SetPoint Medical Raises $80M to Advance Platform for Autoimmune Diseases

What You Should Know:

– Today, SetPoint Medical announced $80M in Series C equity and $65M led by new investors, Norwest Venture Partners and Viking Global Investors, with debt financing provided by Runway Growth Capital.

– The company is developing its novel platform for the treatment of chronic, inflammation-mediated autoimmune diseases and is initially focused on a potentially less immunosuppressive option for the treatment of rheumatoid arthritis (RA). More than 1.5 million people in the U.S. have RA. For those who can’t tolerate or get relief from today’s treatment options, including biologics, SetPoint’s personalized neuroimmune modulation approach has potential to bring relief.

– The company plans to use the funding to complete the company’s ongoing pivotal trial, subsequent FDA regulatory submissions and early commercialization for its device-based therapy for autoimmune diseases such as RA. The RESET-RA study is a multicenter, double-blind, randomized, sham-controlled pivotal trial evaluating SetPoint Medical’s platform for treatment of RA. It will enroll up to 250 patients across 40 U.S. study sites.