Stimgenics design spinal cord technology acquired by Medtronic plc in an undisclosed amount. The acquisition will boost the Medtronic pain therapy segment, the technology is delivered via its Intellis implantable neurostimulator to treat chronic pain. Medtronic received FDA approval for its Intellis stimulator in 2017.
Stimgenics is based in Bloomington, Ill and Medtronic (NYSE: MDT), is based in Dublin but has its operational headquarters. More results of a clinical study are due to be released later at a medical conference.
The inclusion of Stimgenics technology called Differential Target Multiplexed (DTM™) Spinal Cord Stimulation has the potential to improve outcomes for chronic pain patients. The technology has shown some significant reversal of pain as compared to low frequency or high-frequency technology. The acquisition will be neutral to the fiscal year 2020 earnings per share as per news report.
Stimgenics founder and lead investigator Ricardo Vallejo said in a press release, “Stimgenics’ research is deeply rooted in clinical science that began with animal work more than a decade ago. Our preclinical data demonstrated that the modulation of both neurons and glial cells may return glial cells to their normal state and modify how they interact with neurons, which could normalize biological processes and break the pain cascade,”
Marshall Stanton, business president, pain therapies, Medtronic said in a news report, “Medtronic is committed to providing clinically proven therapeutic options for millions of patients suffering from chronic pain around the world. The DTM therapy will advance the treatment of chronic pain, supported by clinical evidence and preclinical research on a neuronal-glial mechanism of action. It’s an exciting, new proprietary SCS waveform that will be available on the Intellis platform, and we are looking forward to seeing the results of the randomised control trial data later this month at NANS.”