Neuros Medical has raised $56m in a Series D funding round, led by EQT Life Sciences, to commercialise its Altius Direct Electrical Nerve Stimulation System in the US.
Existing investors, Amzak Health, Aperture Venture Partners, Osage University Partners, Sectoral Asset Management, and US Venture Partners, participated in the funding round.
Neuros intends to use the investment to support the US commercialisation and further development of the Altius System.
The Altius System offers a non-opioid solution for chronic post-amputation pain to enhance the quality of life for amputees through nerve stimulation technology.
EQT Life Sciences advisory team partner Fouad Azzam said: “Neuros Medical is addressing one of the most urgent and overlooked challenges in chronic pain management.
“EQT believes Altius has the potential to significantly improve the quality of life for amputees, and we are proud to partner with this team to bring the therapy to market.”
The Altius System is a patient-controlled, on-demand device designed to inhibit pain signal transmission from damaged peripheral nerves to the central nervous system.
It includes a nerve cuff electrode and an implantable pulse generator, allowing patients to initiate 30-minute treatment sessions for targeted pain relief.
Approved by the US Food and Drug Administration (FDA), the Altius System is indicated for managing chronic intractable phantom and residual lower limb post-amputation pain.
The system is the only FDA-approved device offering patient-controlled, on-demand relief by directly targeting nerve pain.
Neuros Medical president and CEO David Veino said: “I would like to thank our new and existing investors for their support in our mission to relieve pain and restore life for the millions of people suffering from chronic post-amputation pain.
“This funding round is a strong validation of the unmet medical need in the amputee community and allows us to scale our commercial operations to expand access to this breakthrough technology, while equipping healthcare professionals with a non-opioid solution and support they need to deliver the highest standard of care.”
