Action Potential Venture Capital

Action Potential Venture Capital, established in 2013 and based in Cambridge, Massachusetts, is the venture capital arm of GlaxoSmithKline. With a focus on bioelectronic medicines, the fund seeks to invest in companies that are pioneering innovations in this emerging field. It aims to build a portfolio of five to seven companies over the next five years, concentrating on three key areas: new start-ups dedicated to bioelectronic medicine, existing firms that utilize first-generation devices to interact with the peripheral nervous system, and companies developing foundational technology platforms for these treatments. The fund's first investment was in SetPoint Medical, which specializes in implantable devices for treating inflammatory diseases. Imran Eba has been appointed as the first partner, transitioning from GSK’s Worldwide Business Development organization to work closely with the Bioelectronics R&D unit. Through strategic investments, Action Potential Venture Capital aims to advance the development of therapies that can communicate with the body's electrical signals to address various health conditions.

Imran Eba

Partner

Juan-Pablo Mas

Partner

Suraj Mudichintala

Senior Associate

16 past transactions

Saluda Medical

Venture Round in 2023
Saluda Medical Pty Ltd. is a medical device company focused on developing innovative solutions for the neuromodulation industry. The firm is known for its investigational device, Evoke, which features a closed-loop spinal cord stimulation system. This technology measures the spinal cord's response to stimulation and adjusts the stimulation parameters in real-time to optimize therapeutic outcomes for patients. Founded in 2010 and headquartered in Artarmon, Australia, with additional offices in Minnesota and the United Kingdom, Saluda Medical aims to provide effective treatment for chronic neuropathic pain. The company's unique approach involves monitoring each patient's neural fingerprint to automatically tailor electrical stimulation, ensuring that therapy is customized to meet individual needs. Saluda Medical's commitment to advancing medical technology is underpinned by a strong foundation of scientific research and a team of experienced professionals.

MicroTransponder

Series E in 2022
MicroTransponder, Inc. is a medical device company focused on developing and commercializing neurostimulation devices aimed at treating neurological diseases. The company offers innovative therapies, including the Serenity System for tinnitus and the Paired VNS System, which addresses chronic pain and post-stroke upper limb mobility issues. Founded in 2007, MicroTransponder is headquartered in Dallas, Texas, and aims to enhance treatment options for various neurological conditions through its advanced technology.

Alpheus Medical

Series A in 2021
Alpheus Medical provides a novel sonodynamic therapy platform targeting solid body cancers. Alpheus Medical also provides a non-invasive drug-device combination for outpatient treatment of recurrent glioblastoma multiforme (rGBM).

Neuspera

Series C in 2021
Neuspera Medical Inc. specializes in the development and manufacture of ultra-miniaturized implantable devices designed for neuromodulation therapy, often referred to as "electroceuticals." Utilizing licensed mid-field powering technology, these devices leverage the body as a natural waveguide to deliver energy effectively. Founded in 2013 and based in San Jose, California, Neuspera aims to enhance the quality of life for patients dealing with chronic illnesses by providing less invasive and adaptable treatment options. The company's innovative approach allows for deeper implantation of its devices, offering patients new possibilities in managing their health conditions.

Exo

Series B in 2020
Exo is a medical device startup handheld ultrasound platform and AI for imaging and therapeutic applications. The company is committed to delivering affordable and easy-to-use medical imaging to healthcare professionals around the world. By delivering easy-to-use, high-quality medical imaging. Exo empowers healthcare professionals to make critical, real-time decisions that improve patient outcomes. The Exo ultrasound platform combines advances in nano-materials, novel sensor technologies, advanced signal processing, and computation with the economies of scale of semiconductor manufacturing to dramatically reduce the cost of imaging. It also represents a giant leap in imaging and therapeutics technology one that will drive the development of high-performance products that are accessible, easy-to-use, and available at a price point never before possible.

CVRx

Venture Round in 2020
CVRx, Inc. is a medical device company based in Minneapolis, Minnesota, that specializes in implantable technology for treating high blood pressure and heart failure. The company develops Barostim, a proprietary neuromodulation therapy that activates the body's natural reflexes to regulate blood pressure and address the progression of heart failure. This therapy is delivered through a long-lasting implant system that is tailored to meet individual patient needs. CVRx also manufactures the Rheos implantable pulse generator and associated components, which facilitate the delivery of activation energy to the carotid arteries. Founded in 2000, CVRx primarily serves patients and healthcare professionals in the United States and several European countries, focusing on minimally invasive solutions for cardiovascular diseases.

SetPoint Medical

Venture Round in 2019
SetPoint Medical Corporation is a clinical-stage bioelectronic medicine company based in Valencia, California, focused on developing implantable neuromodulation devices for treating chronic inflammatory diseases, including rheumatoid arthritis and Crohn's Disease. The company leverages the Inflammatory Reflex, a natural mechanism that allows the central nervous system to regulate the immune system, which has been extensively studied and documented in scientific literature. SetPoint's proprietary microregulator aims to enhance this reflex through vagus nerve stimulation, offering an alternative treatment option that provides systemic anti-inflammatory effects. The devices are designed to supplement the body's natural responses and are expected to deliver comparable anti-inflammatory potency to leading medications, while potentially offering improved safety and lower costs. Currently, SetPoint is conducting human trials for its technology at multiple centers in Europe.

Axon Therapies

Series A in 2019
Developer of a healthcare device designed to reduce sympathetic nerve activity and address the root cause of heart failure. The company's device allows clinicians to ablate the right greater splanchnic nerve using a small catheter inserted through the groin and helps to normalize sympathetic nervous activity, to shift blood volume from the heart back to the splanchnic bed, reducing pressures in the heart, enabling clinicians to begin treatment quickly, resulting in a higher likelihood of successful treatment.

CVRx

Series G in 2019
CVRx, Inc. is a medical device company based in Minneapolis, Minnesota, that specializes in implantable technology for treating high blood pressure and heart failure. The company develops Barostim, a proprietary neuromodulation therapy that activates the body's natural reflexes to regulate blood pressure and address the progression of heart failure. This therapy is delivered through a long-lasting implant system that is tailored to meet individual patient needs. CVRx also manufactures the Rheos implantable pulse generator and associated components, which facilitate the delivery of activation energy to the carotid arteries. Founded in 2000, CVRx primarily serves patients and healthcare professionals in the United States and several European countries, focusing on minimally invasive solutions for cardiovascular diseases.

Neuspera

Series B in 2019
Neuspera Medical Inc. specializes in the development and manufacture of ultra-miniaturized implantable devices designed for neuromodulation therapy, often referred to as "electroceuticals." Utilizing licensed mid-field powering technology, these devices leverage the body as a natural waveguide to deliver energy effectively. Founded in 2013 and based in San Jose, California, Neuspera aims to enhance the quality of life for patients dealing with chronic illnesses by providing less invasive and adaptable treatment options. The company's innovative approach allows for deeper implantation of its devices, offering patients new possibilities in managing their health conditions.

Neuspera

Series B in 2018
Neuspera Medical Inc. specializes in the development and manufacture of ultra-miniaturized implantable devices designed for neuromodulation therapy, often referred to as "electroceuticals." Utilizing licensed mid-field powering technology, these devices leverage the body as a natural waveguide to deliver energy effectively. Founded in 2013 and based in San Jose, California, Neuspera aims to enhance the quality of life for patients dealing with chronic illnesses by providing less invasive and adaptable treatment options. The company's innovative approach allows for deeper implantation of its devices, offering patients new possibilities in managing their health conditions.

SetPoint Medical

Series D in 2017
SetPoint Medical Corporation is a clinical-stage bioelectronic medicine company based in Valencia, California, focused on developing implantable neuromodulation devices for treating chronic inflammatory diseases, including rheumatoid arthritis and Crohn's Disease. The company leverages the Inflammatory Reflex, a natural mechanism that allows the central nervous system to regulate the immune system, which has been extensively studied and documented in scientific literature. SetPoint's proprietary microregulator aims to enhance this reflex through vagus nerve stimulation, offering an alternative treatment option that provides systemic anti-inflammatory effects. The devices are designed to supplement the body's natural responses and are expected to deliver comparable anti-inflammatory potency to leading medications, while potentially offering improved safety and lower costs. Currently, SetPoint is conducting human trials for its technology at multiple centers in Europe.

Saluda Medical

Series D in 2017
Saluda Medical Pty Ltd. is a medical device company focused on developing innovative solutions for the neuromodulation industry. The firm is known for its investigational device, Evoke, which features a closed-loop spinal cord stimulation system. This technology measures the spinal cord's response to stimulation and adjusts the stimulation parameters in real-time to optimize therapeutic outcomes for patients. Founded in 2010 and headquartered in Artarmon, Australia, with additional offices in Minnesota and the United Kingdom, Saluda Medical aims to provide effective treatment for chronic neuropathic pain. The company's unique approach involves monitoring each patient's neural fingerprint to automatically tailor electrical stimulation, ensuring that therapy is customized to meet individual needs. Saluda Medical's commitment to advancing medical technology is underpinned by a strong foundation of scientific research and a team of experienced professionals.

Cala Health

Series B in 2016
Cala Health, Inc. is a bioelectronic medicine company focused on developing innovative therapies for chronic diseases. Based in Burlingame, California, the company specializes in wearable neuromodulation devices that utilize advancements in neuroscience and technology to provide individualized peripheral nerve stimulation. Its flagship product, Cala Trio, is a non-invasive therapy designed to offer relief from hand tremors in adults with essential tremor, a condition affecting millions. In addition to its current offerings, Cala Health is actively developing new therapeutic solutions in the fields of neurology, cardiology, and psychiatry, aiming to enhance the standard of care for patients with chronic conditions. Founded in 2013, the company has garnered support from prominent investors in both the healthcare and technology sectors.

SetPoint Medical

Series C in 2015
SetPoint Medical Corporation is a clinical-stage bioelectronic medicine company based in Valencia, California, focused on developing implantable neuromodulation devices for treating chronic inflammatory diseases, including rheumatoid arthritis and Crohn's Disease. The company leverages the Inflammatory Reflex, a natural mechanism that allows the central nervous system to regulate the immune system, which has been extensively studied and documented in scientific literature. SetPoint's proprietary microregulator aims to enhance this reflex through vagus nerve stimulation, offering an alternative treatment option that provides systemic anti-inflammatory effects. The devices are designed to supplement the body's natural responses and are expected to deliver comparable anti-inflammatory potency to leading medications, while potentially offering improved safety and lower costs. Currently, SetPoint is conducting human trials for its technology at multiple centers in Europe.

SetPoint Medical

Series C in 2013
SetPoint Medical Corporation is a clinical-stage bioelectronic medicine company based in Valencia, California, focused on developing implantable neuromodulation devices for treating chronic inflammatory diseases, including rheumatoid arthritis and Crohn's Disease. The company leverages the Inflammatory Reflex, a natural mechanism that allows the central nervous system to regulate the immune system, which has been extensively studied and documented in scientific literature. SetPoint's proprietary microregulator aims to enhance this reflex through vagus nerve stimulation, offering an alternative treatment option that provides systemic anti-inflammatory effects. The devices are designed to supplement the body's natural responses and are expected to deliver comparable anti-inflammatory potency to leading medications, while potentially offering improved safety and lower costs. Currently, SetPoint is conducting human trials for its technology at multiple centers in Europe.
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