MicroTransponder collects $53m Series E

• Other backers included GPG Ventures, Exceller Hunt Ventures, Osage University Partners, Action Potential Venture Capital and The Vertical Group.
• The capital infusion will be used to commercialize the Vivistim Paired VNS™ System.
• As part of the investment, Casey Tansey of USVP and Bill Harrington of Osage University Partners will join the board of directors.

Medical device firm MicroTransponder has raised $53 million in Series E funding. USVP was the lead backer.

In addition to the funding, MicroTransponder announced seasoned medical device executive Richard Foust as CEO and Director. Foust has held executive roles at Velano Vascular, Analyte Health, Abbott Vascular, Guidant Corporation, and Perclose.

Vivistim is MicroTransponder’s first FDA-approved use of its novel neuroplasticity-based medical device platform. Vivistim is designed to enhance daily living for people suffering from neurological conditions that impair sensory and motor function.