Theranica, an Israeli medtech startup and prescribed digital therapeutics company that is developing advanced neuromodulation devices for migraine and other idiopathic pain conditions brought in $45 million in a Series C funding round.
Founded in 2016, Theranica says that it brings electrical neuromodulation therapy to a new level. The International Neuromodulation Society (INS) defines therapeutic neuromodulation as “the alteration of nerve activity through targeted delivery of a stimulus, such as electrical stimulation or chemical agents, to specific neurological sites in the body.” In appropriate patients, this growing class of therapies, in common use since the 1980s, can help restore function or relieve symptoms that have a neurological basis.
INS adds that neuromodulation devices stimulate nerves – with pharmaceutical agents, electrical signals, or other forms of energy – by modulating abnormal neural pathway behavior caused by the disease process. Profound effects occur including relief of pain, restoration of function or normal bowel and bladder control, Parkinson’s and tremor control and many more.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at email@example.com.
Theranica’s main product is Nerivio, an FDA-cleared, prescribed, smartphone-controlled, drug-free wearable device for the treatment of episodic and chronic migraines in people aged 12 and older. Uniquely worn on the upper arm at the onset of a migraine attack, the company says that Nerivio alleviates migraine headache and associated symptoms by utilizing remote electrical neuromodulation to trigger an endogenous analgesic mechanism, known as conditioned pain modulation.
“In spite of several decades of new medications, millions of individuals still suffer from frequent debilitating migraine headaches,” said Alon Ironi, CEO of Theranica. “Over the last couple of years, we have verified the three fundamental conditions of a successful new prescribed therapy in the U.S.: healthcare providers have confidence in prescribing our Nerivio for treating migraine, patients get significant clinical benefit from using it, and Payors realize the importance of providing their insured members with access to this therapy. With this triad demonstrated, we needed the appropriate funding to unleash the huge potential of Nerivio in the U.S.”