Funding to support new endorphin-stimulation pain therapy clinical trial
Meylan, France, – 14 November 2019 – French startup Remedee Labs announced that following its latest round of Series A financing, it has successfully raised a total of $11 million in funding. The Series A investment, completed in April this year, was led by venture capital firm Hardware Club, with participation from Habert-Dassault Finance, Partech, C4 Ventures, Supernova Invest, plus a selection of private investors.
The 2019 round of funding will support the next phase of clinical testing of Remedee Labs‘ breakthrough endorphin-stimulation pain management solution, and support the company’s continuing medical technology solutions development.
A boost for an electronic medication breakthrough
Remedee Labs has developed the first personal endorphin stimulator using advanced millimeter wave technology for electronic pain management. The solution is based on the company’s patented Microelectronic Endorphin Trigger (MEET) module, the first millimeter-wave emitting module for medical usage.
Following years of intensive research and development, the company has developed a complete new approach to pain relief, by stimulating a person’s own endorphins – recognized as the body’s highly effective natural pain killer – in a safe, fast and simple way. Thanks to the miniaturized MEET module, this advanced technology is integrable into small form-factor wearable devices, making personal healthcare usage of this breakthrough pain therapy possible. The first personal endorphin-stimulation device developed by Remedee Labs is being tested in multiple clinical trials.
The next phase of clinical testing of MEET endorphin stimulation
Following the success of its first innocuity trial in 2017, the Remedee Labs endorphin stimulation solution is now being tested in two new trials into pain management at the CHU Grenoble research hospital. The two new trials address peri-surgical (post heart surgery) pain management and arthritic pain relief.
Furthermore, the company is preparing additional trials into specific pain management, including migraine, improved physiotherapy results, and certain pathologies linked to chronic pain. The first of these trials is expected to start at the beginning of 2020. The full list of clinic trials is available in the annex to this press release.
Remedee Labs, the French asset in medtech
Remedee Labs was founded in December 2016 by three experts in the areas micro and nano medical technologies and biomedical research: Jacques Husser, David Crouzier, Michael Foerster. Located at the heart of France’s medtech ecosystem, the company has partnered with leading scientific and technology organizations, including French technology research institute CEA-Leti, its specialized medical technology center Clinatec, plus STMicroelectronics.
Until now Remedee Labs has been intentionally quiet outside of its close ecosystem, focusing on research and development to ensure the scientific viability of its new pain therapy. Today’s announcement is linked to the new acceleration phase of the company’s clinical testing. It also coincides with a tipping point in the global health market; faced with the backdrop of the global opioid crisis, the medical community is widening its interest in new approaches to pain.
A team of experts
The company already has a highly qualified, multi-disciplinary team of 25 people at its headquarters near Grenoble, France. The current team includes the company’s three co-founders:
– Co-founder and CEO Jacques Husser served most recently as COO of French IoT company Sigfox, recognized as one of France’s highly successful startups and now a global leader in IoT wireless networks and services. Having raised over €300m and establishing itself in over 60 countries, Sigfox is now a key international technology company. An expert in business strategy, vision and organization, Husser has also held leadership positions in a telehealth company, as well as heading one of the Building Automation divisions of the Hager group.
– Co-founder and CSO David Crouzier has 15 years’ experience in the field of biomedical research. A recognized authority, Crouzier was previously head of a French Department of Defense research laboratory. His research into non-ionizing radiation and electromagnetic biological effects has contributed to publications on health and safety risks of emerging technologies for the National Agency for Food Safety, the Environment and Work (ANSES) in France.
– Co-founder and CTO Michael Foerster is an expert in implanted medical devices and health technology innovation, Foerster has also worked on the design of active implantable brain-machine interfaces for quadriplegic patients at the CEA-Clinatec medical technology research center in Grenoble. He is also a multiple high-tech entrepreneur, having also co-founded mountain sport technology company NIVOLOG.
About Remedee Labs
Remedee Labs is a startup at the crossroads of scientific research and technology. The company has an ambitious vision; using advanced scientific and on-the-edge silicon technology breakthroughs, it is driving a new, more effective way for people to use their body’s own resources for personal health. Founded in 2016 in Grenoble, France, the company already boasts a multidisciplinary, international team, and is an active member of French technology organizations Medicalps and Minalogic.
