Tuesday, April 23, 2013

Cervel Neurotech Gets $14.1M For Brain Stimulation Devices

San Mateo-based Cervel Neurotech, a developer of medical devices which use magnetic coils to treat psychiatric and neurologic illnesses, said today that it has raised $14.1M in a new funding round. The funding came from D. E. Shaw Ventures and Aberdare Ventures, along with two other, un-named investors. Both D.E. Shaw and Aberdare are prior backers of the firm. Cervel also said it has gained a credit facility form East West Bank as part of the financing. More information »