SetPoint Medical Raises $27.0M

Valencia-based SetPoint Medical, a developer of biomedical products for treating inflammatory disease, announced today that it has raised $27M in a financing round. The new funding came from Covidien Ventures, Action Potential Venture Capital Limited, and Boston Scientific. Action Potential is the strategic venture capital fund of GlaxoSmithKline. According to SetPoint, the new funding will go towards clinical development of its biomedical products, which are aimed at treating rheumatoid arthritis and Crohn's disease. SetPoint Medical is led by Anthony Arnold. More information »