Trinity Capital announced it committed up to $50 million in growth funding to neurostimulation technology developer Nalu Medical.
Carlsbad, California–based Nalu offers spinal cord stimulation and peripheral nerve stimulation (PNS) technology. It designed its offerings to treat patients with chronic neuropathic pain. It delivers gentle electrical pulses to the nervous system to modulate pain signals before they reach the brain.
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“We are proud to partner with and support Nalu as they advance the care of patients with chronic neuropathic pain,” said Rob Lake, senior managing director of Life Sciences at Trinity Capital. “We believe Nalu is a leader in PNS and is reshaping the pain management landscape through their innovative technology and robust clinical data.”
The Nalu system includes a fully featured, battery-free, miniaturized implantable pulse generator (IPG). An externally worn therapy disc wirelessly powers the IPG and the user can control it through a smartphone-based app. The company says its IPG, despite its smaller size, delivers treatment capabilities similar to larger IPGs. Nalu’s system also has an expected service life of 18 years.
Earlier this year, the company received FDA clearance for expanded labeling of its peripheral nerve system to include whole-body MRI use.
“We welcome Trinity Capital as a financing partner and appreciate their confidence in providing us this important financial flexibility as we continue our commercial expansion of our newly launched, next-generation Therapy Disc, and build upon our recent publication of what we believe is the largest long-term real-world data set for a permanent PNS device that demonstrated reliable long-term pain relief to a broad spectrum of patients,” said Tom West, president and CEO of Nalu.
