Remedee Labs, a French start-up that specializes in non-pharmaceutical treatments for chronic pain, is announcing a new €12.2 million funding round, with investments by Generali France, its historic investors (HCVC, Habert Dassault Finance) and private investors, as well as BPI and its partner banks. Generali France has acquired a stake in the company, and is becoming a key strategic partner. This new funding will give Remedee Labs the resources to accelerate the market launch of its solution in France and internationally while continuing to develop its neuromodulation technology and expand its service offer.
Remedee Labs: a major advance in treatment for chronic pain patients
1.5 billion people worldwide suffer from chronic pain, 50% of them are not receiving appropriate treatment and experience severely diminished quality of life[1]. Remedee Labs, a Grenoble-based start-up that aims to change their quality of life, has developed an innovative comprehensive treatment solution for chronic pain. Its solution combines its unique, non-invasive millimeter wave neuromodulation technology (endorphin stimulator wristband) with a digital services platform[2] and personalized multidisciplinary support.
Following its funding rounds announced in 2019, this €12.2 million in new funding will enable Remedee Labs to bring its solution to market more quickly in France and internationally. It will also fund continued development of Remedee Labs’ technology and service offer so it can better meet the needs of patients, physicians, and health insurers.
“Chronic pain afflicts millions of people and treatment for it is still very inadequate. This new funding and the support of physicians and players like Generali affirms our efforts to have our solution approved for insurance coverage so everyone can access the chronic pain treatment they need,” says Jacques Husser, co-founder and Executive Chairman of Remedee Labs.
Generali France becomes a shareholder and strategic partner
With more than six million policyholders, Generali France is a major player on the health insurance and individual and group life and disability insurance markets. It is a founding member of the digital health care accelerator Future4Care (alongside Sanofi, Orange, and Cap Gemini), which Remedee Labs joined when Future4Care was founded a year ago. With this investment, Generali is becoming not only a shareholder but a strategic partner of Remedee Labs. This partnership will enable Remedee Labs to reach a much wider market for its solution, improving patients’ quality of life while optimizing healthcare spending.
The partnership is fully in line with Generali Group’s “Lifetime Partner 24: Driving Growth” strategic plan to seize growth opportunities in Health and to invest in innovation to support future growth.
“Remedee Labs has developed an innovative solution that meets a serious need for chronic pain treatment and brings real added value to our customers. Our involvement in Future4Care is starting to produce results and we are seeing the full value of this ecosystem, which gives us access to high-performing, relevant start-ups focused on connected health care and personalized medicine. This enhancement of our service offer will be available to beneficiaries of our Health and Life and Disability social initiative as well as our 8,000 colleagues, employees, and General Agents,” says Emmanuel Néré, Director of Innovation at Generali France.
Highly promising real-world results, clinical trial results expected in the first half of 2023
The initial real-world results[3] obtained with the Remedee Well well-being solution, which has been on the market for over a year, are extremely promising. After 90 days of use, more than 8 out of 10 users reported a significant improvement in their quality of life[4], particularly higher-quality sleep and decreased stress and discomfort.
At the same time, Remedee Labs, a science and medicine company, is actively pursuing its slate of clinical trials, which should confirm these real-world observations. Results on fibromyalgia and arthritis are expected in the first half of 2023.
Endorphin stimulation using millimeter waves: an alternative treatment for chronic pain
Remedee Labs has developed the first non-invasive neuromodulation solution, which is transforming treatment for chronic pain. This technology, the result of years of scientific research and solid partnerships with CEA-Leti and ST Microelectronics, is based on the patented MEET (Microelectronic Endorphin Trigger) module, the first miniature millimeter wave emitter. This module, which is embedded in a wristband and worn on the inside of the wrist, emits a very high-frequency signal that stimulates the subcutaneous receptors located 0.5 mm below the skin with extreme precision.
The brain responds to this painless nerve stimulation by releasing intracerebral endorphins which relieve pain, reduce stress, and improve sleep.
ABOUT REMEDEE LABS
Founded in 2016 by three experts in medical micro and nanotechnology and biomedical research, Remedee Labs is a healthtech start-up dedicated to treating chronic pain, with 41 employees based in Grenoble and Paris.
Remedee Labs designed and developed the first comprehensive treatment solution for chronic pain, which combines its unique non-invasive millimeter wave neuromodulation technology (endorphin stimulator wristband) with a digital services platform and personalized support. Since its creation in 2016, Remedee Labs has raised over 25 million euros from investors including Generali, HCVC, Habert Dassault Finance, Artois Investment, Partech, Supernova Invest and C4 Venture.
More about the Remedee Well Solution : https://remedee.com
Remedee Labs Media Contact:
Violaine Bourquin violaine.bourquin@tbwa-corporate.com +33 (0)6 07 46 34 89
Grégoire Husler gregoire.husler@tbwa-corporate.com +33 (0)6 70 10 64 3
ABOUT GENERALI FRANCE
Generali France is one of the leading insurers in France, with total premiums reaching €15.5 billion in 2021. It offers its collective 7.8 million individual, professional and corporate customers a comprehensive range of insurance (health, personal protection, assistance, property and liability), savings and asset management solutions.
Established in France since 1832, Generali France relies on the know-how and expertise of its 9,000 employees, general agents and their collaborators, as well as its network of brokers and intermediaries. Its vision is to be the Lifetime Partner of its customers and distributors. Generali France places its sustainability commitment at the heart of its strategy as a responsible insurer, investor, employer, and citizen, in particular, through its The Human Safety Net foundation.
ABOUT GENERALI GROUP
Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in 50 countries in the world, with a total premium income of € 75.8 billion in 2021. With around 75,000 employees serving 67 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. At the heart of Generali’s strategy is its Lifetime Partner commitment to customers, achieved through innovative and personalised solutions, best-in-class customer experience and its digitalised global distribution capabilities. The Group has fully embedded sustainability into all strategic choices, with the aim to create value for all stakeholders while building a fairer and more resilient society.
Generali media contact:
Marie-Christine Lanne
marie-christine.lanne@generali.com +33 (0)6 20 28 53 77
[1] Prevalence__impact_on_daily_life__and_treatment_EJP_2006_01.pdf
[2] Therapeutic information, user community, physical activity, and nutrition modules
[3] Real-world data based on 495 users.
[4] PGIC (Patient’s Global Impression of Change)
