US-based medical device company Nervonik has secured $52.5m in Series B financing aimed at advancing its peripheral nerve stimulation (PNS) system.
Amzak Health led the funding round, with contributions from Elevage Medical Technologies, US Venture Partners (USVP), Lumira Ventures, Foothill Ventures, and Shangbay Capital.
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The funds will also be used to further develop Nervonik’s sensing technology and support commercialisation efforts for its PNS platform.
Nervonik’s platform combines stimulation and real-time physiological feedback to enable precise therapies for chronic pain and certain neurological conditions.
The company has reported initial success in recording evoked compound action potentials and other biomarkers with its implantable leads, which play a central role in its technology development.
Nervonik CEO and founder Aydin Babakhani said: “Nervonik is building a fundamentally differentiated neuromodulation platform that integrates stimulation with advanced sensing to deliver more precise and personalised therapy.
“This financing enables us to accelerate our clinical programmes, prepare for commercialisation, and bring a truly intelligent, next-generation therapy to the patients who need it most.”
Amzak Health partner Anthony Natale said: “Peripheral nerve stimulation is at an inflection point, with expanding clinical evidence and growing adoption in the treatment of chronic pain.
“Aydin and the Nervonik team have developed a highly differentiated technology platform that we believe has the potential to meaningfully improve the patient experience, and they are exceptionally well-positioned to capitalise on this opportunity.”
Nervonik focuses on developing neuromodulation technologies for chronic pain and neurological disorders.
