Neurotechnology startup Neuros Medical reported encouraging results from the first in-human study of its device that blocks pain for amputation patients.
The Willoughby, Ohio, company said that four of five patients in the study reported that Neuros’ device reduced their pain to “zero,” according to a statement from the company.
“My pain was gone, something I have not experienced since my amputation,” said one study participant. “I was able to sleep completely through the night, my first pain-free sleep in several years.”
Neuros is developing a device that uses a pacemaker-sized generator and an electrode to stimulate nerves to block pain from amputations — sometimes called stump pain — without the use of drugs. Last year, Neuros received a $1.2 million grant from the U.S. Department of Defense to further develop the device.
CEO Jon Snyder heralded the study’s results as indicating “a very bright future for the technology as a potential treatment for chronic pain.”
The company’s next big step is to complete next-generation product development and begin long-term safety and efficacy studies necessary to obtain regulatory approval to sell the device.
Neuros is likely three or four years away from applying for approval from the U.S. Food and Drug Administration to sell the device.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Snyder said he anticipates closing a $6 million to $7 million series B round “in the coming months” that will be used to add clinical and engineering staff.
Created in October 2008, Neuros Medical closed a $1.8 million round of funding from several investors, including lead investor North Coast Angel Fund in Cleveland in October 2009. Other investors include JumpStart, Case Technology Ventures, Glengary LLC in Cleveland, Ohio Tech Angel Fund in Columbus and Queen City Angels in Cincinnati.
