Neuros Medical Secures $56M Funding for Nerve Stimulation System to Treat Post-Amputation Pain

Neuros Medical, a medical device company specializing in neurostimulation technology, has successfully raised $56 million in a recent funding round to support the commercialization of its innovative Altius nerve stimulation system. The device, which received FDA approval last year, aims to address chronic post-amputation pain in adult amputees, offering a potential alternative to traditional pain management approaches.

Altius System: A Novel Approach to Post-Amputation Pain

The Altius device represents a significant advancement in the treatment of phantom and residual limb pain, a condition that affects approximately 80% of amputees. The system consists of an implantable pulse generator with an integrated rechargeable battery, connected to a cuff electrode that wraps around the target peripheral nerve. By stimulating damaged nerve endings, Altius aims to alleviate pain and improve quality of life for patients struggling with post-amputation discomfort.

Neuros Medical validated the efficacy of the Altius system through a rigorous clinical trial involving 180 participants. The study, which employed an active-sham controlled design, demonstrated promising results at the 12-month mark. Patients with Altius implants reported fewer mean pain days per week, reduced opioid usage, and higher scores on quality-of-life scales compared to the control group. However, it's worth noting that serious device-related adverse events were observed in 8% of patients, underlining the importance of careful patient selection and monitoring.

Expanding Access and Commercial Growth

With the new funding in hand, Neuros Medical is poised to accelerate its commercial operations in the United States and further develop the Altius system. The company has already taken steps to broaden access to its technology, signing a distribution agreement in February to make Altius available in VA Healthcare and Military Treatment facilities. This move is particularly significant given that more than 1,700 members of the U.S. armed forces sustained major deployment-related amputations from 2001 to 2017.

While traumatic amputations, such as those resulting from military service, represent a crucial market for Altius, the device's potential reach extends far beyond this population. Recent studies indicate that diabetes and vascular diseases account for the vast majority of amputations in the United States, with one study reporting that these conditions were responsible for 94% of amputations in 2019. This data suggests a substantial market opportunity for Neuros Medical's technology in addressing chronic pain associated with both traumatic and non-traumatic amputations.

The $56 million funding round was led by new investor EQT Life Sciences, with support from existing backers including US Venture Partners, Amzak Health, Osage University Partners, Sectoral Asset Management, and Aperture Venture Partners. This diverse group of investors underscores the confidence in Neuros Medical's technology and its potential to transform pain management for amputees.

As Neuros Medical moves forward with its commercialization efforts, the Altius system stands to offer hope to millions of individuals suffering from chronic post-amputation pain. By providing an alternative to traditional pain management strategies, which often rely heavily on opioids and their associated risks, Altius has the potential to significantly improve quality of life for amputees while addressing the ongoing challenges of opioid use in pain management.