Funding

Neuronetics Raises $34M in Series F

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What does Neuronetics do?

Neuronetics, is a medical device company which focuses on developing non-invasive therapies for neurological and psychiatric disorders using magnetic field pulses of MRI strength. Neuronetics is the first and the only company which has a non-invasive and non-systemic depression treatment cleared by the FDA for those who were not benefited from anti-depressant treatments which were received earlier. They are leader in the development of Transcranial Magnetic Stimulation, a non-invasive form of neuromodulation.

How much Neuronetics was funded?

Neuronetics, raised $ 34.3 M in Series F funding on April 27th, 2015 from the investors GE Ventures.

Previous funding

  • Undisclosed amount in Seed funding on August 22nd,2001 from the investors Accuitive Medical Ventures and Partisan Management Group.
  • $30M in Series D funding on October 27, 2009 from Quaker BioVentures, ONSET Ventures, Three Arch Partners, New Leaf Venture Partners, InterWest Partners and Investor Growth Capital.
  • $30M in Series E funding on May 16, 2011 from Three Arch Partners, ONSET Ventures, Polaris Partners, InterWest Partners, Pfizer Venture Investments and Quaker BioVentures.

What is next for Neuronetics?

Neuronetics  will use the latest funding raised to widen its treatment accessibility for the current patient population who require a non-drug therapy option. The funding will increase the expansion of Neuronetics commercial resources to expand its insurance coverage for patients. The funds will also be used to investigate the use of NeuroStar TMS Therapy A for treating MDD among adolescents between ages of 12-21 years. Neuronetics is commited to expanding the treatment with TMS to 4 M treatment resistant adults who are suffering from depression, who can benefit from the existing antidepressant treatment plan. The funding will also be used to fulfill a significant unmet medical necessity among the 2 M adolescent who suffer from this condition.
More about Neuronetics

Neuronetics was founded in January 1st, 2003 by Charles E. Larsen and Norman Weldon. It has its headquarters in Malvern, PA.

 

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