Secondwave Systems Secures Over $7 Million From Department Of Defense To Accelerate Development And Clinical Study Of Novel Anti-Inflammatory Therapy Based On Low-Intensity Focused Ultrasound Technology
Secondwave Systems Secures Over $7 Million From Department Of Defense To Accelerate Development And Clinical Study Of Novel Anti-Inflammatory Therapy Based On Low-Intensity Focused Ultrasound Technology
04/20/21, 2:13 PM
Location
minneapolisMoney raised
$7 million
SecondWave Systems, Inc., a pioneer in the emerging field of bio-ultrasonic medicine, has secured $4 million of additional funding from the Department of Defense (DOD), bringing the total non-dilutive investment to $7.4 million. Seed investment from the Defense Advanced Research Projects Agency (DARPA) supported the initial development of the SecondWave MINITM, a first-of-its-kind, wearable therapeutic ultrasound stimulation platform, intended for noninvasive treatment of chronic and acute inflammatory disorders. Follow-on funding from both DARPA and the Defense Health Program (DHP) in conjunction with the DOD’s Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense (JPEO-CBRND), has enabled SecondWave to accelerate development of the investigational MINITM system, readying the platform for first-in-human clinical trials to address hyperinflammation in severe cases of COVID-19 and initial production for distribution under U.S. Food and Drug Administration (FDA) Emergency Use Authorization (EUA), application expected in late 2021.
Company Info
Location
minneapolis, minnesota, united states
Additional Info
SecondWave Systems is a pioneer in the emerging field of bio-ultrasonic medicine. The company is developing a first-of-its-kind noninvasive, wearable ultrasound stimulation platform that will give patients and their physicians a new option for treating debilitating or life-threatening disease. The company’s SecondWave MINI™ device uses proprietary low-intensity focused ultrasound technology to stimulate the spleen with the goal of treating acute and chronic inflammation disorders. This technology is currently being investigated in clinical studies to reduce acute inflammation in COVID-19, and additional studies are being planned to investigate use in chronic inflammatory diseases such as Rheumatoid Arthritis. For more information, visit www.secondwaveUS.com.