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.