Neuros Medical, Inc., a Cleveland, OH-based neuromodulation company, closed a $20m Series AA venture capital funding.
The round was led by U.S. Venture Partners with participation from Boston Scientific, Aperture Venture Partners, Osage University Partners, and JumpStart, Inc. In conjunction with the funding, Alan Kaganov, Sc.D. and Casey Tansey of U.S. Venture Partners joined Neuros Medical’s Board of Directors, as have Tony Natale, M.D., of Aperture Venture Partners and Bill Harrington, M.D., of Osage University Partners. Dr. Kaganov will serve as Chairman of the Board.
The company intends to use the funds to complete its initial pivotal IDE clinical study, which is evaluating the use of its patented Altius® System High Frequency Nerve Block technology for the management of post-amputation pain, and to secure Pre-Market Approval (PMA) from the Food & Drug Administration (FDA).
Led by Jon Snyder, President and Chief Executive Officer, Neuros Medical focuses on developing proprietary therapies for unmet needs to patients worldwide. Its patented platform Technology, the Altius® High Frequency Electrical Nerve Block, is focused on the elimination of chronic pain in a variety of conditions, including amputation pain, post-surgical pain, migraine, and trigeminal neuralgia.
The Neuros Altius System consists of an implantable generator with an integrated rechargeable battery, cuff electrode, and external devices (Clinician Programming Wand, Patient Controller and Charger).