Dublin-based Mainstay Medical touted the launch of a new clinical trial evaluating its ReActiv8 implantable neurostimulator at 3 clinical sites in Australia.
Mainstay will evaluate treatment of chronic low back pain in adults with its ReActiv8 system, which sends electrical pulses along implanted electrodes to relax muscles, improve control, relieve pain and help foster recovery in patients who are not good candidates for back surgery.
"Our novel approach of electrical stimulation to help restore the muscle control system is based on published scientific research, and the performance of the therapy was demonstrated in the recently completed European Feasibility Study," Mainstay CEO Peter Crosby said in prepared remarks. "The energy and experience of the Mainstay Medical team has enabled us to complete the development of our innovative, therapy-specific device and obtain approval to start the ReActiv8 clinical trial within a year after the Feasibility Study results."
Mainstay Medical was once a Minnesota company, but moved its headquarters to Ireland in 2012 after raising $22 million in funding in a Series B round. Investors include Medtronic (NYSE:MDT), Capricorn Venture Partners and Seventure Partners.