Funding of $56 Million Secured for Neuros Medical in Series D Round, Focusing on Alternative Pain Therapy That Does Not Involve Opioids

Neuros Medical and EQT Life Sciences Partner to Commercialize Breakthrough Chronic Pain Treatment for Amputees

In a significant move towards addressing a significant challenge in chronic pain management, especially for amputees, Neuros Medical has secured an oversubscribed $56 million Series D financing round. The funding round was led by EQT Life Sciences, with existing investors also participating.

The partnership between Neuros Medical and EQT Life Sciences is aimed at commercializing the Altius Direct Electrical Nerve Stimulation System, a FDA-approved system for chronic post-amputation pain. The funding will support the U.S. commercialization of this breakthrough technology, equipping healthcare professionals with a non-opioid solution for delivering the highest standard of care to amputees.

Fouad Azzam, Ph.D., a Partner in the EQT Life Sciences advisory team, expressed his belief that Neuros Medical's Altius has the potential to improve the quality of life for amputees. Henrik Landgren, a partner at EQT Ventures and the founder associated with EQT Life Sciences, also expressed his support for the funding round.

David Veino, the President and CEO of Neuros Medical, stated that the funding will be used for further development of the non-opioid treatment and for scaling its commercial operations. The goal is to expand access to the breakthrough technology and bring the Altius therapy to market, in partnership with EQT Life Sciences.

The partnership emphasizes the potential of the Altius system to address an unmet medical need in the amputee community. The funding round is a strong validation of the unmet medical need in this community, and the partnership is a significant step towards bringing a non-opioid treatment for chronic post-amputation pain to the market.

The partnership between Neuros Medical and EQT Life Sciences is expected to support the scaling of commercial operations and the expansion of access to the breakthrough technology. This partnership will enable Neuros Medical to scale its commercial operations and bring the Altius therapy to more amputees, improving their quality of life.