Johnson & Johnson Development Corporation joined existing major investors including DeNovo Ventures, ePlanet/DFJ, Kleiner Perkins Caufield & Byers, and MedVenture Associates in this financing. DFJ/InCube Ventures and Raffles Venture Partners are additional new investors.

Proceeds from the financing will be used to support further development of the company's next generation spinal cord stimulator system to treat patients suffering from chronic intractable pain.

David Wood, president and CEO of Spinal Modulation, said: "As we begin to better understand the mechanisms behind the disease, treatment options will advance and patients will have more alternatives. When you look at the technologies that currently exist for patients suffering with chronic pain, it is obvious that there is a great need for innovation. We are very encouraged by our early results with Spinal Modulation's innovative technology."

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