Magnus Medical announced today that it received FDA breakthrough device designation for its neurostimulation technology and raised $25 million.
Burlingame, California-based Magnus designed its individualized, rapid-acting, non-invasive neurostimulation platform to treat major depressive disorder (MDD) for people who have not improved sufficiently from antidepressant medication or other treatments.
Magnus based its system on SAINT technology, which was licensed exclusively to the company from Stanford University for commercialization, according to a news release.
An article published online by the American Journal of Psychiatry included results from an investigational randomized controlled trial evaluating SAINT that demonstrated the potential to be a reproducible, rapid and highly effective treatment for severe, refractory depression in a broader clinical setting.
According to Magnus Medical Co-Founder & CSO Dr. Brandon Bentzley, the study sho…