Clinical-stage neuromod developer NeoSync said today it closed a $13 million Series D financing round to support a registration trial of its NeoSync-EEG Synchronized transcranial magnetic stimulation technology.
The Boston-based company said its Nest technology is designed to deliver low-energy, alternative magnetic field stimulation to treat individuals with treatment resistant depression.
NeoSync said the round was joined by Valiance Life Science Investments, as well as it’s original investor base. Funding will support a trial of its device, as well as accelerating commercialization efforts.
“With its unique and innovative Nest technology, NeoSync is well positioned to change the way TMS treatment is perceived and delivered. A home-use device is a very compelling proposition for patients suffering from depression and we are delighted to support NeoSync’s management team in their efforts to make their device a clinical and commercial success,” Valiance Life Science Investments founder & CEO Jan Pensaert said in a prepared statement.
“This latest round of funding will allow us to execute remaining activities needed to gain regulatory clearance for our novel device. We believe, once commercially available, our device will open up broader access to TMS, in a more convenient environment for patients,” prez & CEO Kate Rumrill, who will be appearing at the upcoming MassDevice‘s DeviceTalks conference in Boston, said in a prepared statement.