Saluda Medical has secured a four-year term loan agreement with Medtronic to fund continued development of its Evoke®ECAP-Controlled, Closed-Loop Spinal Cord Stimulation (SCS) System for the treatment of chronic intractable pain of the trunk and limbs.

Medtronic is one of the world’s leading medical device manufacturers and founding innovators in spinal cord stimulation, and is an existing shareholder of Saluda Medical, having participated in two previous financing rounds.

“We are pleased to once again partner with Medtronic in this financing,” said John Parker, CEO of Saluda Medical. “This funding provides us with the financial flexibility to accelerate further development of our novel closed-loop SCS system and prepare for commercialization. Unlike cardiac pacing technology, where measurement and response technology has driven breakthroughs in clinical outcomes and patient management, technology in the field of SCS is still in its infancy.”

Saluda Medical is a global medical device company focused on patient outcomes, science, and engineering to transform the neuromodulation industry with a platform of closed-loop technologies based on the evoked compound action potential.