Boston Scientific Backs Cleveland Clinic Spin Off
by Sara Calabro
Med Tech Sentinel
Intelect Medical, an early stage Cleveland, OH, company that’s developing neuromodulation technologies for treating brain injuries, has completed a Series B financing for $7 million. The money came from Boston Scientific (BSX) and Greatbatch (GB).
Founded in 2005 by Cleveland Clinic, Intelect Medical is focusing initially on neuromodulation for recovery from traumatic brain injury and stroke. Armed with an IDE for neuromodulation of patients in a minimally conscious state, the firm has begun clinically testing its technology; it also is conducting animal studies on deep brain stimulation therapies for post-stroke motor function rehabilitation.
Intelect’s technology was developed by the director of Cleveland Clinic’s Center for Neurological Restoration, Dr. Ali Rezai. It’s one of 18 companies spun off from Cleveland Clinic in the past five years.
The firm’s Series A financing, for $3 million, took place in September 2005 and came from another area device company, Biomec.
Source: Med Tech Sentinel
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BioHealth Investor.com
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Med Tech Sentinel
Intelect Medical, an early stage Cleveland, OH, company that’s developing neuromodulation technologies for treating brain injuries, has completed a Series B financing for $7 million. The money came from Boston Scientific (BSX) and Greatbatch (GB).
Founded in 2005 by Cleveland Clinic, Intelect Medical is focusing initially on neuromodulation for recovery from traumatic brain injury and stroke. Armed with an IDE for neuromodulation of patients in a minimally conscious state, the firm has begun clinically testing its technology; it also is conducting animal studies on deep brain stimulation therapies for post-stroke motor function rehabilitation.
Intelect’s technology was developed by the director of Cleveland Clinic’s Center for Neurological Restoration, Dr. Ali Rezai. It’s one of 18 companies spun off from Cleveland Clinic in the past five years.
The firm’s Series A financing, for $3 million, took place in September 2005 and came from another area device company, Biomec.
Source: Med Tech Sentinel
RELATED READING:
- Singulex Raises $19.1 Million
- Tepha Closes $10.7 Million in Venture Funding
- Endocare Raises $7 Million
BioHealth Investor.com
______________________
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10:17 PM
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