NeuroPace, which makes a brain-responsive neuromodulation system for drug-resistant epilepsy, raised $102 million by offering 6 million shares at $17, the high end of the price range of $15 to $17. The company offered 0.7 million more shares than anticipated.
NeuroPace states that its novel and differentiated RNS System is the first and only commercially available, brain-responsive neuromodulation system that delivers personalized, real-time treatment at the seizure source. Its RNS System is also the only commercially available device that records continuous brain activity data and allows clinicians to monitor patients not only in person, but also remotely. As of December 31, 2020, over 3,000 patients have received NeuroPace's RNS System.
NeuroPace plans to list on the Nasdaq under the symbol NPCE. J.P. Morgan, Morgan Stanley and Wells Fargo Securities acted as lead managers on the deal.
