Neuros Medical, Inc., a Cleveland, Ohio-based medical device company, has raised a $3.5m in funding.
The round was led by Boston Scientific and Glengary LLC, with participation from existing investors Case Tech Ventures, JumpStart Ventures, NorthCoast Angel Fund, Ohio Tech Angel Fund, Queen City Angel Fund III, Physician Investment Group, as well as new investors RiverVest Venture Partners, LLC, Blue Tree Allied Angels, and ModelVest.
Led by Jon J. Snyder, President and CEO, Neuros Medical has developed patented platform technology, Electrical Nerve Block™, focused on the elimination of chronic pain in a variety of applications including amputation pain, chronic post-surgical pain, chronic migraine, and trigeminal neuralgia.
The company recently received an Investigational Device Exemption (IDE) approval from the U.S. Food and Drug Administration (FDA), allowing it to commence a pilot clinical trial to evaluate its technology for use in acute treatment of pain in the residual limb of amputees. The trial is currently underway.