MicroTransponder Closes $2.2 Million Funding Round to Develop a Wireless Neurostimulation System for Chronic Pain

DALLAS--(BUSINESS WIRE)--March 31, 2009--MicroTransponder Inc., a privately held medical device company, announced today that it has closed a $2.2M Series A round of funding, which brings the total investment to over $4.85M in the last 11 months. MicroTransponder is developing a wireless neurostimulation system for the treatment of chronic pain and several other neurological indications. The minimally invasive system will provide relief from chronic pain without requiring an implanted battery or wires. Patients experiencing chronic pain will have an effective treatment using a significantly smaller and less invasive device. Over 30 Million Americans report severe chronic pain symptoms and the market for neurostimulation is currently $1.4 Billion annually. In addition to private funding, MicroTransponder has received an award from the Texas Emerging Technology Fund and three separate NIH SBIR grants, providing independent scientific validation of the technology.

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