SPR Therapeutics, a one-year-old Beachwood, Ohio-based company that is commercializing its proprietary neurostimulation therapy for pain relief, has recieved a $250,000 investment from JumpStart Ventures.
SPR Therapeutics, a spinoff of NDI Medical, LLC, which developed the technology and licensed it to the startup, is led by President and CEO Maria Bennett, former Vice President of Clinical Affairs at NDI Medical. Its first product, the SMARTPATCH™ System, is an external stimulator that is designed to deliver an electrical signal to an electrode placed in the muscle. The electrical signals stimulate the target nerve within the muscle, thereby exercising the muscle to treat the pain.
The company has also received Small Business Innovation Research grants from the federal government and a $100,000 grant from the Innovation Fund.