ReGear Life Sciences has added additional funding to support its deep tissue heating pain management device, according to a recent regulatory filing.
The therapeutic heating company has raised $850,000 in equity since July, according to the new document. That’s up from the $500,000 in equity the company revealed in a filing last August.
Pittsburgh-based ReGear started out in the sports and military markets, having licensed its technology from the U.S. Navy. But for ReGear, the big money lies in the long-term care market.
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Gabby Everett, the site director for BioLabs Pegasus Park, offered a tour of the space and shared some examples of why early-stage life science companies should choose North Texas.
The company’s four-pound ReBound device can deliver an electromagnetic field deep into tissues to generate therapeutic heating up to 4 centimeters below the skin’s surface. ReGear says the device decreases pain while it increases mobility and flexibility.
The company markets the device for a wide range of conditions, including arthritis, carpal tunnel syndrome, tendinitis and shin splints. The ReBound pain management device comes with several different “therapy garments,” which contain heating coils and are shaped to fit various body parts.
ReGear has an impressive client list, including several professional sports teams and universities such as the Chicago Cubs, Memphis Grizzlies and Florida State University. Another key client is Life Care Centers of America, which operates or manages hundreds of long-term care centers across the country.
ReGear’s lead investor is Pittsburgh-based private equity firm Stonewood Capital Management.
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.
CEO Jeff Swoveland didn’t return a call.
