Presidio Medical Closes $72M Series C Funding Round

By Stephen Nakrosis

Presidio Medical said it recently closed a $72 million Series C funding round.
Deerfield Management and existing investors Invus Opportunities and Action Potential Venture Capital participated in the round, as did ShangBay Capital, Presidio said.

David Neustaedter of Deerfield Management Company has joined Presidio’s board of directors, the medical device company said.
Proceeds from the round will be used to expand Presidio’s team, to scale manufacturing and to conduct clinical studies of the company’s Ultra Low Frequency neuromodulation platform, the company said.
Presidio is developing a “neuromodulation platform to treat diseases of undesired neural activity with a first indication in the treatment of chronic pain,” it said.
Write to Stephen Nakrosis at [email protected]