Spinal Modulation raises $27M to treat spinal pain

Spinal Modulation, a company that makes treatments for chronic spinal pain, has brought in $27.4 million in a third round of capital to finance trials of its lead medical device. Based in Menlo Park, Calif., the company is backed by Johnson & Johnson Development Corp., InCube Ventures, Raffle Venture Partners, DeNovo Ventures, DFJ ePlanet Ventures, Kleiner Perkins Caufield & Byers and MedVenture Associates.