Nalu Medical – a private company focused on innovative, minimally invasive, and non-opioid solutions for chronic neuropathic pain – recently announced the closing of a $65 million equity financing. The funding round was led by a new investor, Novo Holdings (Novo). Also joining the round were all of the Nalu’s existing significant investors: Gilde Healthcare, MVM Partners, Endeavor Vision, Decheng Capital, Longitude Capital, Advent Life Sciences, Pura Vida, and Aperture Venture Partners. The proceeds from this funding round will be used to accelerate commercial growth, expand clinical and health-economic evidence, continue product development, and scale operations.
The Nalu Neurostimulation System offers gentle electrical pulses to the nervous system to modulate pain signals before they get to the brain. And 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.
KEY QUOTES:
“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 care while also offering a disruptive, minimally invasive, solution in the established spinal cord stimulation market. 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.”
— Tom West, President, and CEO of Nalu
“The differentiated Nalu neurostimulation product has the potential to benefit millions of patients suffering from chronic neuropathic pain. 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). We are delighted to support the strong management team at Nalu in this period of rapid commercial growth.”
— Eric Snyder, partner in the Venture Investments team at Novo Holdings
“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 the strong commercial potential for Nalu.”
— Geoff Pardo of Gilde Healthcare and Chairman of the Nalu Board
