PHOENIX, Oct. 31, 2023 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of diversified financial solutions to growth-stage companies, today announced the commitment of $25 million in growth capital to Neuros Medical, Inc., a bioelectric technology company focused on alleviating chronic post-amputation pain and restoring quality of life.
Neuros Medical's Altius System incorporates the company's patented platform technology, On-Demand Bioelectric Nerve Block, which patients initiate as needed for targeted pain relief. The technology blocks sensory nerves and has the potential to alleviate pain in nearly one million Americans with phantom limb and residual limb pain, fulfilling a significant need for patients. This system also has the potential to reduce drug dependency as existing treatment options are primarily limited to opioids and gabapentinoids.
Rob Lake, Senior Managing Director, Life Sciences at Trinity, said, "We are proud to partner with Neuros Medical on their journey to improve the lives of those suffering from chronic post-amputation pain, and we look forward to working with their team to support their continued growth."
The growth capital will enable Neuros Medical to augment the recent equity raised and further scale operations to assist with their commercial launch.
David Veino, President and Chief Executive Officer of Neuros Medical said, "We appreciate the conviction Trinity has in the Neuros mission and our ability to scale commercialization, delivering this life-changing therapy to a large, underserved amputee population in desperate need of pain relief."
About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans and equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth stage companies. For more information, please visit the Company's website at www.trinitycap.com.
About Neuros Medical, Inc.
Neuros Medical, a bioelectric technology company, has developed the Altius system for the treatment of chronic post-amputation pain (Phantom Limb Pain and Residual Limb Pain). Altius incorporates the Company's patented platform technology, On-Demand Bioelectric Nerve Block. Patients initiate a 30-minute Altius treatment session as needed for targeted pain relief.
Neuros' technology delivers a bioelectric signal to sensory nerves in the peripheral nervous system to block the pain signal. The system consists of a nerve cuff electrode (also known as a lead) placed around a peripheral nerve and an implantable pulse generator (IPG).
Chronic pain is characterized as pain lasting more than 3 months in duration. Post-amputation pain includes both phantom limb and residual limb (or "stump") pain, and impacts nearly one million Americans. There are nearly two million amputees in the U.S., with 185,000 new amputations occurring every year. Post-amputation pain represents a significant unmet medical need, as existing treatment options are limited and consist primarily of opioids and gabapentinoids.
For more information, please visit www.neurosmedical.com.
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SOURCE Trinity Capital Inc.
Ben Malcolmson, Director of Investor Relations, Trinity Capital Inc., firstname.lastname@example.org