Medical device company Saluda Medical Pty Limited said on Monday that it has received USD75m under its equity financing with Boston Scientific Corporation (NYSE:BSX) and Redmile Group LLC.

Saluda Medical intends to use the funds for the final stages of development through commercialisation of its Evoke ECAP-Controlled, Closed-Loop Spinal Cord Stimulation (SCS) System for the treatment of chronic intractable pain of the trunk and limbs.

Boston Scientific, Redmile and one other financial institution participated in the capital raise.

Piper Jaffray acted as financial advisor to Saluda for the equity financing.