Theranica Secures $35 Million Series B Funding to Advance Nerivio Migra Smart Patch for Acute Migraine Treatment

VCBeat (WeChat ID: vcbeat) has learned that Israeli biotechnology company Theranica completed a $35 million Series B financing round on March 18 local time. The round was led by aMoon, with participation from Lightspeed Venture Partners, LionBird, and Corundum Open Innovation.

Since its establishment in 2016, Theranica has cumulatively raised over $41 million in funding, having completed its angel round and Series A financing in 2016 and 2017, respectively.

Funding History (Source: Crunchbase)

Theranica is a medical device company co-founded by Alon Ironi, Ronen Jashek, and Dr. Shimon Eckhouse. The company combines neuromodulation therapy with modern wireless technology to develop wearable devices that alleviate symptoms of various conditions.

The company’s flagship product, Nerivio Migra, is a non-invasive, non-pharmacological “smart” patch for the treatment of acute migraine. The device is worn on the patient’s upper arm and can be controlled directly via a smartphone app; it delivers electrical pulses to inhibit nerve signal transmission, thereby alleviating pain.

Schematic Diagram of Nerivio Migra in Operation (Source: Company Website)

In October 2018, Theranica achieved a pivotal milestone with Nerivio Migra, as the device successfully completed 12 clinical trials in the United States and Israel involving nearly 300 migraine patients, and is currently under FDA review.

Nerivio Migra Efficacy Chart (Source: Company Website)

“Once FDA approval is obtained, the company will immediately begin mass production of Nerivio Migra and deliver the device to millions of migraine sufferers in the United States. In addition to this product, we will further develop devices targeting other clinical syndromes,” said Alon Ironi, CEO and Co-Founder of Theranica. “We chose to start with the United States because it is the largest market for migraine.”

“Theranica’s vision aligns closely with our current investment strategy,” said Todd Sone, Partner at aMoon. “Theranica’s innovative migraine treatment device combines advanced technology with clinical practicality, offering strong safety and tolerability to maximize patient benefits.”

Nerivio Migra Wearable Diagram (Source: Company Website)

aMoon is a venture capital fund founded by Marius Nacht and Dr. Yair Schindel in 2016, focusing on investments in health tech and life sciences. The firm helps emerging companies in the biopharmaceutical, digital health, and medical technology sectors grow.

Lightspeed Venture Partners, founded in 2000 and headquartered in Menlo Park, California, invests across multiple sectors including consumer, big data, clean energy, and medical technology, with offices in China, India, and Israel. Since its inception, the firm has invested in more than 300 companies, one-third of which have gone public or been acquired.

(Compiled by Yang Shaobo)