Medical device firm secures $85M to advance CNS-based chronic pain system
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An Ohio-based medical device company has secured $85 million in financing to advance a pain management system targeting the central nervous system to help those who have undergone surgery or sustained damage from other events or conditions.
According to a release from SPR Therapeutics, the Sprint PNS System aims to recondition the central nervous system to provide significant and sustained relief from chronic pain, without the need for permanent implants, nerve destruction or running the risk of addiction from pain medication.
The system is cleared for use for up to 60 days and can be utilized to address low back and shoulder pain, post-amputation pain as well as chronic and acute post-operative pain. It is not indicated for regions innervated by the cranial and facial nerves, per the release.
“We have seen strong adoption of the Sprint System in the last 2 years, resulting in nearly 200 percent growth of our team,” SPR Therapeutics founder, President and CEO Maria Bennett said in the release.