Neuros Medical adds Joyce Erony and Marc-Andre Marcotte to Board along with raising $38.5m Series BB funding co-led by Amzak Health and Sectoral AM

– USA, OH –  Neuros Medical, Inc., a medical device company developing innovative high-frequency nerve block technology for patients with intractable post-amputation pain, today announced the close of a Series BB financing totaling $38.5 million co-led by new investors Amzak Health and Sectoral Asset Management and joined by InCube Ventures, existing investors U.S. Venture Partners, Osage University Partners, and Aperture Venture Partners, and other existing and new investors.

Concurrent with the financing, Joyce Erony of Amzak Health and Marc-Andre Marcotte of Sectoral Asset Management have joined the Board of Directors.

“The QUEST Study is a rigorous clinical trial that is being conducted in a historically understudied population,” commented Joyce Erony and Marc-Andre Marcotte. “Altius has the potential to become a very important treatment alternative for the large, addressable pool of patients who suffer from chronic post-amputation pain, including an opportunity to reduce ongoing dependency on opioids.”

Andrew Farquharson of InCube Ventures is serving as a Board Observer.

The financing provides Neuros with capital to complete enrollment of the pivotal QUEST (High-FreQUEncy Nerve Block for PoST-Amputation Pain) study, and to submit an anticipated application for Pre-Market Approval. QUEST is a 180-subject, randomized, double-blinded, active sham-controlled clinical trial that is being conducted under an Investigational Device Exemption. QUEST is designed to assess the safety & effectiveness of the Company’s AltiusÒ High-Frequency Nerve Block system to treat intractable post-amputation pain.

“We are fortunate to have the support of a strong consortium of life sciences venture capital firms and welcome Amzak Health, Sectoral Asset Management, and InCube Ventures as investors in Neuros,” said CEO, Tom Wilder.

About Neuros Medical, Inc.

Neuros Medical, a neuromodulation company, has developed the Altius system for the treatment of chronic post-amputation pain (Phantom Limb Pain and Residual Limb Pain). Altius incorporates the Company’s patented platform technology, High-Frequency Nerve Block.

Originally invented by Drs. Kevin Kilgore and Niloy Bhadra of Case Western Reserve University, Neuros’ technology delivers a high-frequency electrical signal to sensory nerves in the peripheral nervous system to block the pain signal. The system consists of a nerve cuff electrode (also known as a lead) placed around a peripheral nerve and an implantable pulse generator.

Chronic pain is characterized as pain lasting more than 3 months in duration. Post-amputation pain includes both phantom limb and residual limb pain and impacts nearly one million Americans. There are nearly two million amputees in the U.S., with 185,000 new amputations occurring every year. Post-amputation pain represents a significant unmet medical need, as existing treatment options are limited and consist primarily of opioids and gabapentinoids.

For more information: https://www.neurosmedical.com/

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