Theranica, an Israeli prescription digital therapeutics developer centered on migraine care, introduced as we speak that it has scored $45 million in Sequence C funding.
The spherical was led by New Rhein Healthcare Buyers with participation from aMoon, Lightspeed Enterprise Companions, LionBird, Takoa Make investments and Corundum Open Innovation.
The startup introduced a $35 million Series B round of funding in 2019 and a $6 million Series A in 2017. Theranica stated it is going to prolong its Sequence C spherical of financing, with a closing shut deliberate for October.
WHAT THEY DO
The corporate provides Nerivio, a tool worn on the arm that delivers low vitality electrical pulses and pairs with a smartphone app. The wearable is worn for 45 minutes on the onset of a migraine and goals to set off a conditioned ache modulation response to alleviate signs. The app can management the gadget’s depth, monitor remedy length, and pause or cease the gadget. It additionally serves as a “migraine diary” that may be shared with healthcare suppliers.
Nerivio obtained FDA De Novo clearance in 2019, and later obtained inexperienced lights from the company to increase its use to people with chronic migraines and adolescents.
Theranica plans to make use of the capital from the Sequence C to increase its presence within the U.S.
“Over the past couple of years, we’ve got verified the three elementary situations of a profitable new prescribed remedy within the U.S.: healthcare suppliers trust in prescribing our Nerivio for treating migraine, sufferers get significant clinical benefit from utilizing it and payers understand the significance of offering their insured members with entry to this remedy. With this triad demonstrated, we wanted the suitable funding to unleash the large potential of Nerivio within the U.S.,” Alon Ironi, CEO of Theranica, stated in a press release.
MARKET SNAPSHOT
Migraines are comparatively frequent, affecting about 12% of the U.S. population. They’re extra prevalent in girls and can be disabling, with some victims reporting extreme impairment in actions comparable to work or faculty.
One other digital well being firm within the migraine house is German startup Perfood, which focuses on customized vitamin suggestions to forestall migraines. The corporate raised €5 million in Series A funding in 2020.
Singapore-based Healint additionally makes an app, known as Migraine Buddy, to trace triggers in addition to which therapies are useful. Specialty telehealth firm Thirty Madison provides a migraine-focused product known as Cove, the place customers can seek the advice of with suppliers and obtain prescriptions.
In the meantime, there are a number of startups centered on creating digital therapeutics. Akili, which makes an FDA-cleared video game-like therapeutic for kids with ADHD, went public final week. Swing Therapeutics raised $10.5 million earlier this 12 months to check its smartphone-administered therapeutic for fibromyalgia, which causes widespread musculoskeletal ache in addition to fatigue, sleep, reminiscence and temper issues.
