Magnus Medical Secures $64 Million to Revolutionize Brain Stimulation Therapy for Mental Health Transformation

Magnus Medical, a trailblazer in the realm of medical device innovation, is thrilled to announce that it has successfully raised $63,990,000 in its latest funding round. This significant capital infusion marks a pivotal milestone in the company’s mission to transform lives by restoring mental health through groundbreaking technology. Specializing in the development of brain stimulation solutions for neuropsychiatric disorders, Magnus Medical has set its sights on revolutionizing treatment options for conditions that have long eluded effective intervention. The company’s flagship product, the SAINT™ Neuromodulation System, stands as a testament to its innovative spirit. Recognized for its potential to offer hope where traditional therapies have fallen short, the SAINT™ system received Breakthrough Device Designation and 510(k) clearance from the U.S. Food & Drug Administration (FDA) in September 2022. This decisive recognition underlines its promise in treating major depressive disorder (MDD) in adults who have not experienced satisfactory improvement with previous antidepressant medications. The newly raised funds will be strategically allocated to accelerate ongoing research and development, broaden clinical trials, and scale production efforts. Moreover, the investment will support expanded collaborations with healthcare providers and further regulatory engagements to ensure that this life-changing treatment reaches patients in need as swiftly and safely as possible. This momentous funding milestone not only reinforces investor confidence in Magnus Medical’s pioneering technology but also signals a transformative shift in mental health treatment paradigms for those battling refractory neuropsychiatric conditions.