Nico raises $13m Series B for neurosurgery devices

Nico Corp. said today that it raised nearly $13 million in a Series B round from a group of existing backers for its line of neurosurgery devices. Indianapolis-based Nico said the $12.5 million round is earmarked for new product development and commercialization, clinical and economic studies, growing its sales and clinical teams, and expanding its footprint in Europe. “Our shareholders have again confirmed their commitment and confidence in the value and outcomes of Nico technologies and our ability to both grow and create new markets in neurosurgery,” president & CEO Jim Pearson said in prepared remarks. “In a traditionally slow-to-change environment combined with this era of stringent healthcare regulations and protocols, market growth in neurosurgery is challenging and only happens through documented outcomes demonstrating improved clinical outcomes and economic value. “This infusion of capital positions us well to further support and validate clinical outcomes through peer-reviewed publications. It also enables us to continue working toward meeting the growing demand around the world for our technologies used in minimally invasive parafascicular surgery (MIPS),” Pearson said. In April 2017 the company won CE Mark approval in the European Union for its BrainPath device, which uses a shunt and specially designed instrumentation to provide surgical access to the subcortical brain for removing tumors and treating hemorrhagic stroke. The c...
Source: Mass Device - Category: Medical Devices Authors: Tags: Featured Funding Roundup Neurological Surgical Wall Street Beat Nico Corp. Source Type: news