Nervonik Secures $13 Million for Chronic Pain Tech

Nervonik, a medical device innovator specializing in peripheral nerve stimulation (PNS) systems, announced the closure of a $13 million Series A funding round. This round was spearheaded by U.S. Venture Partners (USVP) with additional input from Foothill Ventures, Correlation Ventures, and other contributing investors. Nervonik's technology offers an opioid-free, minimally invasive solution for chronic pain management, a significant market given that over 50 million Americans suffer from chronic pain. This funding aims to propel Nervonik's clinical studies, secure regulatory approvals, and prepare for market entry. Having recently completed a successful first-in-human clinical trial, Nervonik's CEO, Aydin Babakhani, emphasized the immense potential of their technology to redefine pain relief. With a focus on commercializing its groundbreaking therapy, Nervonik’s strategic partners also include Shangbay Capital, Camford Capital, Joyance Partners, Life Science Angels, and Seraph Group. The firm is poised to challenge traditional pain management methods and capture a share of the multibillion-dollar market.