SetPoint Medical raises $140 million to commercialize rheumatoid arthritis therapy

SetPoint Medical announced it has raised $140 million in private financing to support the U.S. launch of its neuroimmune modulation therapy for moderate-to-severe rheumatoid arthritis and advance development of treatments for other autoimmune conditions.

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.

The proceeds will support commercialization of the SetPoint System, which the company describes as the first-of-its-kind neuroimmune modulation therapy for adults with rheumatoid arthritis. The device is expected to debut in select U.S. markets this year, with a national rollout planned for 2026.

As part of the Series D round, Josh Makower, M.D., of Elevage Medical Technologies, and Kevin Reilly of Ally Bridge Group have joined SetPoint’s board of directors. New investors include Northwell Health, SPRIG Equity and an undisclosed strategic investor. Returning backers include Norwest, New Enterprise Associates, Viking Global Investors, and several other institutional and strategic investors.

In preparation for commercialization, SetPoint appointed Erik Styacich as vice president of sales and Spencer Bailey as vice president of market access and reimbursement. Both have held senior roles in neuromodulation companies.

“We are pleased to share these strategic milestones underpinning our commitment to a successful and seamless market launch,” said CEO Murthy V. Simhambhatla, Ph.D. “We are thrilled to welcome an outstanding group of new investors to our exceptional syndicate.”

Advances in neuroimmune modulation and autoimmune disease treatment

The treatment landscape for autoimmune diseases is evolving rapidly, with neuroimmune modulation emerging as one of the most promising frontiers. This approach targets the communication pathways between the nervous and immune systems, seeking to control inflammation without relying solely on pharmaceuticals that can cause broad immune suppression.

Recent advancements include the refinement of implantable and wearable devices capable of stimulating specific nerves to reduce inflammatory responses. Improvements in device miniaturization, battery life, and wireless connectivity have made these therapies more practical for long-term use, while advances in precision targeting allow for more effective and personalized treatments.

Researchers are also working to better understand the role of the vagus nerve and other neural pathways in regulating immune activity. By mapping these networks in greater detail, scientists can design therapies that address disease mechanisms more directly, potentially reducing side effects compared with systemic drug therapies.

Clinical trials have expanded beyond rheumatoid arthritis to explore neuroimmune modulation in conditions such as Crohn’s disease, lupus, multiple sclerosis, and psoriasis. Early results have shown potential for durable symptom relief and improved quality of life, even in patients who have not responded to standard medications.

In parallel, regulatory agencies have begun to establish clearer pathways for bringing these technologies to market, and payers are evaluating reimbursement models that reflect the potential for long-term cost savings through reduced medication use and hospitalizations. Together, these developments suggest that neuroimmune modulation could soon play a central role in the standard of care for many autoimmune diseases.