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electroCore raises USD40m to fund commercialisation of gammaCore

electroCore, a company developing non-invasive Vagal Nerve Stimulation (nVNS) therapeutic devices to treat a range of medical conditions including primary headaches, has raised USD40m from Merck’s Global Healthcare Innovation Fund and private equity groups Easton Capital and Core Ventures.

 
The capital will be used to finance commercialisation of the company’s first approved product, gammaCore, in European and global markets where it is approved. In addition, funds will be used to continue ongoing clinical trials of gammaCore in primary headache, and to expand discovery and development programs in other neurological and psychiatric fields. 
 
gammaCore has not yet received regulatory approval in the US.
 
“We are looking forward to working with our investor partners to advance the presence of nVNS in the market,” says JP Errico, chief executive of electroCore. “As electroCore works to develop and commercialise our initial indication in primary headache, it was important to us that we secure the financing to conduct the robust studies required to conclusively demonstrate the potential of nVNS.”

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