Startup Treating Crohn's Disease and Rheumatoid Arthritis Raises $30.6M

A California startup treating Crohn's disease and rheumatoid arthritis using neuromodulation has raised $30.6 million, according to a regulatory filing.

SetPoint Medical has developed an implantable miniature neuromodulation device, a wireless charger and an iPad control application to stimulate the vagus nerve to achieve what is known as "Inflammatory Reflex." This is the natural way by which the central nervous system controls the body's immune system.

The therapy intends to be a cheaper and more effective alternative to drugs or biologics solutions. Its website notes that the device is being tested in four European centers on patients who suffer from rheumatoid arthritis.

Since, 2009 and excluding this current round, SetPoint Medical appears to have raised at least $12.3 million. Morgenthaler Ventures, Topspin Partners and Foundation Medical Partners are listed as investors on SetPoint Medical's website.

Physician co-founders Kevin Tracey, president of the Feinstein Institute for Medical Research, and Shaw Warren, attending physician at Mass General Hospital started the company using their expertise in inflammation researcher. Anthony Arnold, a medical device executive who held posts at Boston Scientific, Medtronic and Advanced Bionics, is the company's president and CEO.

A call to the company's general number wasn't immediately returned.

-- By Arundhati Parmar, Senior Editor, MD+DI
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