Theranica, an Israeli prescription digital therapeutics developer centered on migraine care, introduced at the moment that it has scored $45 million in Sequence C funding.
The spherical was led by New Rhein Healthcare Traders with participation from aMoon, Lightspeed Enterprise Companions, LionBird, Takoa Make investments and Corundum Open Innovation.
The startup introduced a $35 million Sequence B spherical of funding in 2019 and a $6 million Sequence A in 2017. Theranica stated it should lengthen its Sequence C spherical of financing, with a last shut deliberate for October.
WHAT THEY DO
The corporate presents Nerivio, a tool worn on the arm that delivers low power 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 machine’s depth, monitor therapy period, and pause or cease the machine. 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 develop its use to folks with persistent migraines and adolescents.
Theranica plans to make use of the capital from the Sequence C to develop its presence within the U.S.
“During the last couple of years, we’ve verified the three elementary situations of a profitable new prescribed remedy within the U.S.: healthcare suppliers believe in prescribing our Nerivio for treating migraine, sufferers get important scientific profit from utilizing it and payers understand the significance of offering their insured members with entry to this remedy. With this triad demonstrated, we would have liked the suitable funding to unleash the massive potential of Nerivio within the U.S.,” Alon Ironi, CEO of Theranica, stated in a press release.
MARKET SNAPSHOT
Migraines are comparatively widespread, affecting about 12% of the U.S. inhabitants. They’re extra prevalent in ladies and will be disabling, with some victims reporting extreme impairment in actions comparable to work or faculty.
One other digital well being firm within the migraine area is German startup Perfood, which focuses on customized vitamin suggestions to stop migraines. The corporate raised €5 million in Sequence A funding in 2020.
Singapore-based Healint additionally makes an app, referred to as Migraine Buddy, to trace triggers in addition to which therapies are useful. Specialty telehealth firm Thirty Madison presents a migraine-focused product referred to 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 growing 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.
