Neuros Medical Secures $25M Funding to Advance Its Altius® High-Frequency Nerve Block Platform for Chronic Post-Amputation Pain

Nov 09, 2023 09:00 CST Updated 09:00

Neuros Medical

Trinity Capital

Equity Investment Firm

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On October 31, Neuros Medical, a developer of neurostimulation therapies, secured $25 million in financing, led by Trinity Capital. The company plans to use the funds to augment its recently raised equity and further expand its business scale, thereby supporting its commercialization efforts.

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Neuros Medical, founded in 2008 and headquartered in Ohio, USA, utilizes neurostimulation to treat chronic pain in patients following amputation. Its patented Altius System platform, featuring “High-Frequency Nerve Block Technology,” is dedicated to eliminating chronic pain across various applications. The company’s primary therapeutic approach involves implanting electrodes into peripheral nerves to deliver high-frequency neurostimulation for the management of chronic pain conditions, including refractory post-amputation pain (phantom limb pain and residual limb pain), post-surgical pain, migraines, and trigeminal neuralgia.

To date, Neuros Medical has completed 13 rounds of financing, totaling $113.7 million:

01 Chronic Pain in Amputees: Unmet Needs

It is estimated that more than 2 million people in the United States are currently living with limb loss, and nearly 185,000 individuals undergo amputation surgery each year due to causes such as peripheral vascular disease, trauma, and cancer. Due to the prevalence of peripheral artery disease and diabetes, the number of amputees is expected to continue rising, with projections indicating that the population of individuals with limb loss will double by 2050.

Even after the amputation site has healed, pain often persists because nerve damage leads to scarring and attempted regeneration, frequently resulting in unpredictable, ongoing pain. Chronic post-amputation pain is relatively common, affecting approximately 70% of amputees to varying degrees. Most amputees experience both chronic residual limb pain and phantom limb pain, with some patients enduring this chronic pain for up to 20 years. Furthermore, chronic pain following amputation can lead to other health issues, such as depression, post-traumatic stress disorder (PTSD), and drug dependence.

02 Neuros Medical: Neuromodulation for Pain Relief

Guided by the nerve-blocking agent lidocaine (a local anesthetic), Neuros Medical has developed a neuromodulation platform that uses high-frequency signals (5–10 kHz) to block pain signals from entering the brain via specific peripheral nerves, thereby achieving pain relief.

Neuros Medical’s neuromodulation technology was co-founded by Dr. Kevin Kilgore and Dr. Niloy Bhadra of the Department of Biomedical Engineering at Case Western Reserve University, together with MetroHealth Medical Center; its development was funded by the National Institute of Biomedical Imaging and Bioengineering.

The Altius system, developed by Neuros Medical, Inc., is designed for the treatment of chronic phantom limb pain and residual limb pain following amputation. This system utilizes Neuros’ patented bioelectronic on-demand nerve block technology to target the source of pain—the affected peripheral nerves—by placing electrodes on the nerves wrapped around the target nerves: for below-knee amputees, electrodes are placed on the common peroneal nerve and the tibial nerve; for above-knee amputees, electrodes are placed on the sciatic nerve.

The Altius System consists of an implantable pulse generator (IPG) with an integrated rechargeable battery, a cuff electrode placed around the peripheral nerve, and external devices (including a Programming Wand for physician use, a patient controller, and a charger).

The electrodes are connected via leads to an implantable pulse generator (IPG) equipped with a rechargeable battery. Patients can activate the electrodes using an external handheld controller; upon pressing a button, the controller operates for 30 minutes and can be used when pain is experienced during daily activities.

Neuros Medical is conducting a clinical study named QUEST on post-amputation pain (phantom limb pain, residual limb pain, and neuroma pain). This randomized controlled trial is tracking the treatment effects in 180 patients across 25 clinical research sites in the United States to evaluate the efficacy and safety of the Altius System.

On June 29, 2021, the Company received Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) for its novel high-frequency nerve block system as an adjunctive treatment for chronic, intractable pain in the lower limbs of adult amputees. By the end of 2021, Neuros completed enrollment in the QUEST study. Per the study protocol, the study remains blinded throughout the 12-month follow-up period.

Author: Zhang Qiankun

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