Theranica Announces the Closing of Seed Funding Round and Reports Promising Clinical Results in Acute Migraine Study Using its Proprietary Wearable Technology

NETANYA, Israel, September 20, 2016 /PRNewswire/ --

Theranica Bio-Electronics, a newly established medical device company offering a 'smart' patch that delivers neuromodulation therapy, announced the closing of its seed financing round from a group of top angel investors, led by the renowned entrepreneur and investor Dr. Shimon Eckhouse. Dr. Eckhouse will be serving as Chairman of the company.

"Theranica has developed a new breed of medical devices that leverages modern technology advancements and recent clinical discoveries," says Alon Ironi, CEO and co-founder of the company. "Our mission is to create innovative, yet affordable devices for the treatment and management of various medical conditions that offer superior efficacy, safety, and usability compared to drug-based medications or other existing treatment options."

The company's first product, Nerivio Migra, addresses the widespread problem of migraine headaches by providing neuromodulation therapy through a non-invasive, wearable, and disposable 'smart' patch. The product can be used at the onset of a migraine attack to provide rapid and significant pain relief, often times completely eliminating all pain.

"We are in the midst of a paradigm shift in the medical world where patients are increasingly seeking non-pharmaceutical solutions to their diseases, especially those that can be applied at home without disrupting their daily routines," says Dr. Eckhouse. "Leading pharmaceutical companies are responding to this trend as more R&D investment is dedicated to patient-friendly medical devices that complement their existing drug offering. Theranica is perfectly positioned to address this large unmet need through its proprietary wearable technology."

Earlier this year, Professor David Yarnitsky, Professor of Neurology at the Technion Faculty of Medicine, Chief Editor of the PAIN Reports journal and first member of the Theranica Medical Advisory Board, presented results from an initial clinical study on the Nerivio Migra device at the World Institute of Pain Conference in New York. The study, which included 86 patients who used the first generation Nerivio Migra device, showed extremely promising results in terms of clinical efficacy and safety. The study took place at the Rambam Medical Center in Israel and was led by Professor Yarnitsky.

Recently, the company has expanded its Medical Advisory Board to include two additional world renowned neurologists, Dr. Stephen Silberstein and Dr. Charles Argoff. Dr. Silberstein is Professor of Neurology and Director of the Jefferson Headache Center at Thomas Jefferson University as well as the former president of the American Headache Society. Dr. Argoff is Professor of Neurology at the Albany Medical College, Director of the Comprehensive Pain Center at the Albany Medical Center, President of the American Academy of Pain Medicine Foundation, and Co-Editor of the Neuropathic Pain Section of Pain Medicine.

"Today, the most common remedy for migraine headaches is medication," says Dr. Silberstein. "Often the more effective the medication, the more significant the potential side effects, which is why many medications are not recommended for certain patient segments, such as children and pregnant women. Theranica's solution is safe, easy to use, and shows promising initial clinical results. It has the potential to dramatically change the way patients manage their migraines by allowing them to take back control of their daily routines."

Dr. Argoff adds, "Because it is a safe, drug-free solution, the Theranica device may also appeal to those patients who regularly take preventive medications (or preventive devices) - whenever they encounter a migraine episode."

About Theranica: Theranica is a medical device company that has combined neuromodulation therapy with modern wireless technology to develop proprietary wearable solutions that address various medical conditions and disease states. The noninvasive and therapeutic 'smart' patches are controlled by a smartphone app to allow for personalized, portable, and affordable care. The patch consists of a proprietary 'smart' chip that delivers electrical pulses to neuro-modulate the sensory nerves under the skin. The first application of the technology is for treatment of migraine headaches.  

Theranica will be presenting at the upcoming IASP 2016 conference, the premier conference devoted to pain research and treatment, from September 26^th to the 30^th.
To schedule a meeting, contact us at [email protected]. For more information on Theranica's technology and solutions, please visit http://www.theranica.com.

Investigational Device. Limited by US Federal Law to Investigational Use Only in the United States.
Exclusively for Clinical Investigation. 

MEDIA CONTACT:
Ronen Jashek
+972-72-3909750
[email protected]

SOURCE Theranica Bio-Electronics