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Bioelectronic Therapy Firm Gets $30 Million in Funding

SetPoint Medical has raised $30 million in Series D funding, the company announced this week. The Valencia biomedical technology business develops bioelectronic therapy for chronic inflammatory diseases. The company is working on a clinical-stage implant device that delivers electrical pulses which trigger the body’s biological response against such diseases as rheumatoid arthritis and Crohn’s disease. “We are grateful for the strong support from our investors who are aligned with our vision to commercialize life-changing bioelectronic medicines for patients with debilitating inflammatory diseases,” Anthony Arnold, chief executive of SetPoint, said in a statement. “SetPoint has good momentum and this financing, which underscores the significant progress the company has made, provides the capital to bring bioelectronic technology one step closer to the clinic by enabling the next clinical trial in rheumatoid arthritis.” The company’s latest funding includes participation from its existing investors, including Medtronic and Boston Scientific.

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