Minnesota-based therapeutic device startup Synerfuse secured $2.64M in equity financing from an undisclosed angel investor, last month.
This is the first round of venture funding for this Gener8tor alumnus.
The funds will be used to support the first clinical trial of their long-term pain management system. This first phase is scheduled to begin this summer with 20 patients and is expected to run for one year. Should the trial prove successful, Synerfuse will pursue larger scale clinical studies of their device as required for commercialization.
Synerfuse’s goal is to provide a better option for those suffering from chronic back pain. Their solution incorporates two approaches – fusion surgery and the implantation of a neuromodulation device – each of which are conventionally applied as separate treatments that are implemented at different times, into one complete system.
According to the company’s website, Synerfuse is “creating a new future of superior pain management with a patented therapy that uniquely integrates spinal fusion hardware, an active neuromodulation system, and sensors in a novel “smart” device that offers simplicity and efficiency during implantation.”
Both spinal fusion and neuromodulation therapy have already been individually tested and approved by the FDA. However, there are different types of pain and each treatment addresses only one underlying mechanism. Consequently, patients often continue to suffer from the unaddressed cause of their pain necessitating further intervention later. Patients experiencing persistent pain post-treatment often become reliant on opioids for relief.
The company suggests that through their combined approach “patients will receive synergistic and more robust pain relief than either therapy could provide alone.” Furthermore, the incorporation of sensors will allow the physician to optimize the system for the patient thereby improving its effectiveness. This novel approach is designed to not only reduce the incidence of residual pain but also any subsequent need for opioids.
The company’s Founder and Director, Dr. Nazmi Peyman, has over two decades of experience in clinical pain management, with special emphasis on treating neck and back pain using spinal injection techniques, radiofrequency ablation, and electrical neuromodulation. He is affiliated with numerous professional organizations, including the Spine Intervention Society and the American Society of Interventional Pain Physicians. He presently sits on the Board of Directors for Synerfuse which his co-founders, Justin Zenanko, a Certified Public Accountant and current CEO, and Dr. Gregory Molinar, a neuroscientist, neuromodulation expert, and current CSO, manage. Synerfuse was founded in 2015.
According to Dr. Peyman in a recent press release, “The future is bright for our modulation-based pain management solution, and this is good news for patients, surgeons, payers and alike.”
Visit www.synerfuse.com to learn more about this company.