Neuromodulator Intelect Medical raises $7M for brain disorders
Intelect Medical, a Cleveland developer of neuromodulation devices for the treatment of brain injury, raised $7 million in a second funding round. The company is currently exploring ways of using deep-brain stimulation, in which implanted electrodes zap particular regions of the brain with calibrated jolts of electricity, in order to rehabilitate brains damaged by injury or stroke. DBS — which is sometimes described as a “pacemaker for the brain” — is currently approved for the treatment of Parkinson’s disease and various forms of tremor.
Medical-device companies Boston Scientific and Greatbatch funded the round. In 2005, Intelect raised $3 million in a first round from Biomec, a device maker that was later acquired by Greatbatch.
Next Story: EBay pulls all its advertising from Google’s network
Previous Story: Best of the blogosphere’s health-policy wonkery
About the Author, David P. Hamilton
David Hamilton has been writing for VentureBeat LifeScience since April 2007. He formerly spent 14 years as a reporter for the Wall Street Journal in its San Francisco and Tokyo bureaus. Prior to that, he spent several years as a reporter at Science Magazine and as a reporter/researcher for the New Republic, both in Washington.