It is Saluda’s first device, designed for the treatment of chronic intractable pain of the trunk and limbs.
Existing shareholder Medtronic agreed a four-year loan deal with Saluda for the development of the device on June 27.
“This equity financing in combination with our recent debt transaction strategically positions us to fund the final developmental stages of the Evoke SCS System through global commercialization,” said John Parker, CEO of Saluda Medical. “We believe [Evoke] has immense potential for radically improving the way pain is treated.”
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