#USA #Los Angeles #Nervonik #Chronic Pain #PNS Technology

Nervonik Secures $13 Million Series A Funding

In a significant leap towards revolutionizing chronic pain management, Nervonik, Inc. has announced the successful closure of its $13 million Series A financing. This funding round, spearheaded by U.S. Venture Partners (USVP) alongside contributions from Foothill Ventures, Correlation Ventures, and other esteemed investors, marks a pivotal moment for the Los Angeles-based medical device company.

Nervonik focuses on developing an opioid-free peripheral nerve stimulation (PNS) system aimed at providing an effective alternative to traditional pain management therapies. The newly acquired funds will be instrumental in advancing the company’s clinical trials, expediting regulatory approvals, and paving the way for commercialization.

This strategic funding follows a previous financial boost of $4.4 million in SAFE and convertible note financing from various investors, including Shangbay Capital, Camford Capital, and Life Science Angels. The combination of these investments underscores a growing confidence in Nervonik’s innovative approach to treating chronic pain—a condition that affects over 50 million individuals in the United States alone.

Nervonik recently completed its first-in-human clinical trial, demonstrating the promising capabilities of its PNS technology. Their solution utilizes a wirelessly powered system that enables minimally invasive procedures and caters to patients seeking personalized pain relief strategies.

CEO and founder Aydin Babakhani, PhD, expressed enthusiasm regarding this funding milestone:

"We are excited to receive this strong support from top institutional investors as we push forward in advancing peripheral nerve stimulation technology. This financing advances our mission to bring a novel solution to millions of people suffering from chronic pain.”

Chronic pain remains a daunting challenge within the healthcare landscape, creating a multibillion-dollar market opportunity for innovative solutions such as Nervonik’s PNS system. The company is committed to leveraging advanced technologies to provide effective, minimally invasive therapies while addressing the growing need for opioid alternatives in pain management.

About Nervonik

Nervonik is a pioneering medical device firm dedicated to developing advanced peripheral nerve stimulation solutions for chronic pain alleviation. By harnessing proprietary wireless power and closed-loop sensing technologies, Nervonik aims to redefine the treatment landscape through patient-centric options. The firm continues to focus on clinical research and regulatory milestones that will enable its novel therapies to reach the market in a timely manner. To learn more about Nervonik and its groundbreaking technologies, visit their website.

About U.S. Venture Partners (USVP)

U.S. Venture Partners is a distinguished venture capital firm based in Silicon Valley, with a history of transforming visionary ideas into successful companies since its inception. Over the past four decades, USVP has backed more than 500 companies including prominent names like Box, Cato Networks, and Yammer. The firm prides itself on focusing on early-stage startups within sectors like healthcare, cybersecurity, and enterprise software, providing essential guidance in strategy, scaling, and product development.

In conclusion, Nervonik's successful financing is not just a victory for the company but also a hopeful harbinger for the millions grappling with chronic pain. It signifies a step towards innovative, opioid-free solutions that can profoundly impact lives, and the countdown to the future of pain management has officially begun.