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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
Amount Raised
$7 Million
Round Type
Funding Round
MinneapolisDescription
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.
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Second Wave Systems raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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