Presidio Medical

Presidio Medical announced that it closed a $72 million Series C funding round to support its ultra-low frequency (ULF) neuromodulation platform.

Deerfield Management led the round along with existing investors Invus Opportunities and Action Potential Venture Capital. ShangBay Capital joined in the funding as well. David Neustaedter, venture partner at Deerfield, joined Presidio’s board in conjunction with the financing.

South San Francisco-based Presidio plans to use the proceeds to expand its team and scale manufacturing. The company also earmarked funds to support long-term pivotal clinical studies of its ULF spinal cord stimulation (SCS) system.

Presidio develops its technology to treat diseases of undesired neural activity with a first indication in the treatment of chronic pain. The company designed it for the inhibition of this activity with significant advances in hardware, computing and material sciences.

Early trials of the Presidi…

Presidio Medical this week closed $30 million in financing for its neuromodulation platform technology.

The company’s technology is designed to provide pain relief to various pain types where conventional treatment has failed.

Presidio Medical said the investment will be used to develop the technology further to treat chronic pain and expand applications of the platform to address other unmet indications.

The financing round was led by Invus Opportunities and Action Potential Venture Capital.