Closed-loop spinal stimulation maker Saluda Medical raises about US$150 million in ASX IPO
The Sydney company's Evoke system adjusts every stimulation pulse based on the spinal cord's measured response.
Saluda Medical began trading on the Australian Securities Exchange (ticker SLD) after raising A$230.8 million (about US$150 million) from investors including Wellington Management, Fidelity, T. Rowe Price and TPG. Its Evoke system is a closed-loop spinal cord stimulator for chronic pain: it measures the spinal cord’s response and adjusts each pulse in real time. Saluda says 83% of patients had at least 50% pain reduction at 36 months.
The money will fund US sales expansion and product development. Epilepsy-monitoring company Epiminder also listed on the ASX the same month, a sign of growing public-market interest in neurotech.
Learn more: Spinal cord stimulation · Saluda Medical