Temasek’s Vertex Ventures co-leads Neuspera Medical’s US$65M series C round

U.S. one-dollar currency notes; taken September 2018.U.S. one dollar bills.

Temasek subsidiary Vertex Ventures HC co-led, with Treo Ventures, medical device player Neuspera Medical’s US$65 million series C funding round, the company said in a press release Tuesday.

Returning investors in the round included Action Potential Venture Partners and Windham Venture Partners, the statement said.

The proceeds are earmarked for the company’s SANS-UUI pivotal clinical study of its miniaturized implantable neuromodulation technology platform for patients with urinary urgency incontinence, which is a symptom of overactive bladder, the press release said.

Neuspera’s implantable modules use proprietary power transfer methods to make the devices significantly smaller than devices using traditional implanted battery power sources, the statement said.

“Vertex Ventures HC is focused on enabling transformative solutions that help to improve the quality of human life,” Lori Hu, a managing director at Vertex Ventures HC, said in the statement. “We see the Neuspera platform as a catalyst for bringing the known thereapeutic benefits of implantable devices to a significantly broader population.”

Hu and Mudit K. Jain, a managing partner at Treo Ventures, both joined Neuspera Medical’s board of directors, the statement said.

Neuspera Medical has raised US$112.6 million across four funding rounds, with previous investors including 6 Dimensions Capital, Alumni Ventures Group and Delta Capital Management, according to Crunchbase data.

Vertex Ventures HC invests in healthcare sectors including biopharmaceuticals, medical devices and digital health, with target companies ranging from early to commercial stages of development.

Treo Ventures invests in medical device and digital health innovation; it has raised US$125 million for its Strategic Healthcare Investment Partners I fund, according to Crunchbase data.

In July, Singapore’s state-owned investment company Temasek Holdings reported its net portfolio value (NPV) climbed to a record S$381 billion, or US$283 billion, for the fiscal year ended 31 March.