SetPoint Medical announces $80 million preferred stock placement

Chicago, Jan. 19 – SetPoint Medical announced the placement of $80 million of preferred stock, according to a press release.

The financing was co-led by investors Norwest Venture Partners and Viking Global Investors.

Gilmartin Capital also participated, along with returning investors New Enterprise Associates (NEA), Action Potential Venture Capital, Boston Scientific, Topspin Fund, Euclidean Capital, Morgenthaler Ventures, Richard King Mellon Foundation, ShangBay Capital, Ascendum Capital, Catalio Capital Management, Midas Capital, Citta Capital, SVE Capital, and an undisclosed strategic investor.

Proceeds will be used to complete the ongoing Reset-RA study for a drug that will target rheumatoid arthritis for patients with an intolerance to biologic drugs.

SetPoint, a Valencia, Calif.-based health care company, focuses on treating patients with chronic autoimmune diseases.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.