Devices & Diagnostics, Startups

Device startup raises $2M to build iPod-sized wearable that uses ultrasound for pain

Update below Medical device company ZetrOZ, started by a couple of Cornell University grads, takes […]

Update below Medical device company ZetrOZ, started by a couple of Cornell University grads, takes an unconventional approach to treat chronic pain. Its wearable device uses ultrasound therapy for pain relief, specifically musculoskeletal and joint pain, distributed through a patch and a device the size of an iPod.

It has raised a little more than $2 million a few months after securing 510(K) clearance from the U.S. Food and Drug Administration, according to a Form D filed with the U.S. Securities and Exchange Commission.

Angel investor groups and private investors have been the main source of funding for ZetrOZ. Among its backers are Connecticut Innovations, Standard Oil Ventures, Angel Investor Forum, Mass Medical AngelsBoston Harbor Angels and Launchpad Venture Group. The funds are likely to be used to support sales and marketing and manufacturing for the device.

Update In an emailed statement from co-founder and CSO George Lewis, he said:

“It is so gratifying that the investor community has acknowledged the rapid growth of the wearable, medical technology industry and has made a significant investment in our growing company. With our recent FDA clearance, sam is the first and only sustained acoustic medicine device cleared for long duration pain management and soft-tissue rehabilitation. As we continue to grow, we look forward to educating the medical community, as well as the larger patient population, on the benefits of our effective drug-free pain solution, sam.”

The Sam wearable is designed to be worn for four hours at a time. In addition to relieving pain, Sam is also designed to improve circulation.

Prior to receiving FDA clearance for sam, ZetrOZ launched a version of the ultrasound therapy device for horses in 2011, called UltrOZ.

In addition to Lewis, the co-founders of the company include CEO Brant Guffey and COO JoAnne Guarino. Lewis is married to Sabrina Lewis, a quality assurance and regulatory affairs manager with the business.

The U.S. market for pain management is projected to reach $2.7 billion by 2022.

Ultrasound is at the heart of a lot of innovative medical devices under development. Nano Vibronix competes in the wearable pain management space with ZetrOZ. Other applications range from renal denervation to treat hypertension to helping bones heal to assessing head injuries.

The pain applications for ultrasound are relatively early in their development and some doctors are skeptical about their merits. In an interview with The Wall Street Journal, Stephen G. Rice, a sport medicine doctor in Neptune, New Jersey, and a fellow of the American College of Sports Medicine, called for more rigorous independent studies to demonstrate their effectiveness

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