SetPoint Medical, a company dedicated to developing therapies for people living with chronic autoimmune diseases, announced that it has raised $140 million in private financing, that includes $25 million in the second tranche of its Series C financing, as well as $115 million in its Series D financing, co-led by Elevage Medical Technologies and Ally Bridge Group. Proceeds of the financing will support commercialization of the SetPoint System, a first-of-its-kind neuroimmune modulation therapy for adults living with moderate-to-severe rheumatoid arthritis (RA), as well as advancement of the company’s pipeline in other autoimmune conditions.
In conjunction with the Series D financing, Josh Makower, M.D., joined SetPoint Medical’s board of directors as a representative of Elevage Medical Technologies, along with Kevin Reilly, Managing Director and Head of MedTech investments at Ally Bridge Group.
New investors Northwell Health, SPRIG Equity and an undisclosed strategic investor also participated in the Series D financing, along with returning investors Norwest, New Enterprise Associates (NEA), Viking Global Investors, Action Potential Venture Capital, Abbott, Boston Scientific, Euclidean Capital, Richard King Mellon Foundation, Morgenthaler Ventures, ShangBay Capital, Ascendum Capital, Catalio Capital Management, Gilmartin Capital and Midas Capital.
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In preparation for commercialization, SetPoint has announced two new executive appointments. Erik Styacich, former Vice President of Sales for neuromodulation company, Valencia Technologies, joins as Vice President of Sales, and Spencer Bailey joins as Vice President of Market Access & Reimbursement, after holding several similar leadership roles at other neuromodulation companies, including MicroTransponder, Inc.
“We are pleased to share these strategic milestones underpinning our commitment to a successful and seamless market launch for the SetPoint System in select U.S. markets this year, with broader national expansion in 2026,” added Murthy V. Simhambhatla, Ph.D., CEO of SetPoint Medical. “We are thrilled to welcome an outstanding group of new investors to our exceptional syndicate.”
Source: Businesswire