Neuralace Medical Announces Contract Award Totaling $1.4M Over Five Years With The Department of Veterans Affairs, Augusta, Georgia VA for Treatment of Chronic Neuropathic Pain Using Axon Therapy®

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Jan 09, 2023, 07:15 ET

The Augusta VA Pain Medicine Service will be offering Axon Therapy to Veterans using Neuralace's proprietary magnetic peripheral nerve stimulation (mPNS™) technology. Axon Therapy will enable the pain medicine service to combat pain using a non-invasive, painless modality allowing for customized treatment plans

SAN DIEGO, Jan. 9, 2023 /PRNewswire/ -- Neuralace Medical, Inc., a commercial-stage medical technology company providing innovative, non-invasive solutions for the treatment of chronic neuropathic pain, is announcing the signing of a $1.4M, five year contract with the Department of Veterans Affairs, Augusta, GA VA. Neuralace Medical will be providing the Axon device and consumables needed to treat chronic pain patients with individual 13-minute Axon Therapy treatments as performed by the Augusta VA Pain Medicine Service across a range of conditions causing chronic neuropathic pain.

The proprietary technology supporting Neuralace Medical's FDA cleared Axon device is called mPNS™ which entails the delivery of high intensity magnetic pulses focused specifically on the affected peripheral nerve(s) and selectively stimulates A-Beta fibers while concomitantly providing the signal strength to promote CNS reconditioning. Peripheral reconditioning of the CNS is increasingly accepted as an important part of pain reduction and functional performance improvement.

Keith Warner, CEO of Neuralace Medical, remarked, "We are thrilled to see Axon Therapy enabling the treatment of those who have sacrificed so much for our Nation. This groundbreaking technology will offer our Veterans the chance for durable pain relief using magnetic-pulse driven neurostimulation without side effects and without surgery of any kind". Mr. Warner went on to say, "We are looking forward to working with the Augusta VA on broad-based implementation of Axon Therapy and are most open to a dialogue with other VA facilities regarding Axon Therapy and ways this technology could benefit Veterans".

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 510k 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.