Cervel Neurotech Secures $14,100,000 New Financing

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b7ceb1f8-725f-443b-99fc-2b1dab13b862&Preview=1
Date
4/23/2013
Company Name
Cervel Neurotech
Mailing Address
1164 Triton Drive Foster City, CA 94404
Company Description
Cervel Neurotech, Inc. is a privately held medical device company that is pioneering an innovative, proprietary approach to non-invasive deep brain neuro-modulation. Cervel’s technology is a form of repetitive transcranial magnetic stimulation (rTMS) which uses magnetic fields to induce electrical currents within the brain to modulate the function of specific areas.
Website
http://www.cervel.com
Transaction Type
Debt, Venture Equity
Transaction Amount
$14,100,000
Transaction Round
Undisclosed
Proceeds Purposes
This funding will allow us to undertake the larger scale clinical activities required to further validate our novel approach to delivering transcranial magnetic therapy.
M&A Terms
Venture Investor
D. E. Shaw Group
Venture Investor
Aberdare Ventures
Venture Investor
East West Bank
Venture Investor
Undisclosed