Skip to content
Business

Neuronetics raises $30M for depression therapy

Neuronetics Inc., a privately held medical device company in Malvern, has raised $30 million in a Series E investment round for its NeuroStar TMS Therapy System.

    Published 

Neuronetics Inc., a privately held medical device company in Malvern, has raised $30 million in a Series E investment round for its NeuroStar TMS Therapy System.

The noninvasive treatment for major depression using MRI-strength magnetic field pulses was cleared by the Federal Drug Administration in 2008.

Leading the latest fund-raising were life-science investors Polaris Venture Partners and Pfizer Venture Investments Inc. Polaris Venture principal Kevin Bitterman will join Neuronetics' board of directors; Pfizer Venture executive director Elaine Jones will serve as observer to the board.    - Diane Mastrull