Theranica, an Israeli prescription digital therapeutics developer centered on migraine care, introduced at this time 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 Series B round of funding in 2019 and a $6 million Series A in 2017. Theranica mentioned it should prolong its Sequence C spherical of financing, with a last 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 system’s depth, monitor remedy length, and pause or cease the system. It additionally serves as a “migraine diary” that may be shared with healthcare suppliers.
Theranica plans to make use of the capital from the Sequence C to develop its presence within the U.S.
“Over the past couple of years, we now have 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 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 massive potential of Nerivio within the U.S.,” Alon Ironi, CEO of Theranica, mentioned in a press release.
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 similar to work or college.
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 Series A funding in 2020.
Singapore-based Healint additionally makes an app, known as Migraine Buddy, to trace triggers in addition to which remedies 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 growing digital therapeutics. Akili, which makes an FDA-cleared video game-like therapeutic for youngsters with ADHD, went public final week. Swing Therapeutics raised $10.5 million earlier this yr to check its smartphone-administered therapeutic for fibromyalgia, which causes widespread musculoskeletal ache in addition to fatigue, sleep, reminiscence and temper issues.