SetPoint Medical has raised $140m in financing to advance the commercialisation of its neuroimmune modulation therapy (SetPoint System) for rheumatoid arthritis (RA).
The funding includes $25m from the second tranche of Series C and $115m from the Series D round, co-led by Elevage Medical Technologies and Ally Bridge Group.
New investors include Northwell Health, SPRIG Equity, and an undisclosed investor, alongside existing investors such as Norwest and New Enterprise Associates.
The medical technology company will also use the funding to support the development of treatments for other autoimmune diseases.
As part of the Series D financing, Josh Makower from Elevage Medical Technologies and Kevin Reilly from Ally Bridge Group have joined SetPoint’s board.
SetPoint has appointed Erik Styacich as vice president of sales and Spencer Bailey as vice president of Market Access and Reimbursement, to boost commercialisation.
Both bring extensive experience from previous roles in neuromodulation companies.
SetPoint Medical CEO Murthy Simhambhatla said: “We are pleased to share these strategic milestones underpinning our commitment to a successful and seamless market launch for the SetPoint System in select US markets this year, with broader national expansion in 2026.
“We are thrilled to welcome an outstanding group of new investors to our exceptional syndicate.”
The SetPoint System offers a novel approach to treating rheumatoid arthritis by providing an effective treatment option that mitigates immune-compromising risks.
The implantable neurostimulation device delivers electrical stimulation to the vagus nerve, activating the body’s anti-inflammatory and immune-restorative pathways.
Its efficacy and safety were validated in the RESET-RA study, involving 242 patients with moderately to severely active rheumatoid arthritis.
The study confirmed its safety, with a low rate of serious adverse events and no malignancies, major cardiac events, or serious infections linked to the therapy.
The SetPoint System also received Breakthrough Device Designation from the FDA, recognising its potential for more effective treatment of debilitating diseases.
