Palyon Medical Corporation Secures $21 Million Series A Investment Led By Baird Venture Partners
Palyon’s Programmable Implantable Drug Delivery System Intended for Management of Chronic Pain, Spasticity and other Neurological Diseases
NEW YORK, APRIL 29, 2009
Palyon Medical Corporation (Palyon), a New York-based medical device company, announced today it has raised $21 million in Series A financing. The proceeds will be used to finance a multi-site clinical study and to commercialize Palyon’s programmable implantable drug delivery system, which delivers targeted doses of pain medication directly to the spinal area. Baird Venture Partners led the round, with Hambrecht & Quist Capital Management, Fountain Healthcare Partners, BB Biotech Ventures, Cross Atlantic Partners and Arcus Ventures also participating in the transaction.