EQT Life Sciences has co-led a $56 million Series D financing round for Neuros Medical, Inc., a U.S.-based medical device company developing breakthrough treatments for chronic post-amputation pain. The oversubscribed round, conducted alongside the LSP 7 fund and EQT Health Economics strategy, will support the commercialization of Altius®, an FDA-approved direct electrical nerve stimulation system designed to treat chronic, intractable post-amputation pain in adult amputees.
Addressing a Critical Unmet Medical Need
Post-amputation pain represents a severely underserved indication, affecting up to 80% of amputees in the United States. The condition has few effective non-opioid treatment options available, creating a significant gap in pain management for this vulnerable patient population. The Altius® system addresses this unmet need by delivering targeted nerve stimulation through a patient-controlled, on-demand therapy approach.
According to the company, Altius® is currently the only FDA-approved solution specifically designed for post-amputation pain management. This regulatory milestone positions the device as a unique therapeutic option in a market with limited alternatives for patients seeking non-opioid pain relief.
Commercial Expansion Strategy
The proceeds from the Series D financing will be used to support U.S. commercialization efforts for Altius®. David Veino, President and CEO of Neuros Medical, emphasized the funding's role in scaling commercial operations: "This funding enables us to scale our commercial operations and expand access to a breakthrough non-opioid treatment for a highly underserved patient population. We are grateful for the support from EQT and our syndicate partners as we continue our mission to relieve pain and restore life for amputees."
The investment represents a significant milestone for Neuros Medical as it transitions from regulatory approval to market deployment of its innovative pain management technology.
Investor Perspective on Market Opportunity
Fouad Azzam, Ph.D., Partner in the EQT Life Sciences advisory team, highlighted the clinical significance of the investment: "Neuros Medical is addressing one of the most urgent and overlooked challenges in chronic pain management. EQT believes Altius has the potential to significantly improve the quality of life for amputees, and we are proud to partner with this team to bring the therapy to market."
The oversubscribed nature of the financing round indicates strong investor confidence in both the technology and the market opportunity for post-amputation pain management solutions. EQT's involvement through both its LSP 7 fund and Health Economics strategy demonstrates a comprehensive approach to supporting the company's commercial objectives.
