SetPoint Medical, a company focused on developing treatments for chronic autoimmune diseases, announced it has raised $140 million in private funding to support the commercialization of its SetPoint System. This neuroimmune modulation therapy is designed for adults with moderate-to-severe rheumatoid arthritis. The funding includes $25 million from the second part of its Series C round and $115 million from its Series D round, led by Elevage Medical Technologies and Ally Bridge Group. The capital will also help advance other therapies in SetPoint’s autoimmune disease pipeline.
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As part of the Series D financing, Dr. Josh Makower joined the company’s board of directors representing Elevage Medical Technologies. Kevin Reilly, Managing Director and Head of MedTech investments at Ally Bridge Group, also joined the board. New investors such as Northwell Health, SPRIG Equity, and an undisclosed strategic investor participated alongside returning investors including Norwest, New Enterprise Associates, Viking Global Investors, Abbott, and Boston Scientific. This strong backing reflects confidence in SetPoint’s growth and future potential.
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To prepare for the upcoming market launch, SetPoint appointed two new executives to its leadership team. Erik Styacich, formerly Vice President of Sales at Valencia Technologies, was named Vice President of Sales. Spencer Bailey, who has held senior roles at several neuromodulation companies including MicroTransponder, Inc., joined as Vice President of Market Access and Reimbursement. These hires aim to boost the company’s readiness and market expansion.
Murthy V. Simhambhatla, Ph.D., CEO of SetPoint Medical, said, “We are pleased to share these strategic milestones that support our commitment to a successful and smooth market launch for the SetPoint System in selected U.S. markets this year, with wider national expansion planned for 2026. We are excited to welcome an outstanding group of new investors to our impressive syndicate.”
SetPoint is positioned to transform rheumatoid arthritis treatment and expand options for patients with autoimmune diseases through its innovative technology and growing leadership team.
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