EQT Life Sciences Secures Major Funding for Pain Treatment
EQT Life Sciences Secures Funding to Enhance Pain Management
EQT Life Sciences is at the forefront of medical innovation, recently leading a remarkable $56 million Series D financing round for Neuros Medical, Inc. This funding aims to drive the U.S. commercialization of Altius, a groundbreaking FDA-approved system designed specifically for individuals suffering from chronic post-amputation pain.
Addressing an Unmet Medical Need
Post-amputation pain is a serious condition, impacting approximately 80% of amputees across the United States. Unfortunately, there are limited effective non-opioid treatment options available for patients in this circumstance. Neuros Medical is stepping in to fill this gap with its Altius system.
The Altius System: A Game Changer
The Altius is a direct electrical nerve stimulation system that yields targeted and on-demand therapy. As the only FDA-approved solution for treating post-amputation pain, it represents a significant advancement in chronic pain management for adult amputees.
Making Lives Better
David Veino, President and CEO of Neuros Medical, expressed appreciation for the funding, stating, "This support enables us to scale our commercial operations and expand access to a breakthrough non-opioid treatment for an underserved patient population. Our mission is to alleviate pain and restore normalcy in life for amputees, and we are thankful for the backing of EQT and our partners."
EQT's Commitment to Healthcare Innovation
Fouad Azzam, Ph.D., a partner at EQT Life Sciences, highlighted the urgency of the problem being tackled by Neuros Medical. He noted, "Chronic pain management remains one of the most critical challenges in modern medicine, and we believe that the Altius has the potential to drastically improve amputees' quality of life. Partnering with Neuros Medical to bring this therapy to the market is something we are proud of."
Future Implications for Pain Management
The medical landscape for treating post-amputation pain is evolving, and this funding signifies a commitment to pushing boundaries in medical technology. As Neuros Medical increases its operational reach, the potential for greater accessibility to effective pain relief solutions grows, which could transform the lives of many advantageously.
Conclusion
In closing, the $56 million Series D financing led by EQT Life Sciences marks an important milestone not only for Neuros Medical but for all individuals grappling with post-amputation pain. As they prepare to roll out Altius, the hope is to provide relief to those in desperate need of effective and innovative treatment options.
Frequently Asked Questions
What is Altius and how does it work?
Altius is a direct electrical nerve stimulation system designed to treat chronic post-amputation pain through targeted nerve stimulation, which provides on-demand therapy.
Why is the funding important for Neuros Medical?
This funding is crucial as it enables Neuros Medical to scale its commercial operations and expand access to this vital non-opioid therapy for amputees.
What percentage of amputees experience post-amputation pain?
Up to 80% of amputees in the U.S. are affected by post-amputation pain, highlighting the need for effective treatment solutions.
Who is backing the financing for this initiative?
The $56 million financing round was co-led by EQT Life Sciences and the LSP 7 fund.
What are non-opioid treatment options?
Non-opioid treatment options refer to various therapies that do not involve opioids and aim to relieve pain without the risk of addiction.
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