Sam Brusco, Associate Editor03.05.24
Nalu Medical has closed an incremental $20 million in equity financing, bringing its total Series E investment round to $85 million.
The company said proceeds from the financing will be leveraged to boost commercial growth, broaden clinical and health-economic evidence, continue product development, and scale operations.
Nalu’s neurostimulation system delivers electrical pulses to the nervous system to modulate pain signals before they reach the brain. The Nalu System consists of a battery-free, miniaturized implantable pulse generator powered wirelessly by an externally worn therapy disc, and controlled by a smartphone-based remote control app.
The company says the Nalu micro-IPG provides treatment capabilities similar to larger IPGs. It has an expected service life of 18 years and is U.S. Food and Drug Administration (FDA) cleared for spinal cord stimulation and peripheral nerve stimulation.
“The Nalu Team is committed to addressing the unmet needs of patients suffering from chronic intractable neuropathic pain. We believe that our highly capable technology and uniquely small implant will elevate the standard of care in peripheral nerve stimulation (PNS) while being disruptive to the established spinal cord stimulation (SCS) market,” said Nalu president and CEO Tom West. “We are proud that our efforts serve the greater well-being of patients who suffer from chronic pain, and we are grateful for B Capital’s support in fulfilling and accelerating our mission.”
In January 2024, Nalu presented interim data from its landmark COMFORT trial at the North American Neuromodulation Society (NANS) annual meeting.
The company said proceeds from the financing will be leveraged to boost commercial growth, broaden clinical and health-economic evidence, continue product development, and scale operations.
Nalu’s neurostimulation system delivers electrical pulses to the nervous system to modulate pain signals before they reach the brain. The Nalu System consists of a battery-free, miniaturized implantable pulse generator powered wirelessly by an externally worn therapy disc, and controlled by a smartphone-based remote control app.
The company says the Nalu micro-IPG provides treatment capabilities similar to larger IPGs. It has an expected service life of 18 years and is U.S. Food and Drug Administration (FDA) cleared for spinal cord stimulation and peripheral nerve stimulation.
“The Nalu Team is committed to addressing the unmet needs of patients suffering from chronic intractable neuropathic pain. We believe that our highly capable technology and uniquely small implant will elevate the standard of care in peripheral nerve stimulation (PNS) while being disruptive to the established spinal cord stimulation (SCS) market,” said Nalu president and CEO Tom West. “We are proud that our efforts serve the greater well-being of patients who suffer from chronic pain, and we are grateful for B Capital’s support in fulfilling and accelerating our mission.”
In January 2024, Nalu presented interim data from its landmark COMFORT trial at the North American Neuromodulation Society (NANS) annual meeting.