Nalu Medical, Inc. (Nalu), a private company focused on innovative, minimally invasive, and non-opioid solutions for chronic neuropathic pain, has announced the closing of a US$65 million equity financing. The round was led by a new investor, Novo Holdings. Also participating in the round were all of Nalu’s existing significant investors: Gilde Healthcare, MVM Partners, Endeavor Vision, Decheng Capital, Longitude Capital, Advent Life Sciences, Pura Vida, and Aperture Venture Partners. The proceeds from this financing will be used to accelerate commercial growth, expand clinical and health-economic evidence, continue product development, and scale operations.

Latham and Watkins LLP advised Nalu in the financing with a corporate deal team led by Orange County partners Shayne Kennedy and Ross McAloon, with associates Ed Grigoryan and Saem Kim. Advice was also provided on CFIUS matters by Washington, D.C. counsel Catherine Hein, with associate Kristen Haight.