Cervel Neurotech

Cervel's core technology is a form of repetitive Transcranial Magnetic Stimulation (rTMS) that utilizes an array of magnetic coils placed on the scalp. This system, known as Steerable TMS™, is designed to generate and steer magnetic fields to selectively stimulate both surface and deep brain regions associated with specific disorders like depression and pain. By inducing small electrical currents, the technology aims to modulate brain function and restore optimal metabolic activity, offering a non-pharmacologic and non-systemic therapeutic solution. A key feature is the ability to target specific neural networks while avoiding unintended stimulation of other areas, which could lead to quicker and more successful treatments.

The company's business model centers on the development and eventual commercialization of its medical devices pending regulatory approval. The primary markets are psychiatric and neurologic care, with an initial focus on treating major depressive disorder for patients who are resistant or intolerant to medication. Cervel's devices are not yet cleared for commercial use in the U.S. and are approved only for clinical research purposes. The company has engaged in multiple funding rounds to finance its clinical trials, raising significant capital from investors including D. E. Shaw Ventures and Aberdare Ventures. In 2013, Cervel announced a $14.1 million financing round, and by 2014, was nearing the close of an $11.9 million round to fund larger-scale clinical activities necessary for validation.