NeuraLace Medical, a San Diego-based company focused on developing non-opioid pain reduction treatment, raised $2m in funding.
The round was led by FusionX Ventures with participation from Mooring Ventures.
The company intends to use the funds to secure FDA 510(k) approval and to launch its Axon Therapy nerve pain alleviation treatment. Once approved, Axon Therapy devices will be manufactured by D&K Engineering in San Diego.
Led by Shiv Shukla, founder and chief executive officer, NeuraLace Medical builds a specialized system for relieving chronic nerve pain. Axon Therapy, the companies’ first commercial product introduction, utilizes targeted pulsed magnetic fields to stimulate nerves. By delivering focused magnetic pulses directly to the target nerve, Axon therapy aims to reactivate and restore the damaged nerve’s ability to manage pain.