Stimwave Inks $50M for Launch of Chronic Pain Neuromod Device

POMPANO BEACH, Fla.--(BUSINESS WIRE)-- Stimwave LLC, a medical device manufacturer and independent research institute headquartered in Pompano Beach, Fla., has agreed to over $50 million in additional financing from undisclosed investors to fuel the consumer launch of the world’s first wireless, micro-technology, drug-free neuromodulation device for relief of chronic pain.

Stimwave offers the world’s only wireless micro-sized device cleared by the FDA to treat chronic neuropathic pain throughout the body, from back and leg pain addressed by spinal cord stimulation to peripheral nervous system (PNS) treatment for shoulder pain, wrist and elbow pain, knee pain, hip pain and more, allowing more patients to be treated than ever before with a viable, affordable alternative to help fight opioid usage across the country.

Representing a life-changing technological breakthrough for the more than 400 million people worldwide who endure daily chronic pain, the Stimwave Freedom Stimulators are also the smallest neuromodulation devices available, at a volume size of 0.25 cc compared to the next smallest form factors at 25 cc and greater – 100 times the footprint of Stimwave.

As part of the launch, Stimwave will host a consumer event featuring Cory Everson, six-time Ms. Olympia and world-renowned health and wellness advocate, at the First Annual Medical Conference for Recovery, Regeneration, and the Athlete at the Arnold Classic Sports Festival, taking place March 1, 2018 in Columbus, Ohio.

“The key to Stimwave pain management is the ability to allow the pain sufferer to control their pain wherever and whenever they want,” said Laura Tyler Perryman, Stimwave chairman and co-inventor. “Now patients are in control of how to manage their pain opioid free with wearable and wireless iOS devices, including smart phones and watches. Stimwave is mobile and truly personal, fitting seamlessly into consumer’s lifestyles -- whether commuting, playing with kids, or simply relaxing at home. With Stimwave they can take control of their pain.”

The technology, developed by scientists and engineers led by Perryman, uses a tiny injectable microchip device that delivers small pulses of energy to electrodes near surrounding nerves, triggering a reaction that enables the brain to remap specific pain signals, thus providing pain relief.

The Stimwave electroceutical device contains no internal batteries or other toxic materials and can be placed at any peripheral nerve throughout the body or in the spinal column nerve bundles. The Stimwave device is fixed in place by an anchor, so it doesn’t move except with the body’s movement. It naturally stays “in line” with the body’s nerves, allowing a freedom of motion that is impossible with bulkier implanted devices. The Stimwave device is a permanent, long-term implant. The system features the ability to allow the patient to have a whole body 3T or 1.5T MRI without removing the implant, which is unique in the industry.

Please visit www.stimwave.com for more information.

About Stimwave

Stimwave LLC is a privately held medical device company engaged in the development, manufacture, and commercialization of wirelessly powered, injectable, microtechnology neurostimulators, providing patients with a convenient, safe, minimally invasive, and highly cost-effective pain management solution that is easily incorporated into their daily lives. Stimwave’s goal is to evolve its patented, cutting-edge platform into the default for neuromodulation, increasing the accessibility for patients worldwide while lowering the economic impact of pain management.

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