New Enterprise Associates Join $50 Million Series G for Relievant Medsystems

Relievant Medsystems, a Minneapolis, MN-based company dedicated to the diagnosis and treatment of vertebrogenic pain, raised $50M in Series G funding.

The round was led by Ally Bridge Group with participation from existing investors Endeavour Vision, Vensana Capital, Lightstone Ventures, New Enterprise Associates, Canaan Partners and Morgenthaler Ventures.

The company intends to use the funds to expand operations and R&D efforts.

Led by Tyler Binney, President and CEO, Relievant Medsystems is a commercial-stage medical device company that works on the diagnosis and treatment of vertebrogenic pain, a form of CLBP, with the Intracept Procedure, a clinically proven and commercially available treatment designed to improve the quality of life of indicated patients.

The Intracept Procedure is an FDA-cleared treatment for chronic vertebrogenic low back pain, which uses targeted radiofrequency energy to stop the basivertebral nerve (BVN) from transmitting pain signals to the brain. The procedure is typically performed in an outpatient surgery center and takes approximately one hour.