SetPoint Medical Secures $140M to Advance Commercialization of Rheumatoid Arthritis Therapy

Valencia, California-based SetPoint Medical has closed $140 million in private financing to accelerate the commercialization of its SetPoint System, a neuroimmune modulation therapy for adults with moderate-to-severe rheumatoid arthritis (RA). The funding includes $25 million from the second tranche of its Series C round and $115 million from a Series D round co-led by Elevage Medical Technologies and Ally Bridge Group. Proceeds will also support pipeline development for additional autoimmune conditions.

The Series D round brought in new investors, including Northwell Health, SPRIG Equity, and an undisclosed strategic investor, alongside returning backers such as Norwest, NEA, Viking Global Investors, Abbott, and Boston Scientific.

As part of the financing, Elevage Medical’s Josh Makower, M.D., and Ally Bridge Group’s Kevin Reilly have joined SetPoint’s board of directors. The company has also expanded its leadership team, appointing Erik Styacich as Vice President of Sales and Spencer Bailey as Vice President of Market Access & Reimbursement. Both bring extensive neuromodulation industry experience from previous senior roles.

CEO Murthy V. Simhambhatla, Ph.D., said the company is preparing for an initial U.S. market launch in select regions this year, with nationwide rollout targeted for 2026.