Dr. Peter Staats, Chief Medical Officer at National Spine and Pain, Joins the Neuralace Medical Advisory Board as the Company Continues its Successful Seed Round Fundraising, Building Off the First Close of $3.1M While Targeting a Total Capital Raise of $5M-$7M

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May 25, 2023, 07:00 ET

In addition, the Charlie Norwood VAMC in Augusta, GA Recognizes its Pain Clinic for Spearheading First Use of the Axon Therapy Within the VA Health System

SAN DIEGO, May 25, 2023 /PRNewswire/ -- Neuralace Medical, Inc., a leading medical technology company specializing in innovative non-invasive solutions for the treatment of chronic peripheral neuropathic pain, is pleased to welcome Dr. Peter Staats, Chief Medical Officer at National Spine and Pain Centers, based in Frederick, MD., to the Neuralace Medical Advisory Board. Dr. Staats brings extensive expertise to the company and will collaborate with the advisory board and Neuralace Medical to contribute valuable insights and strategic guidance. He expressed his enthusiasm for Axon Therapy, stating, "I have seen Axon Therapy progress from an interesting project several years ago, to what is now an FDA cleared, clinically impactful treatment. Axon Therapy is an excellent complement to conventional, implantable neuromodulation, bringing the benefits of neurostimulation to many more patients. I look forward to working alongside Drs. Sayed (KU Medical Center), Kapural (Carolina Pain Institute), and Bedder (VAMC Augusta) to support the market entry of this much-needed non-invasive approach."

Validation of Axon Therapy's Efficacy by Charlie Norwood VAMC

Neuralace Medical is thrilled to share the recent publication by Charlie Norwood VA Medical Center, which highlights the pioneering work conducted by its Pain Clinic team in adopting Axon therapy for the treatment of peripheral neuropathic pain (PNS). This milestone establishes Charlie Norwood VA Medical Center as the first VA Medical Center to incorporate Axon Therapy into its treatment regimen. The publication underscores the significant pain relief achieved by Axon Therapy, which has been proven to reduce the need for invasive procedures and decrease opioid usage for a substantial number of patients. Dr. Marshall Bedder, who leads the Pain Clinic team at Charlie Norwood VA Medical Center and serves as an Associate Professor and Director of the Addiction Medicine Fellowship Program at the Medical College of Georgia at Augusta University, was quoted in the VA article as saying "Some of our veterans have only needed to be treated a couple of times and have seen such durable results that they haven't needed further treatment." The publication can be accessed here.

This validation from the esteemed Charlie Norwood VA in Augusta further solidifies Axon Therapy as a transformative treatment option. Axon Therapy is currently undergoing evaluation at other VA and Department of Defense treatment facilities across the United States.

Keith Warner, CEO of Neuralace Medical, expressed his confidence in the company's continued progress, stating, "Our ongoing clinical and commercial advancements will establish Neuralace Medical as a pioneering force in non-invasive neuromodulation for peripheral neuropathic pain. We are committed to improving patient outcomes, fostering collaboration with renowned institutions, and driving innovation in the field of pain management. Congratulations to my team; you should be proud of the impact you are making. I am grateful to be part of this remarkable team that has brought significant relief to many veterans, with many more to come."

About Neuralace Medical
Neuralace Medical is a commercial stage medical device company focused on the treatment of chronic neuropathic pain with its proprietary magnetic peripheral nerve stimulation (mPNS™) technology. Supported by mPNS, the company's FDA 510(k) cleared Axon treatment device is a transcutaneous magnetic stimulation device providing non-invasive, rapid, effective treatment for chronic neuropathic pain. Foundational to Axon Therapy is the belief that clinically effective, non-invasive and easy to administer therapies with no side effects should be used alongside, or to decrease, prescription drug use, and ahead of all other traditionally recommended invasive or minimally invasive therapies. With its unique patent protected product portfolio, Neuralace Medical is well positioned to establish a leadership position in the chronic neuropathic pain market. For more information, please visit www.neuralacemedical.com.

Contact: Mike Houlihan at [email protected]
(760-845-6983)

SOURCE Neuralace Medical, Inc.