MicroTransponder has received $65m in a Series F financing round, which aims to enhance its stroke care offerings with the Vivistim Paired vagus nerve stimulation (VNS) System.
The financing round was spearheaded by US Venture Partners (USVP) and included various current investors alongside new investors, Longitude Capital and Gilde Healthcare.
Existing investors comprise Action Potential Venture Capital, Osage University Partners, GPG Ventures, Exceller Hunt Ventures, and The Vertical Group.
Vivistim’s activation during at-home activities and rehabilitation exercises claims to stimulate the brain through the vagus nerve, a process known as Paired VNS therapy.
This therapy is intended to improve the brain’s ability to form new neural pathways.
Many of the users report no sensation from the stimulation but do experience a noticeable improvement in hand and arm function over time.
According to the company, the Food and Drug Administration (FDA)-approved intervention has been clinically demonstrated to assist survivors of chronic ischemic stroke regain two to three times more upper extremity function compared to high-intensity stroke therapy alone.
MicroTransponder states that the implanted device works in tandem with VNS during therapy sessions focused on high-repetition and goal-oriented activities. It also gained breakthrough device designation from the FDA.
This pairing helps improve neuroplasticity, allowing stroke survivors to achieve improvements in their hands and arms’ usage in their daily activities.
The quick adoption of the system can be attributed to the strategic partnerships between the company and various clinics, and hospital systems.
MicroTransponder CEO Richard Foust said: “We’ve built programmes in 20% of Joint Commission Comprehensive Stroke Centers and 50% of Becker’s 2024 100 Great Neuro and Spine Programs by presenting Vivistim as the evidence-based chronic stroke recovery solution that’s been missing from the stroke continuum of care.
“In partnership with leading healthcare providers, we’ve helped build new programmes that support our goal of changing the standard of care for stroke treatment across the US, renewing hope for stroke survivors and their caregivers.”