Federal regulators have given Neuros Medical Inc. permission to test its technology on 130 patients suffering from chronic amputation pain. The Willoughby company has received an Investigational Device Exemption from the U.S. Food and Drug Administration that will allow it to implant those patients with its Altius System, which is designed to block nerves that cause chronic pain.
If the study suggests that the Altius System is safe and effective, it could help Neuros receive FDA permission to market the technology, according to a news release from the company. Before starting the trial, however, Neuros will need more money. The company aims to close on an estimated $14 million in new capital within a few months, CEO Jon Snyder toldCrain’s.
Smaller trials suggest that Neuros’ technology has promise. The company has tested it on about 15 patients who had chronic pain after losing a limb. Many of them reported that the treatment eliminated all or almost all of their pain.