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news.BrainsGate, a developer of a therapeutic platform based on electrical neurostimulation of the sphenopalatine ganglion, has announced the completion of a $27.5 million Series C financing round in which both new and existing investors participated.
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Johnson & Johnson Development Corporation led the round, joined by Agate Medical Investments, headed by Israel’s former minister of health Danny Naveh. Prominent existing investors who also participated in the current round included Elron Electronic industries, Pitango Venture Capital, MB Venture Capital and Alice Lab.
Avinoam Dayan, CEO of BrainsGate, said: “This investment, paired with the substantial experience of our new and existing investors, will serve as key driving factors in enabling the company to move ahead in conducting the pivotal clinical study. This study represents a key stage in the company’s progress in gaining market approval for its innovative acute ischemic stroke treatment. I would like to welcome our new investors, while thanking our existing shareholders for their ongoing support of the company.”