Tuesday, August 24, 2010

NeuroVista Gains $21.4M

Seattle-based NeuroVista, a developer of medical technology for managing and treating epilepsy, has raised $21.4M in a combination of equity and debt. According to the firm, it has raised $16.5M in equity, in a round led by GBS Venture Partners and including exiting investors Advanced Technology Ventures, Delphi Ventures and Foundation Medical Partners. The firm said the equity funding will go towards supporting ongoing clinical trials of its product. In addition to the equity, the firm said it raised $5M in a convertible debt agreement with Cyberonics, which is tied to a licensing agreement with Cyberonics, relating to recharging systems for implantable devices. More information »