SecondWave Systems, Inc., a clinical stage medical device company developing a novel ultrasound-based treatment for inflammatory disorders, announced that it has closed a $7M Series A financing round. The financing was led by Treo Ventures and a major healthcare strategic, with participation from Scientific Health Development and the University of Minnesota's Discovery Capital and SSBCI funds. Proceeds from the financing will support SecondWave's next clinical study, leveraging the success of their first-in-human study that demonstrated a significant reduction in rheumatoid arthritis disease activity.

The new financing builds on prior funding from U.S. government partners, including the Defense Advanced Research Projects Agency (DARPA) and the Advanced Research Projects Agency for Health (ARPA-H), which supported prior research and the development of the SecondWave MINI™, a first-of-its-kind, noninvasive, wearable therapeutic ultrasound device intended for treatment of inflammatory diseases.

"As we work to develop and commercialize the SecondWave MINI as a new class of noninvasive therapy, we are very excited to enter the next phase of development with a strong set of new investor partners," said SecondWave CEO Anuj Bhardwaj. "Our team at SecondWave is dedicated to improving patient quality of life for millions of Americans who suffer from chronic inflammatory disorders."

"We are enthusiastic to partner with SecondWave's experienced team to advance a novel and highly differentiated therapy that will positively impact the lives of countless patients while reducing the cost of care," said Mudit K. Jain, PhD, General Partner, Treo Ventures.

SecondWave advisory board member Paul Peter Tak, MD, PhD, a biotech leader and physician-scientist who was pivotal in elucidating the role of bioelectronic medicine as a therapeutic approach for autoimmune diseases, further stated, "as one of the early innovators demonstrating how implanted vagus nerve stimulation can treat rheumatoid arthritis, I am excited by the potential for widespread adoption of SecondWave's novel approach of using noninvasive ultrasound therapy to treat immune-mediated inflammatory conditions."