Nerivio Migra

2022: Release of a new version for which $45 million was raised

In late August 2022, Theranica announced serial sales of an updated shoulder-worn migraine treatment device. For the wide commercial implementation of the project, the manufacturer attracted $45 million in investments.

The Series C round was led by New Rhein Healthcare Investors with input from existing investors aMoon, Lightspeed Venture Partners, LionBird, Takoa Invest and Corundum Open Innovation.

Shoulder-worn device for migraine treatment released

The startup expects even more investors to arrive and, accordingly, extended the round's closing date until October 2022. After that, all funds of the round will go to expand Theranica's commercial coverage in the United States, the press release said.

Led by Alon Ironi, CEO, and Dr. Shimon Eckhaus, Chairman of the Board and Co-Founder, Theranica is a digital therapy company dedicated to creating effective, safe, affordable, and side-effect-free therapies for idiopathic pain conditions. The company offers a wearable device to treat episodic and chronic migraines in people aged 12 and over.

The Nerivio system centers around a bracelet that straps to the top of the arm. From there, the system sends electrical impulses to stimulate the nervous system through the peripheral nerves. The impulses are directed to the area of the brain responsible for pain regulation in order to interrupt pain signals to relieve migraine symptoms.

The system is controlled through an application downloaded to the user's smartphone. In it, the user can start, pause and terminate neurostimulation procedures, monitor the intensity of each 45-minute session and track symptoms. All this data, in turn, can be transferred to the user's medical professionals through the application.

According to Theranica, a prescription-only neuromodulation bracelet has proven in numerous studies and clinical trials the ability to relieve migraine pain comparable to standard pharmacological remedies.

An analysis of more than 23,000 procedures using Nerivio - the results of which were published earlier in 2022 - showed that in about a third of people with episodic migraines and just over 20% of people with chronic migraines, the pain completely disappeared within two hours of the neurostimulation procedure. At the same time, about two-thirds of patients from the entire group experienced sustained pain relief after a two-hour procedure.^[1]

2019: Sales kick-off

In late May 2019, Theranica Bio-Electronics announced the sale of the Nerivio Migra Acute Migraine Pain Device. This permission allowed the manufacturer to start implementing the device.

The creators of Nerivio Migra call this product the first in their class. It is worn on the shoulder and controlled using a smartphone.

Nerivio Migra - Acute Migraine Pain Relief Device

When a migraine begins, a person activates the gadget through a mobile application. He sends electrical impulses to the nerves under the skin and blocks pain signals using endogenous mechanisms to suppress pain in distant parts of the body.

64% volunteers who took part in testing the device felt a weakening of the headache after 20 minutes. Moreover, in 58% of participants with severe pain, unpleasant sensations halved, or even disappeared altogether. The effect persisted for two hours. Among the volunteers who experienced the dummy gadget, only 26% felt relief. Now the inventors are embarking on large-scale testing.

Nerivio Migra contains a computer chip, battery and rubber electrodes. The system provides for several modes of electrical stimulation, which the patient can adjust through a smartphone program.

Theranica claims that the effect of Nerivio Migra is similar to that of modern analgesics, but for some patients a portable device for electrical stimulation may be more convenient and cheaper (by the end of May 2019, the cost of Nerivio Migra has not been named). In addition, unlike analogues, the new device can be used anywhere.

Stephen Silberstein, director of the Headache Center at Jefferson University Hospital in Philadelphia, says that most modern medicines for acute migraine often lead to the development of chronic disease.^[2]

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