Theranica secures $45 million to expand wearable migraine treatment device in US
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Digital therapeutics company Theranica announced it has received $45 million in investor funding, which the company will use to finance commercial expansion of its prescription migraine treatment device, Nerivio.
According to a company press release, Nerivio is an FDA-cleared, smartphone-controlled, drug-free wearable device for the treatment of episodic and chronic migraine in people aged 12 years and older. The device, worn on the upper arm at migraine onset, alleviates headache and associated symptoms via remote electrical neuromodulation, which triggers an endogenous analgesic mechanism known as conditioned pain modulation.
“Health care providers have confidence in prescribing our Nerivio for treating migraine, patients get significant clinical benefit from using it and [companies] realize the importance of providing their insured members with access to this therapy,” Theranica CEO Alon Ironi, said in the release. “With this triad demonstrated, we needed the appropriate funding to unleash the huge potential of Nerivio in the United States.”
Multiple clinical trials and real-world evidence studies have shown Nerivio is comparable to usual care pharmacological options and could be used in combination with existing therapies, the company said..