NeuroPace has received $67m in a financing round, to support the commercial growth and expand indications for its RNS System, an advanced technology for refractory focal epilepsy.
Led by Accelmed Partners, the financing round saw participation from an unnamed strategic investor, Revelation Partners, Soleus Capital, and returning investors KCK Group and OrbiMed Advisors.
The company said that RNS System is the first and only FDA approved brain-responsive neurostimulator that prevents seizures at their source, before they begin.
Accelmed Partners general partner and NeuroPace new board member Evan Norton said: “NeuroPace has set the standard for epilepsy neuromodulation technology, with its unique ability to continuously monitor EEG data and respond with closed-loop stimulation.
“The company’s differentiated technology, unmatched clinical outcomes, and the large unmet market need it addresses make it a compelling investment in line with our goal of supporting healthtech companies poised for significant growth. We are enthusiastic about the team and excited about the market potential of this game-changing therapy.”
RNS System is a neurostimulator designed for the treatment of refractory epilepsy
NeuroPace is engaged in developing advanced technology and its first product, the RNS System is a brain-responsive neurostimulator designed for the treatment of focal onset refractory epilepsy. The adjunctive therapy is intended for adults with refractory, focal onset seizures.
The RNS System works by continuously monitoring brain waves, recognising patients’ individual unique ‘seizure onset fingerprint’, and automatically responds with electrical pulses prior to seizures.
Data from recent research publications demonstrated that the RNS System has reduced 82% median seizure at three or more years, and offered enduring improvements in quality of life and cognition.
Apart from its clinical benefits, the RNS System allows physicians to optimise the patients’ epilepsy care by delivering data-driven insights through continuous monitoring and recording EEG data.
NeuroPace CEO Mike Favet said: “This round of financing will enable us to execute our commercial strategy and maximize therapy adoption at comprehensive epilepsy centers. It will also fund a clinical trial to expand our indication to patients under 18 years old, a population whose quality of life is especially impacted by epilepsy.
“We now have the highest seizure reduction rates reported by any epilepsy neuromodulation device, a robust product innovation pipeline, and market expansion opportunities. With this additional funding, we can bring RNS System’s life-changing technology to significantly more people who are living with refractory epilepsy.”
