US-based neuromodulation therapy developer Cadence Neuroscience has collected $15m in a series A round involving Mayo Clinic Ventures, the corporate venturing vehicle for medical research company Mayo Clinic.
The round was led by venture capital firm Jazz Venture Partners and also featured Mayo’s Benefactor Innovation Fund and nonprofit organisation Epilepsy Foundation of America.
Cadence Neuroscience is working on a neuromodulation-based treatment for patients living with focal epilepsy whose seizures do not respond to existing drug treatments.
The approach, intended for both adult and paediatric epilepsy patients, directly applies a balanced electrical charge to the brain’s seizure onset zone, modulating neurological biomarkers of epilepsy that have been identified through the use of an electroencephalogram (commonly known as an EEG).
The series A cash will go toward advancing Cadence’s neuromodulation technology with a view to conducting clinical studies and attaining clearance from US healthcare regulator Food and Drug Administration. John Harris and Andrew Firlik, managing partners at Jazz Venture Partners, have joined the board of directors.
Cadence Neuroscience grew from research conducted at Mayo Clinic’s Rochester campus by neurology and neurosurgery experts Gregory Worrell, Mathew Stead, Brian Lundstrom, Ben Brinkmann and Jamie Van Gompel.