CWRU‘s pain neurostimulation spinout has secured series BB funding ahead of a 180-patient trial.
Neuros Medical, a US-based pain treatment spinout of Case Western Reserve University, raised $38.5m yesterday in a series BB round backed by spinout-focused investment firm Osage University Partners.
Investment advisory firm Sectoral Asset Management and Amzak Health, a vehicle for asset management Amzak Capital Management, co-led the round with further from participation InCube Ventures, US Venture Partners, Aperture Venture Partners and undisclosed investors.
A regulatory filing suggests most of the money was secured in November 2020.
Founded in 2008, Neuros Medical has designed a medical implant for treating intractable pain following amputation surgery.
The implant is a pacemaker-sized generator that directs high-frequency electrical pulses into the peripheral nervous system and counteracts signals which tell the body to feel pain.
The concept originates from Case Western research co-led by Kevin Kilgore and Niloy Bhadra, two adjunct assistant professors at the university’s Department of Biomedical Engineers.
