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| ZetrOZ's Sam device--Courtesy of ZetrOZ |
Medical device outfit ZetrOZ raked in $2 million in financing to support development of its wearable ultrasound therapy device for chronic pain relief.
Angel investor groups and private investors contributed funding, including Connecticut Innovations, Standard Oil Ventures and Angel Investor Forum, MedCity News reports. The Trumbull, CT-based company's Sam device distributes ultrasound therapy through a patch and a device the size of an iPod to relieve musculoskeletal and joint pain, and is designed to be worn for four hours at a time on a single charge.
ZetrOZ won FDA 510(k) clearance for its product in February, and plans to launch the device in 2014, the company said in an earlier statement.
"The use of therapeutic ultrasound to treat a variety of conditions, including musculoskeletal pain, offers great promise to our patients," Dr. Thomas M. Best, Professor and Pomerene Chair, Division of Sports Medicine at Ohio State University, said in a statement. "In particular, this low intensity, iPod-sized, wearable, battery powered device and its early success in a series of pilot studies represent a breakthrough in our abilities to treat patients in a user friendly, convenient manner."
Not all physicians are as convinced about the device's merits, however. Several small studies show reduction in pain in the joints and increased mobility in people with arthritic knees when outfitted with wearable ultrasound therapy, but more rigorous independent studies are needed to determine the device's overall effectiveness, Dr. Stephen G. Rice told The Wall Street Journal in March. Sam's cost could also be a turnoff to patients, as the device costs $799 with one applicator, $199 for an additional one, plus $2.50 to $2.99 for each adhesive pad. "I wouldn't be running out to buy one," Rice said (as quoted by the WSJ).
Still, ZetrOZ remains one of many companies hoping to cash in on a profitable pain market. The U.S. market for pain management is projected to reach $2.7 billion by 2022, according to Decision Resources Group, and devicemakers are developing innovative devices to provide relief for chronic pain.
One such approach is bioelectronics, or neuromodulation implants that can treat chronic inflammatory diseases. SetPoint Medical, a 2013 Fierce 15 honoree, is working on a miniature implantable neuromodulation device with a wireless charge and iPad app to monitor and control treatment. The device sends mild shocks to the vargus nerve to trigger the body's natural inflammatory reflex, which in turn reduces swelling and inflammation.
- read the MedCity News story
- here's ZetrOZ's SEC filing
- get more from The Wall Street Journal (sub. req.)