NeuroPace, the Mountain View, Calif.-based maker of implantable devices for the treatment of neurological disorders, is about to close a big round, with some boldface-name VCs providing backing—as well as one big strategic, too. Looks like VCs are bullish on the company’s treatment for epilepsy, which entered pre-market testing with the FDA late last year.
According to a filing submitted yesterday to the S.E.C., NeuroPace has raised $50 million toward a planned $62 million fundraising.
The filing includes one big name, from a strategic investor’s VC shop: Brad Vale, VP and head of investments for Johnson & Johnson, who, according to the filing, will be a director. While specifics on which VC led the funding round aren’t spelled out in the federal filing, other directors with NeuroPace include Kleiner Perkins Caufield & Byers partner (and, Golden State Warriors owner) Joe Lacob; NEA’s Chuck Newhall; Angel Medical Systems’ David Fischell; Ray Larkin, Cutlass Capital advisor and CEO of neurological disorder treatment provider Eunoe Inc.; James Blair, a GP with Doman Associates; and NeuroPace’s CFO, Benjamin Pless.
This isn’t the first outsized round for NeuroPace. The company reeled in $30 million in 2005, from investors including Domain Associates, InterWest, KPCB, MedVenture, NEA and Technology Partners, according to Thomson Reuters. InterWest, Domain, and KPCB also participated in a $23 million round in 2008.
Last year, NeuroPace submitted paperwork with FDA regulators to gain pre-market approval for a device that treats epilepsy. Already, according to NeuroPace’s site, the company is working with universities coast-to-coast in clinical trials.
The company did not respond to requests for comment; peHUB will update this story if we hear back from them, or any other sources.