NeurAxis

NeurAxis, Inc. is a medical technology company focused on developing neuromodulation therapies to address chronic and debilitating conditions in children and adults. The company's proprietary technology, IB-Stim, is a percutaneous electrical nerve field stimulation (PENFS) system that sends gentle electrical impulses through electrodes to the branches of the peripheral cranial nerve located just under the skin. IB-Stim is FDA-cleared for functional abdominal pain associated with irritable bowel syndrome (IBS) in adolescents aged 11-18 years.

NeurAxis' IB-Stim technology works by targeting brain areas that process pain, thereby helping reduce functional abdominal pain associated with IBS. The company has sold its product to over 50 children's hospitals across the US. In November 2023, NeurAxis secured USD 3 million in financing through a preferred stock offering to fund additional sales and marketing resources for its commercialization efforts.

NeurAxis is also developing an innovative rectal expulsion device (RED) for the identification of evacuation disorders such as constipation, which is expected to be commercialized in 2024. The company reported revenue of USD 2.5 million in fiscal year 2023. In August 2023, NeurAxis completed an initial public offering, raising approximately USD 6.6 million to support its growth strategies. In June 2024, the company submitted a 510(k) application to the FDA to expand the IB-Stim label to include ages 8-21 and allow for marketing of four devices per prescription.