Cadence Neuroscience, a Redmond, WA-based clinical-stage company developing a novel neuromodulation therapy for treating pediatric and adult patients, raised $26M in Series B funding.
The round was led by Angelini Lumira Biosciences Fund (co-managed by Lumira Ventures and Angelini Ventures) and included other new investors F-Prime Capital, LivaNova USA, Angelini Ventures, Spectrum Financial Services, and Mayo Clinic, as well as the company’s Series A lead investor JAZZ Venture Partners. Gerry Brunk of Lumira Ventures and Kevin Chu of F-Prime Capital have joined to the board of directors.
The company intends to use the funds to complete pivotal clinical studies and pursue FDA clearance.
Founded in 2017 and led by CEO Kent Leyde, Cadence is a clinical-stage company developing a novel neuromodulation therapy for treating pediatric and adult patients with focal drug resistant epilepsy based on research by a Mayo Clinic Neurology and Neurosurgery team, led by Gregory Worrell M.D., Ph.D., lead investigator and Mayo Clinic epileptologist. The therapy utilizes chronic subthreshold cortical stimulation to modulate EEG biomarkers associated with epilepsy to reduce or eliminate seizures.