With its FDA-approved neurostimulator implant aimed at helping patients recover from stroke, MicroTransponder has raised $65 million in venture capital funding to expand its commercial reach.
The company’s Vivistim system targets the body’s vagus nerves in the neck, delivering electrical pulses during exercise regimens to help retrain a damaged brain to respond to the body’s motor signals. It was greenlit by the FDA in 2021 for people who have lost mobility in the arms and hands following an ischemic stroke.
Earlier this year, MicroTransponder put forward real-world data showing an initial six-week therapy protocol, including in-clinic occupational or physical therapy, led to improvements in upper extremity control. Patients can also launch their own 30-minute training sessions at home by placing a magnet over the implant.
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MicroTransponder grabs macro funding round with $73M for stroke rehab neurostimulator
“We've built programs in 20% of Joint Commission Comprehensive Stroke Centers and 50% of Becker's 2024 100 Great Neuro and Spine Programs by presenting Vivistim as the evidence-based chronic stroke recovery solution that's been missing from the stroke continuum of care,” MicroTransponder CEO Richard Foust said in a statement.
“In partnership with leading healthcare providers, we've helped build new programs that support our goal of changing the standard of care for stroke treatment across the U.S., renewing hope for stroke survivors and their caregivers,” Foust added.
MicroTransponder’s series F funding round was led by US Venture Partners, and included new backers in Gilde Healthcare and Longitude Capital, as well as returning investors from Osage University Partners, Action Potential Venture Capital, GPG Ventures, The Vertical Group and Exceller Hunt Ventures. The company previously raised $73 million in a late 2022 series E financing.