Sam Brusco, Associate Editor06.20.22
MicroTransponder closed oversubscribed $53 Series E funding, which will be used to commercialize its Vivistim Paired VNS system and establish it as the recommended rehab for stroke survivors aiming to improve hand and arm mobility.
The company also appointed medtech exec Richard Foust as its new CEO and director.
"Our investors are energized by MicroTransponder's vision to enable treatment for the millions of stroke survivors that have ongoing moderate to severe upper limb impairment. Our goal has always been to establish Vivistim Paired VNS as the gold-standard stroke rehabilitation intervention. Today is the day this therapy can help more stroke survivors get back to the daily activities, hobbies and experiences they love," Foust told the press.
With over 25 years of medical device leadership, Foust held executive roles in R&D, marketing, sales, and general management at Velano Vascular, Analyte Health, Abbott Vascular, Guidant Corporation, and Perclose.
As part of the investment, Casey Tansey of USVP and Bill Harrington of Osage University Partners will join the board of directors.
"I'm enthusiastic about the MicroTransponder team and the success they have had in building the clinical foundation for Vivistim," said Tansey. "The quality of the clinical evidence can lead the therapy to become the standard of care and significantly improve outcomes for stroke survivors."
Vivistim is MicroTransponder's first FDA-approved use of its novel neuroplasticity-based platform.
The company also appointed medtech exec Richard Foust as its new CEO and director.
"Our investors are energized by MicroTransponder's vision to enable treatment for the millions of stroke survivors that have ongoing moderate to severe upper limb impairment. Our goal has always been to establish Vivistim Paired VNS as the gold-standard stroke rehabilitation intervention. Today is the day this therapy can help more stroke survivors get back to the daily activities, hobbies and experiences they love," Foust told the press.
With over 25 years of medical device leadership, Foust held executive roles in R&D, marketing, sales, and general management at Velano Vascular, Analyte Health, Abbott Vascular, Guidant Corporation, and Perclose.
As part of the investment, Casey Tansey of USVP and Bill Harrington of Osage University Partners will join the board of directors.
"I'm enthusiastic about the MicroTransponder team and the success they have had in building the clinical foundation for Vivistim," said Tansey. "The quality of the clinical evidence can lead the therapy to become the standard of care and significantly improve outcomes for stroke survivors."
Vivistim is MicroTransponder's first FDA-approved use of its novel neuroplasticity-based platform.