Neuros Medical raised $20 million in financing to complete the pivotal study of its neuromodulation device for the management of postamputation pain.
The study will involve 130 patients at 15 sites in the U.S. and will assess the safety and efficacy of Neuros’ Altius System, which comprises an implantable generator, similar to a pacemaker, with an integrated rechargeable battery, cuff electrode and external devices. The system works by delivering electrical signals to nerves to block them and relieve pain.
U.S. Venture Partners led the round, while Boston Scientific, Aperture Venture Partners, Osage University Partners and JumpStart also participated.
While the Cleveland, Ohio-based company is eyeing FDA approval for postamputation pain, it plans to investigate other chronic pain indications, including postsurgical pain, migraine and trigeminal neuralgia, a condition that affects the trigeminal nerve in the face.
Boston Sci’s MRI-compatible deep-brain stimulator earned a CE mark in June. The device delivers electrical impulses to specific regions of the brain to ease motor symptoms of Parkinson’s disease, dystonia and essential tremor. However, the company’s deep-brain stimulators are not approved for sale in the U.S., where competitors Medtronic and Abbott—thanks to its $25 billion St. Jude acquisition—sell similar systems. In addition to DBS systems for the trio of motor conditions, Medtronic and Abbott market neuromodulation devices for chronic pain.