Intelect Medical Raises $7 Million

Intelect Medical Inc., a Cleveland-based developer of implantable neuromodulation systems for brain injury recovery, has raised $7 million in Series B funding from Boston Scientific Corp. and Greatbatch Inc. It was founded two years ago as a Cleveland Clinic spinout, and raised $3 million in Series A funding from BIomec Inc. www.intelectmedical.com