Neuros Medical Inc., a medical device company developing innovative high-frequency nerve block technology for patients with intractable post-amputation pain, has closed 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.
The financing provides Neuros with capital to complete enrollment of the pivotal QUEST (High-FreQUEncy Nerve Block for PoST-Amputation Pain) study, and to submit an anticipated application for Pre-Market Approval. QUEST is a 180-subject, randomized, double blinded, active sham controlled clinical trial that is being conducted under an Investigational Device Exemption (IDE). QUEST is designed to assess the safety & effectiveness of the Company's Altius® High-Frequency Nerve Block system to treat intractable post-amputation pain.