MicroTransponder Gets $2.2M

Dallas-based MicroTransponder, which is developing medical devices for dealing with chronic pain, said today that it has raised $2.2M in a Series A funding. According to the firm, the funding is going towards development of its wireless neurostimulation system for treating chronic pain and other neurological indications. Source of the funding was not disclosed, however, the firm said it has also received funding from the Texas Emerging Technology Fund, and three separate NIH SBIR grants. The new funding brings the company's total raised to $4.85M. The firm's technology is based on technology developed at the University of Texas at Dallas. More information »