electroCore, a New Jersey-based electroceutical company, raised $50m in funding.
Backers included Merck’s Global healthcare Innovation fund and private equity groups Easton Capital and Core Ventures.
Led by CEO and founder JP Errico, electroCore has developed and patented a non-invasive vagus nerve stimulation (nVNS) therapy for the treatment of a variety of conditions in neurology, psychiatry, gastroenterology and other conditions.
Its focus, at present, is primary headache – cluster and migraine – where it is finalizing four randomized studies in Europe and the US.
In Europe, the nVNS technology, as delivered by electroCore’s gammaCore device is considered CE markable, and a CE mark has been awarded in primary headache, bronchoconstruction, epilepsy, gastric motility disorders and depression and anxiety.
In the US the pivotal trial for headache is just finishing and an application for a US license will follow.