• Skip to main content
  • Skip to header right navigation
  • Skip to site footer
  • About Us
  • Contact Us
  • Billing Portal
SPRINT® PNS System

SPR Therapeutics

SPRINT PNS System

  • Product
  • For Physicians
    • Clinical Outcomes & References
    • Implant Procedure Videos
    • Video Resources
    • SPRcare Reimbursement
    • Important Safety Information
    • MRI Safety Information
    • Promotional Marketing Toolkit
  • For Patients
    • Patient Stories
    • Patient Resources
    • Recursos para pacientes
    • MicroLead™ Safety
    • MRI Safety Information
  • Clinical Trials
  • News & Events
    • News
    • Events
    • Press Room
  • Careers

SPR Therapeutics® Secures $25 Million in Series C Financing

September 12, 2017

SPR Therapeutics® Secures $25 Million in Series C Financing

Funding will support commercialization of SPRINT® PNS System, a non-opioid neurostimulation pain-relief therapy for chronic and acute pain

CLEVELAND, Sept. 12, 2017 (GLOBE NEWSWIRE) — SPR Therapeutics, Inc., (SPR) a private medical device company that has developed a novel neurostimulation technology for chronic and acute pain, announced today the completion of $25 million in Series C Financing.  The investment will be used to commercialize its FDA-cleared SPRINT® Peripheral Nerve Stimulation (PNS) System and to fund additional research across multiple indications including post-surgical acute pain and chronic low back pain.  A prominent family office and Frontcourt Ventures led the round.

The funding comes at a time when opioid use, abuse and addiction are fueling a devastating nationwide epidemic with 91 Americans dying every day from an opioid overdose.  The SPRINT PNS System offers a non-narcotic solution for the relief of chronic and acute pain.  The therapy uses a threadlike wire placed through the skin, which connects to a wearable stimulator to activate target nerve fibers to achieve pain relief.  It delivers sustained, significant pain relief without opioids, permanent implants or tissue destruction.

“The opioid crisis is personal to us at SPR, as our home state of Ohio has one of the highest drug overdose death rates in the nation,” said Maria Bennett, CEO, President and Founder of SPR.  “This funding will allow us to offer SPRINT, a safe and effective pain-relief therapy, to more pain sufferers.”

The company also announced the appointment of Nick Valeriani to the SPR board of directors.  Mr. Valeriani is a distinguished and experienced healthcare leader having previously served as the CEO of West Health and prior to that, spent 34 years with Johnson & Johnson serving on its Executive Committee as worldwide chairman of medical devices & diagnostics, and vice president of the Office of Strategy & Growth.

“Nick is an important addition to the SPR Board as he has deep expertise in successfully commercializing numerous, game-changing therapies.  He is a visionary in the field of health care and has often been ahead of the curve in identifying global healthcare trends,” said Bennett.

“The SPR Therapeutics leadership team is comprised of recognized experts in the neuromodulation and pain management industries,” said Mr. Valeriani.  “I am excited to support Maria and her talented team as they make this innovative, groundbreaking technology commercially available to millions of people seeking non-opioid relief of chronic and acute pain.”

In addition to prior equity financing of approximately $10 million, SPR has received nearly $23 million to date in non-dilutive funding from sources including the U.S. Department of Defense and the National Institutes of Health.

About SPR Therapeutics 
SPR Therapeutics, Inc. is a private company headquartered in Cleveland.  The company is commercializing its SPRINT® technology which provides opioid-free, peripheral nerve stimulation for the relief of chronic and acute pain, and is advancing additional clinical trials to treat low back pain, neuropathic pain and pain following total knee replacement.  The SPR-patented SPRINT technology received FDA clearance for commercial use in the U.S.

SPR Contact:
Mark Stultz
Senior Vice President
mstultz@sprtherapeutics.com
612.770.0390

FOR MEDIA QUERIES, Contact:
Tracey Sawicki
Frontcourt PR
tracey@frontcourtgroup.com
917.297.0574

Share this post:

Share on Twitter Share on Facebook Share on LinkedIn Share on SMS Share on Email
Category: News
Previous Post:SPR Therapeutics Promotes Dr. Joseph Boggs to SVP of Research and Development
Next Post:Opioid Addiction Kills Tens of Thousands of Americans Each Year. These 2 Scrappy Startups are Trying to Save Those Lives.

Sidebar

Archives

Recent News

Dr. Samir Sheth discusses how the SPRINT® PNS System has impacted his approach to treating patients with chronic head and neck pain

SPR Therapeutics Debuts Occipital Nerve Stimulation Data at ASRA 2022

A Discussion on Pain Management Options for Patients with Breast Cancer with Dr. Amitabh Gulati

Real-World Retrospective Review of Axial Neck Pain Relief Following Peripheral Nerve Stimulation of Cervical Medial Branch Nerves

Pain Medicine News Features SPRINT® PNS System Real-World Survey Outcomes

Tags

60-day percutaneous PNS acute pain Back Pain back pain treatment cancer pain chronic back pain Chronic Pain clinical study Dr. Mehul Desai drug-free EY award hip pain low back pain medial branch Neuromodulation Non-opioid oncological pain opioid alternative Pain pain appointment pain physician pain relief pain treatment Patients Patient Story peripheral nerve stimulation permanent PNS implant phantom limb pain PNS PNS training post-amputation pain Press release radiofrequency ablation recondition CNS reduced opioids research Research study residual limb pain RFA Shoulder Pain SPRINT PNS SPRINT PNS System temporary pns Training lab webinar
SPRINT® PNS System

22901 Millcreek Blvd, Suite 500
Cleveland, OH 44122
(844) 378-9108 Phone
(216) 803-0777 Fax

Top Work Places 2022

Quick Links

  • Product
  • For Physicians
  • For Patients
  • Clinical Trials
  • News & Events
  • Careers
  • About Us
  • Contact Us

Legal Links

  • Privacy Statement
  • Terms of Use
  • CPRA Requests
  • Important Safety Information
  • Compliance
  • FCOI Policy
  • Product Terms & Conditions
  • Patent Information

Recent News Headlines

Dr. Samir Sheth discusses how the SPRINT® PNS System has impacted his approach to treating patients with chronic head and neck pain

NANS 26th Annual Meeting – Las Vegas, NV

Sprint Regional Lab – Jacksonville

Sprint Regional Lab – Chicago

The SPRINT PNS System is indicated for up to 60 days for: (i) Symptomatic relief of chronic, intractable pain, post-surgical and post-traumatic acute pain; (ii) Symptomatic relief of post-traumatic pain; and (iii) Symptomatic relief of post-operative pain. The SPRINT PNS System is not intended to treat pain in the region innervated by the cranial and facial nerves. Physicians should use their best judgment when deciding when to use the SPRINT PNS System. For more information see the SPRINT PNS System IFU. Most common adverse events are skin irritation and erythema. Results may vary. Rx only.

View References for support of all claims.

The SPRINT® PNS System, MicroLead™, OnePass Introducer™, Rethink Your Pain Strategy™, Outsmart Pain™, Sustained Pain Relief Starts Here™, Life. Get Back to It.™ and SPR® are registered or common law trademarks of SPR Therapeutics, Inc.


Copyright © 2023 SPR Therapeutics. All Rights Reserved.

This website is intended only for US and Canadian residents 18 years of age and older. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
Save & Accept
Powered by CookieYes Logo