Dive Brief:
- Neuros Medical has raised $56 million to fund commercialization of its nerve stimulation system for chronic post-amputation pain, the company said Wednesday.
- The Altius device, which the Food and Drug Administration approved last year, treats phantom and residual lower limb pain in adult amputees by stimulating damaged nerve endings.
- Neuros will use the new funding to grow its commercial operations for Altius in the U.S. and further develop the nerve stimulation system.
Dive Insight:
Around 80% of people experience pain in the missing limb or remaining stump after amputation. Chronic post-amputation pain is associated with anxiety, depression and a lower quality of life. Medicines such as opioids can treat the pain but expose patients to side effects and the risk of tolerance or abuse, creating a need for alternative products.
Neuros developed Altius to address the need. The device consists of an implantable pulse generator with an integrated rechargeable battery. The generator is connected to an implanted cuff electrode that is wrapped around the target peripheral nerve.
Neuros validated the device in an active-sham controlled trial that enrolled 180 people. By month 12, average pain scores were reduced. Patients with Altius implants had fewer mean pain days per week, used opioids less and scored higher on a quality-of-life scale. Serious device-related adverse events affected 8% of patients.
The company signed a distribution agreement in February to make Altius available in VA Healthcare and Military Treatment facilities. More than 1,700 members of the U.S. armed forces sustained major deployment-related amputations from 2001 to 2017, but non-traumatic causes are more common. One study found diabetes and vascular diseases accounted for 94% of amputations in the U.S. in 2019.
Neuros will use the funding to scale its commercial operations. New investor EQT Life Sciences led the financing round with support from existing backers including US Venture Partners, Amzak Health, Osage University Partners, Sectoral Asset Management and Aperture Venture Partners.
