Newly-formed med device company Theranica Bio-Electronics said today it closed a seed financing round led by Dr. Shimon Eckhouse and joined by a group of angel investors. The company did not release the amount raised in the round.
Israel-based Theranica is developing the Nerivio Migra, a disposable neuromodulation patch designed to treat migraine headaches.
“Theranica has developed a new breed of medical devices that leverages modern technology advancements and recent clinical discoveries. Our mission is to create innovative, yet affordable devices for the treatment and management of various medical conditions that offer superior efficacy, safety, and usability compared to drug-based medications or other existing treatment options,” co-founder & CEO Alon Ironi said in a prepared statement
The “smart” patch is designed to be applied at the onset of a migraine attack, the company said, to provide “rapid and significant pain relief.”
“We are in the midst of a paradigm shift in the medical world where patients are increasingly seeking non-pharmaceutical solutions to their diseases, especially those that can be applied at home without disrupting their daily routines. Leading pharmaceutical companies are responding to this trend as more R&D investment is dedicated to patient-friendly medical devices that complement their existing drug offering. Theranica is perfectly positioned to address this large unmet need through its proprietary wearable technology,” Eckhouse, who will take on the role of board chair at Theranica, said in a press release.
The company touted data from an 86-patient study of the device, saying results from the trial “showed extremely promising results in terms of clinical efficacy and safety.”
“Today, the most common remedy for migraine headaches is medication. Often the more effective the medication, the more significant the potential side effects, which is why many medications are not recommended for certain patient segments, such as children and pregnant women. Theranica’s solution is safe, easy to use, and shows promising initial clinical results. It has the potential to dramatically change the way patients manage their migraines by allowing them to take back control of their daily routines,” newly appointed medical advisory board member Dr. Stephen Silberstein of Thomas Jefferson University said in prepared remarks.