FDA adds SetPoint Medical and its multiple sclerosis-treating neuromod to advisory program

[Image from the SetPoint Medical website]SetPoint Medical announced today that the FDA accepted it into the Total Product Life Cycle Advisory Program (TAP) pilot.

TAP provides early and frequent strategic engagement from the FDA, patients, providers and payers. It facilitates rapid development and widespread access to medical devices. Acceptance requires breakthrough device designation, which SetPoint Medical garnered last week.

With acceptance into TAP, SetPoint can progress the development of its novel neuroimmune modulation platform. Valencia, California–based SetPoint designed its nerve modulation technology for people with relapsing-remitting multiple sclerosis (RRMS).

SetPoint designed its device to use precise vagus nerve stimulation. It activates anti-inflammatory and immune-restorative pathways to treat inflammation-mediated autoimmune conditions.

The SetPoint platform features a miniaturized stimulation device placed on the vagus nerve. Onc…

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SetPoint Medical wins FDA breakthrough nod for nerve stim tech for multiple sclerosis

[Image from the SetPoint Medical website]SetPoint Medical announced today that received FDA breakthrough device designation for its novel neuroimmune modulation platform.

Valencia, California–based SetPoint designed its nerve modulation technology for people with relapsing-remitting multiple sclerosis (RRMS). Breakthrough designation enables more communication and priority regulatory review with the FDA. Plus, it supports reimbursement and patient access upon approval.

This isn’t the first breakthrough nod for SetPoint’s technology. It picked up the designation in 2020 to treat rheumatoid arthritis (RA). The company continues evaluating the investigational platform in a pivotal clinical trial for the treatment of RA.

However, the latest breakthrough nod helps the company explore the technology for yet another condition. SetPoint’s platform features a miniaturized stimulation device placed on the vagus nerve. Once placed through a small inc…

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SetPoint Medical raises $80M for nerve stimulation tech that treats autoimmune disease

[Image from the SetPoint Medical website]Autoimmune disease treatment developer SetPoint Medical announced today that it raised $80 million in a preferred stock financing.

Valencia, California-based SetPoint Medical develops a novel platform for treating chronic, inflammation-mediated autoimmune diseases. Its initial focus centers around a potentially less immunosuppressive option for treating rheumatoid arthritis (RA).

New investors Norwest Venture Partners and Viking Global Investors co-led the preferred stock financing. New investor Gilmartin Capital also participated.

Returning investors New Enterprise Associates (NEA), Action Potential Venture Capital, Boston Scientific, Topspin Fund, Euclidean Capital, Morgenthaler Ventures, Richard King Mellon Foundation, ShangBay Capital, Ascendum Capital, Catalio Capital Management, Midas Capital, Citta Capital, SVE Capital, and an undisclosed strategic investor all participated.

“We are thrilled to secure a…

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