Medical device developer MicroTransponder Inc. raised $7 million Series B round financing for its next clinical trial, according to a press release today.
The Austin company is testing a wireless neurostimulation platform that will treat chronic pain and other neurological indications. MicroTransponder did not name the investors, but said the latest contribution came from existing funders and angel investors.
At the same time, the company said it was awarded a $2.6 million grant that will pay for pre-clinical device validation. MicroTransponder used the funds to hire clinical and support staff to test the SAINT System.
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