The neuroimmune modulation therapy system is designed for individuals with moderate-to-severe rheumatoid arthritis. Credit: Chinnapong / Shutterstock.com.

SetPoint Medical has secured $140m through private financing, earmarked for the commercial rollout of the SetPoint System, a neuroimmune modulation therapy designed for patients with moderate-to-severe rheumatoid arthritis (RA).

The financing is divided between $25m from the second tranche of its Series C financing and an additional $115m from its Series D round, jointly led by Elevage Medical Technologies and Ally Bridge Group.

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The funds will also aid in the progression of SetPoint Medical’s pipeline, targeting other autoimmune conditions.

The SetPoint System serves as a device-based treatment option for those who are unresponsive or intolerant to biologic or targeted drug therapies.

In line with the Series D financing, the company welcomed two new members to its board of directors, Josh Makower from Elevage, and Kevin Reilly, who is the managing director and MedTech investments head at Ally Bridge Group.

The round saw participation from a mix of new investors, including SPRIG Equity, Northwell Health, and an unnamed strategic investor.

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SetPoint announced the appointment of two new executives to prepare for the commercialisation phase.

Erik Styacich, previously with Valencia Technologies, has been named sales vice-president, and Spencer Bailey, with a background in neuromodulation companies such as MicroTransponder, steps in as market access and reimbursement vice-president.

SetPoint noted that its integrated neurostimulation platform aims to trigger the body’s natural anti-inflammatory pathways in the vagus nerve to alleviate inflammation and recalibrate the immune system.

Beyond RA, SetPoint intends to explore the potential of its platform technology in treating other autoimmune diseases such as Crohn’s disease and multiple sclerosis.

Recently, the US Food and Drug Administration (FDA) approved the SetPoint System to treat moderate-to-severe RA in adults.

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