Theranica announced OMRON VENTURES has joined its $35 million series B funding round. OMRON VENTURES has committed to providing key insight and support to Theranica as the remote electrical neuromodulation startup continues to develop its unique approach to acute treatment of migraine.
Theranica’s series B funding round announced two months ago was led by aMoon, and included all previous investors of the company – Lightspeed Venture Partners, LionBird, Corundum Open Innovation and Takoa.
The new funds will allow Theranica to mass produce its product, Nerivio Migra®, the company’s remote electrical neuromodulation device for acute treatment of migraine, and, subject to FDA clearance, to launch the product, initially in the USA.
“Being the world’s leading manufacturer and distributor of personal health and wellness products, we are excited to partner with a company that shares OMRON HEALTHCARE’s mission of improving people’s health at home through science and technology,” said Tomoko Inoue, CEO of OMRON VENTURES.
“Theranica’s forward-thinking approach of investing in science, building strong physician-community relationships and developing health products that center around the patients and their ability to improve their own well-being is the right model for today and the future.”
Theranica is a medical device company that combines advanced neuromodulation therapy with modern wireless technology to develop proprietary electroceuticals that address prevalent medical conditions and diseases. The company’s first low-cost, low side effect wearable, the Nerivio Migra addresses migraines and is currently under review of the FDA.
“OMRON is a pioneer in innovative home medical equipment and therapeutic devices, and the recognition and commitment expressed by the decision of Ms. Inoue and her team to make this strategic investment is highly valued and appreciated by Theranica,” said Alon Ironi, CEO and co-founder of Theranica.
“OMRON HEALTHCARE has been a champion in enabling consumers to improve their health using convenient, affordable, easy to use health products. Aside from the financial resources OMRON VENTURES is committing to Theranica, we look forward to learning from such a healthcare market leader.”
Source: Company Press Release