An Israeli migraine treatment device company, Theranica, one of the portfolio companies of Corundum Innovation Fund which has been operated by Corundum Open Innovation Ltd. as its General Partner, raised＄45 million in the first closing of Series C financing round. Due to high investor interest, the company has extended the financing round, planning a final closing in October.
Theranica is an advanced medical technology company which developed Nerivio®, the FDA cleared, wearable therapeutic patch for the treatment of migraine. The device is controlled by intuitive smartphone applications which enables the therapy treatment to adapt to our lifestyle of today and thus offers an effective, personal, non-invasive and disposable product. By just wearing this clinically-tested patch to the arm without placing electrodes and other cumbersome devices on the head, a personalized program for pain relief launches.
Starting with the news that Costco Wholesale Corporation added Nerivio® to its Member Prescription Program in June 2022, Theranica will move forward to expand its commercial activity in the US market with the huge potential of the device.
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