The Nalu Neurostimulation System delivers gentle electrical pulses to the nervous system to modulate pain signals before they get to the brain. The Nalu System was designed to address major unmet needs in the treatment of chronic neuropathic pain and provide a differentiated value proposition for patients and physicians.
About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor managing over €2.6 billion across two fund strategies: Venture&Growth and Private Equity. The Venture&Growth fund of Gilde Healthcare invests in fast growing companies active in digital health, medtech and therapeutics, based in Europe and North America. The Private Equity fund of Gilde Healthcare participates in profitable lower mid-market healthcare companies based in North-Western Europe.
This article was originally published by Gilde Healthcare and can be viewed here