Neuros Medical Secures $56M to Bring Breakthrough Non-Opioid Pain Therapy to U.S.

Neuros Medical, the company behind the Altius® Direct Electrical Nerve Stimulation System, has raised $56 million in an oversubscribed Series D financing round. The company plans to use the capital to scale the commercial rollout of its FDA-approved, non-opioid device, designed specifically to treat chronic post-amputation pain—a condition that affects up to 80% of amputees in the U.S. 

The funding round was led by EQT Life Sciences and included strong participation from existing investors such as US Venture Partners, Amzak Health, Osage University Partners, Sectoral Asset Management, Aperture Venture Partners, and others. 

“I would like to thank our new and existing investors for their support in our mission to relieve pain and restore life for the millions of people suffering from chronic post-amputation pain,” said David Veino, President & CEO, Neuros Medical, in a statement. “This funding round is a strong validation of the unmet medical need in the amputee community and allows us to scale our commercial operations to expand access to this breakthrough technology, while equipping healthcare professionals with a non-opioid solution and support they need to deliver the highest standard of care.” 

Post-amputation pain—often misunderstood and historically underserved—affects nearly two million people in the U.S., with 300,000 new amputations occurring annually. Existing treatments are typically limited to medications such as opioids or gabapentinoids, which can be inadequate or carry substantial risk. Neuros Medical’s Altius® system offers a fundamentally different approach. 

Tackling Pain at the Source 

Rather than masking symptoms, the Altius® System addresses the source of the pain by inhibiting the transmission of pain signals from damaged nerves near the amputation site. The device includes a nerve cuff electrode implanted around an affected nerve and a pulse generator. The system is patient-controlled allowing users to initiate 30-minute stimulation sessions on-demand, delivering targeted relief precisely when needed. 

It is currently the only FDA-approved device offering amputees this kind of non-opioid, nerve-targeting treatment for both phantom limb and residual limb pain. 

“Neuros Medical is addressing one of the most urgent and overlooked challenges in chronic pain management,” said Fouad Azzam, Ph.D., Partner in the EQT Life Sciences advisory team. “EQT believes Altius has the potential to significantly improve the quality of life for amputees, and we are proud to partner with this team to bring the therapy to market.” 

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The enthusiasm from investors signals confidence not only in the technology but in the growing demand for alternatives to opioids in pain management. With the U.S. healthcare system under pressure to find safer, more effective ways to treat chronic conditions, Altius arrives at a critical moment. 

Neuros Medical’s mission—”to reduce pain and restore life”—reflects a commitment not just to innovation, but to addressing a deeply human problem with tools that empower both patients and physicians. With this new infusion of capital and backing from both new and long-time partners, the company is set to enter a new chapter—one that could shift how post-amputation pain is understood and treated across the country. 

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