SetPoint Medical, a Southern California commercial-stage medtech company, pulled in $140 million in new financing. The raise consists of a $25 million addition to its Series C as well as $115 million in a Series D round led by Elevage Medical Technologies and Ally Bridge Group.
The company announced two new executive appointments alongside its capital raise. Erik Styacich joins as VP of sales, having formerly held the same role at neuromodulation company Valencia Technologies. Spencer Bailey will serve as VP of market access and reimbursement. He previously held similar roles at companies including MicroTransponder, Inc.
SetPoint Medical will invest its new capital in fueling the commercialization of its solution. The company is developing a neuroimmune modulation therapy for adults living with rheumatoid arthritis. Additionally, the funding will help advance the company’s pipeline in other autoimmune conditions.
