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Neuraxis, Inc. has developed an original neurostimulation technology called PENFS to treat pain in children. The IB-Stim device with PENFS technology sends electrical impulses to a specific part of the brain through nerve endings on the ears, reducing the intensity of unpleasant sensations.
IB-Stim has already received FDA approval for reducing pain and nausea symptoms in adolescents aged 11-18 with irritable bowel syndrome. IB-Stim devices are successfully sold in 50 hospitals, and Neuraxis is conducting marketing campaigns in another 260.
Currently, research is also being conducted on the potential of PENFS to alleviate symptoms after concussion, chemotherapy, and cyclic vomiting syndrome.
Neuraxis estimates the total addressable market for its pediatric segment development to be over $9 billion. The demand for alternative therapies is high because current pain relief methods have dangerous side effects, including addiction, obesity, and mental disorders.
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Number of employees: 15-25 Headquarters location: Indianapolis, Indiana, USA.
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