SetPoint Medical Raises $140 Million in Private Financing and Expands Leadership Team to Support Commercialization of Rheumatoid Arthritis Therapy

VALENCIA, Calif.–(BUSINESS WIRE)–SetPoint Medical, a company dedicated to developing therapies for people living with chronic autoimmune diseases, announced that it has raised $140 million in private financing, that includes $25 million in the second tranche of its Series C financing, as well as $115 million in its Series D financing, co-led by Elevage Medical Technologies and Ally Bridge Group. Proceeds of the financing will support commercialization of the SetPoint System, a first-of-its-kind neuroimmune modulation therapy for adults living with moderate-to-severe rheumatoid arthritis (RA), as well as advancement of the company’s pipeline in other autoimmune conditions.

In conjunction with the Series D financing, Josh Makower, M.D., joined SetPoint Medical’s board of directors as a representative of Elevage Medical Technologies, along with Kevin Reilly, Managing Director and Head of MedTech investments at Ally Bridge Group.

New investors Northwell Health, SPRIG Equity and an undisclosed strategic investor also participated in the Series D financing, along with returning investors Norwest, New Enterprise Associates (NEA), Viking Global Investors, Action Potential Venture Capital, Abbott, Boston Scientific, Euclidean Capital, Richard King Mellon Foundation, Morgenthaler Ventures, ShangBay Capital, Ascendum Capital, Catalio Capital Management, Gilmartin Capital and Midas Capital.

In preparation for commercialization, SetPoint has announced two new executive appointments. Erik Styacich, former Vice President of Sales for neuromodulation company, Valencia Technologies, joins as Vice President of Sales, and Spencer Bailey joins as Vice President of Market Access & Reimbursement, after holding several similar leadership roles at other neuromodulation companies, including MicroTransponder, Inc.

“We are pleased to share these strategic milestones underpinning our commitment to a successful and seamless market launch for the SetPoint System in select U.S. markets this year, with broader national expansion in 2026,” added Murthy V. Simhambhatla, Ph.D., CEO of SetPoint Medical. “We are thrilled to welcome an outstanding group of new investors to our exceptional syndicate.”

About Elevage Medical Technologies

Elevage Medical Technologies is a platform established by Patient Square Capital and is dedicated to supporting medical technology companies that can meaningfully improve health outcomes and quality of life for patients. Elevage provides capital along with deep technical, regulatory, and operational expertise to companies ranging from advanced clinical development to commercial acceleration stage. Elevage supports rapidly growing, highly differentiated companies with paradigm shifting technologies and strives to help build industry leading medical technologies. To learn more about Elevage, please visit www.elevagemedical.com.

About Ally Bridge Group

Ally Bridge Group is a global healthcare investment firm focused on private and public high-impact life science innovation. Founded in 2013, the firm has led or co-led over $6 billion in healthcare transactions. The firm’s mission is to generate superior risk-adjusted returns for investors guided by the core principle of selective investment in healthcare innovation that addresses unmet medical needs. For more information, visit www.ally-bridge.com or follow us on LinkedIn.

About SetPoint Medical

SetPoint Medical is a commercial-stage medical technology company dedicated to improving care for people living with chronic autoimmune diseases. The company’s FDA-approved SetPoint System is the first neuroimmune modulation therapy available for people living with rheumatoid arthritis (RA), offering a novel, device-based alternative for those who do not respond to or cannot tolerate biologic or targeted drug therapies. SetPoint’s proprietary integrated neurostimulation platform is designed to activate innate anti-inflammatory pathways in the vagus nerve to reduce inflammation and restore immunologic setpoint. With a vision to redefine the care of autoimmune conditions, SetPoint is also planning to evaluate its platform technology for other conditions including multiple sclerosis and Crohn’s disease. Learn more at setpointmedical.com.

Contacts

Emma Yang

Health+Commerce

media@setpointmedical.com