NeuroPace Archives - Medical Design Sourcing

NeuroPace CEO resigns, former Integer exec to take over

New NeuroPace CEO Joel Becker. [Image from Joel Becker on LinkedIn]NeuroPace (Nasdaq:NPCE) announced that Michael Favet resigned from his position as CEO and as a member of the company’s board of directors.

Favet’s resignation goes into effect on July 10, 2023. He intends to participate in NeuroPace’s officer severance benefit plan, according to a news release. The company — maker of the FDA-approved RNS system for treating epilepsy — provided no further details on the reason for Favet’s resignation.

In connection with his resignation, Favet and NeuroPace entered into a consulting agreement. He agreed to serve as an advisor providing consulting services for 12 months from the separation date to assist with the transition.

On June 28, NeuroPace appointed Joel Becker to the vacated CEO and board member positions. His appointment goes into effect the same day as Favet’s resignation. Appointed as a Class I director, Becker’s …

NeuroPace announces first patient implant in trial of neuromod treatment for epilepsy

The NeuroPace RNS system (Image from NeuroPace)

NeuroPace (Nasdaq:NPCE) announced that the first patient received their implant in the Nautilus clinical study of its RNS system.

The company’s Nautilus study evaluates the safety and efficacy of its RNS system. It aims to treat individuals aged 12 and older with drug-resistant idiopathic generalized epilepsy (IGE). This is also known as primary generalized epilepsy.

NeuroPace designed its FDA-approved RNS system as a brain-responsive neuromodulation system. It features closed-loop technology that delivers personalized, data-driven treatment targeted to the seizure source. It does so by continuously monitoring brain activity and recognizing unique seizure patterns. Through this, the system responds in real-time with stimulation to prevent a seizure.

Co-investigators Dr. Angela Crudele and Dr. Dario Englot performed the first procedure at Vanderbilt Health in Nashville, Tennessee.

“Today, we hav…

MedTech 100 roundup: New all-time best reached

Once again, the medtech industry has soared to new heights, eclipsing its all-time best performance by the tiniest of margins.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week (July 2) at 114.59 points, coming in just 0.01 points ahead of the 114.58-point mark set in April — previously the industry’s all-time best performance.

The new high mark also represents a 1% rise from the 113.42-point total reached last week (June 25). The industry took a strong June into July, rising nearly 7% over the past four weeks.

Having overcome some recent setbacks, medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry has registered a 24.1% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus an 84.4% increase from the mid-pandemic low of 62.13 (March 23, 2020).

The positive movement in medtech …

NeuroPace wins five-year $9.3M grant from NIH

NeuroPace today announced that it has received a $9.3 million National Institutes of Health grant to study Lennox-Gastaut Syndrome treatment.

The NIH through the Brain Research through Advancing Innovative Neurotechnologies (BRAIN) Initiative will provide up to $9.3 million over a five-year period to evaluate the use of Mountain View, Calif.-based NeuroPace’s RNS neuromodulation system to treat Lennox-Gastaut Syndrome (LGS).

“LGS is a horrific epilepsy syndrome that develops in very young children and results in daily seizures, frequent seizure emergencies and hospitalizations, and significant developmental delays,” Tracy Dixon-Salazar, executive director of the LGS Foundation, said in a news release. “Most people living with LGS have tried more than a dozen treatments and yet seizures persist and families live life waiting for the next seizure crisis. I am so encouraged by the research being done with the RNS System and am hopeful that …

MedTech 100 roundup: New heights reached again

One week after recording its all-time best performance, the medtech industry once again topped itself, storming even further ahead.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — has been on the rise since April began, with last week’s mark of 112.25 (April 16) representing an all-time best, topping the previous high of 110.96 set on Feb. 15.

Just one week later, the index has already bested itself again, reaching 114.58 to end the week on April 23, marking an increase of 2.1% from the previous week.

The rapid improvement continues to shine a light on the strong position the industry has maintained more than a year on from the height of the COVID-19 pandemic’s impact on medtech. The industry has produced a 24.1% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus an 84.4% increase from the mid-pandemic low of 62.13 (March 23, 2020).

The overall markets fared di…

DeviceTalks Weekly Podcast – iRhythm CEO Mike Coyle, New Podcast!

In this podcast, iRhythm CEO Mike Coyle discusses his decision to join the digital health leader in January.

Coyle’s had to hit the ground running as iRhythm manages some challenging decisions from regional Medicare payors but he also sees great opportunity for the company’s ZIO platform across the healthcare spectrum.

In this conversation, Coyle discusses

How he came to join the Medtech industry. The potential for its ZIO cardiac monitoring technology How the company is dealing with a disappointing reimbursement How the company will pursue the large asymptomatic market What’s expected to come from the company’s partnership with Verily

We also introduce the newest member of our DeviceTalks Podcast family! Catch an excerpt of the first episode in this week’s podcast. Subscribe to hear future episodes.

Caffeine-fueled Chris Newmarker, executive editor of life sciences at Mass Device, takes a break from earnings week to roll out a powerful #newmark…

NeuroPace up more than 37% on first day of trading

The NeuroPace RNS system (Image from NeuroPace)

Epilepsy treatment developer NeuroPace (NSDQ:NPCE) shares skyrocketed today during its first day of trading on the Nasdaq market.

Mountain View, Calif.-based NeuroPace shares were trading up 37.4% at $23.35 per share in mid-afternoon trading today.

The company announced last month that it filed with the SEC to raise up to $75 million in an initial public offering. According to a news release, the IPO was upsized from the initial expectations, with the company offering 6 million shares of common stock at $17 per share, totaling gross proceeds of $102 million.

Additionally, the company is offering underwriters a 30-day option to purchase up to an additional 900,000 shares of its common stock at the initial offering price. The company expects the offering to close on April 26 after shares began trading on the Nasdaq today under the NPCE ticker.

NeuroPace develops the RNS system, which it touts as the wo…

MedTech 100 roundup: Heading back to previous heights?

Although March brought on tough times for top stocks in the medtech industry, April is already showing signs of a rebound.

The year’s strong start, during which MassDevice‘s MedTech 100 index notched an all-time best of 110.96 points (Feb. 15) came to an end later that month and carried over into March, with the index hitting its lowest recent point on March 8 (102.16), marking a fall at a level not seen since October.

Even after a handful of slight improvements over the month of March, the industry never quite found its footing, ending the month below the 105-point mark.

The first week of April has already presented positive movement, though, with the industry rising to 106.26 points as the week ended on April 2, a 1.3% rise from the 104.87-point mark set the week prior on March 26.

Improvements highlight the secure position the industry has nestled into a year on from the height of the COVID-19 pandemic’s impact on medtech, as the industry…

NeuroPace files $75M IPO

The NeuroPace RNS system (Image from NeuroPace)

Refractory focal epilepsy treatment developer NeuroPace last week filed with the SEC to raise up to $75 million in an initial public offering.

Mountain View, Calif-based NeuroPace develops the RNS system, which it touts as the world’s only closed-loop brain-responsive neurostimulation system designed to prevent seizures at their source.

The RNS system includes a neurostimulator, leads placed at the seizure foci, a remote monitor for uploading data and an RNS tablet and patient data management system for physicians to view data on a secure website and use to personalize therapy.

In the prospectus for the company’s IPO, NeuroPace said that, as of Dec. 31, 2020, more than 3,000 patients have received its RNS system. The company plans to list on the Nasdaq under the NPCE ticker, having confidentially filed for the IPO on Jan. 29, 2021.

NeuroPace said the principal purpose of the IPO is to collect a…

DTW Podcast: KCK’s Long says deals getting done during COVID era

Karen Long, managing director at KCK Group

In this week’s DeviceTalks Weekly Podcast, Karen Long, managing director at KCK Group, says startups looking for funding have an opportunity to catch the eye and ear of investors.

KCK, an active medtech investor, has been involved in two sizable investments this summer including Aerin Medical and NeuroPace. Both were portfolio companies, but Long says KCK is in the market for new deals.

“We’re looking at companies and where we have the ability to take these ZOOM calls and take pitches that would have normally required a lot of travel and a lot of time to plan,” Long said in this week’s episode.” We can do it in a half hour, 45 minutes and at least we have the introduction and can see if it makes sense to continue.”

Medtech executives looking for more insight on the fundraising market can register for today’s DeviceTalks Tuesday discussion where …

DTW Podcast: KCK’s Long says deals getting done during COVID era

Karen Long, managing director at KCK Group

In this week’s DeviceTalks Weekly Podcast, Karen Long, managing director at KCK Group, says startups looking for funding have an opportunity to catch the eye and ear of investors.

KCK, an active medtech investor, has been involved in two sizable investments this summer including Aerin Medical and NeuroPace. Both were portfolio companies, but Long says KCK is in the market for new deals.

“We’re looking at companies and where we have the ability to take these ZOOM calls and take pitches that would have normally required a lot of travel and a lot of time to plan,” Long said in this week’s episode.” We can do it in a half hour, 45 minutes and at least we have the introduction and can see if it makes sense to continue.”

Medtech executives looking for more insight on the fundraising market can register for today’s DeviceTalks Tuesday discussion where …

NeuroPace raises $67M for RNS system

The NeuroPace RNS system (Image from NeuroPace)

NeuroPace announced today that it raised $67 million for its RNS system for treating refractory focal epilepsy.

Accelmed Partners led the round, while an unnamed strategic investor, Revelation Partners, Soleus Capital and returning investors KCK Group and OrbiMed Advisors also participated, according to a news release.

Mountain View, Calif-based NeuroPace’s financing includes $33 million in new equity capital and $34 million from convertible debt provided by current investors from a prior round. A $27 million second tranche comprised of committed capital is available, too.

The company intends to use the funds raised to accelerate commercial growth and to pursue expanded indications for its RNS system, which it touts as the world’s only closed-loop brain-responsive neurostimulation system designed to prevent seizures at their source. It inclu…