Neuros Medical Raises $38.5M Series BB

Neuros Medical, a medical device company developing innovative high-frequency nerve block technology for patients with intractable post-amputation pain, announced today the close of a Series BB financing totaling $38.5 million.

The financing was co-led by new investors Amzak Health and Sectoral Asset Management, joined by InCube Ventures, existing investors U.S. Venture Partners, Osage University Partners, and Aperture Venture Partners, and other existing and new investors. Joyce Erony of Amzak Health and Marc-Andre Marcotte of Sectoral Asset Management have joined Neuros' Board of Directors. Andrew Farquharson of InCube Ventures is serving as a Board Observer.

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 (IPG).