People who suffer from chronic pain could someday toss their painkillers into the garbage. For good.
Neuros Medical is developing a device that uses an electrode to deliver high-frequency stimulation to sensory nerves in the peripheral nervous system. Basically, pain signals in the spine just won't make it to the brain.
The Willoughby-based company was founded in 2008 using technology invented by two Case Western Reserve University doctors.
Jon Snyder, founder and CEO of Neuros Medical, says Northeast Ohio has become an international hub for researching — and producing — neurostimulation devices.
"There's a great amount of this type of technology being discovered and refined here, especially with institutions in the area like the Cleveland Clinic, University Hospitals, Case Western and the Functional Electrical Stimulation Center," Snyder says. "This region is very well-known for uncovering new uses for neurostimulation."
Neuros Medical is currently in the product-development stage, but the company's pace is moving quickly. Human studies are expected this year.
Investors have taken notice — to the tune of $1.8 million so far. That includes support from JumpStart ($275,000), North Coast Angel Fund ($200,000) and Ohio TechAngels ($200,000).
"In Ohio, we've got some great support organizations, to help companies get through their early stages of development," he says.
Neuros Medical employs three people, not including consultants that are hired regionally. Within the next few years, Snyder expects to have a product on the market — which will add even more jobs. However, the company could add as many as six positions within one year. "Maybe even more," he adds.
Source: Jon Snyder, Neuros Medical
Writer: Colin McEwen