Startup Avivomed closes on $32 million for neuromodulation technology platforms

The company will pursue the development and commercialization of innovative neuromodulation technology platforms to treat large patient populations suffering from chronic diseases

Avivomed, Inc., a privately held, development stage, medical device company, announced the completion of a Series A Preferred Stock financing of $32 million. A world-class syndicate of experienced medical device investors participated in the financing. The proceeds of the Series A financing will provide the resources to enable the company to pursue the development and commercialization of innovative neuromodulation technology platforms to treat large patient populations suffering from chronic diseases.

Concurrent with the financing, the company also announced the hiring of Steve Masson as the President and Chief Executive Officer. Steve is an experienced senior executive with 40 years in the medical device business, including over 30 years in active implantable devices. Steve has previously held management roles for over 25 years, and has served in general management, research and development, and operational positions in both venture capital-backed startups and larger, revenue-driven companies, such as Cordis, Ventritex, InnerPulse, and NeuroTronik.

"We look forward to partnering with our seasoned investor group, feel fortunate to have them on our team, and to benefit from their broad base of expertise," said Steve Masson, Avivomed President and CEO.

Avivomed is based in the United States and Ireland.