Industry Bulletins | July 6, 2018
Neuronetics Goes Public With $93.5 Million IPO Following Several VC Rounds
Pennsylvania-based Medical technology company Neuronetics recently went public, following a $93.5 million IPO. The company manufactures a device that magnetically stimulates the brain to treat major depressive disorder.
The proceeds will be used to commercialize and fund research into the company’s main device, NeuroStar. Neuronetics reports that its device systems are installed in approximately 615 psychiatrist offices, serving about 50,000 consumers. Previously, the company has been backed by firms such as General Electric (GE), Pfizer, and others.
Neuronetics, Inc., a commercial stage medical technology company, designs, develops, and markets products for consumers with psychiatric disorders. It . . .