2023 Marks a Year of Phenomenal Progress for Theranica in Adolescent Migraine Care
Its Leading REN Wearable Device Brings Hope to Adolescents in the Fight Against a Leading Neurologic Disease
NETANYA, Israel, Dec. 19, 2023 /PRNewswire/ — Theranica, a neuromodulation therapeutics company, announces its remarkable achievements and robust growth throughout 2023. With its flagship product, the Nerivio® REN wearable, Theranica has been a transformative force in the treatment of migraine, a debilitating neurological condition affecting 1 billion people worldwide, including 10% of children.
“We are committed to dramatically improving the quality of life of the 100 million adolescents living with migraine worldwide. Given the efficacy, safety, and modern usability of Nerivio, we aim to position it as the first-line prescribed treatment for adolescents who are disabled by this neurological disease,” stated Alon Ironi, CEO of Theranica. “As a parent who has seen firsthand the distress caused by migraine in my own daughter, I want every caregiver around the world to know they have access to an effective, drug-free alternative to alleviate their teenager’s suffering from this burdensome disease.”
In the past year, Theranica has achieved several significant milestones, including regulatory clearance expansions, new strategic partnerships, and industry recognition for its cutting-edge REN wearable. Additionally, the company experienced dramatic growth year-over-year in both revenue and units shipped with the expansion from the dual-use indication. These accomplishments have cemented Theranica’s position as a pioneering leader in migraine treatment.
Regulatory Clearance Expansions. Among the most notable achievements of 2023 was the FDA clearance of Nerivio for the preventive treatment of migraine, offering a safe and effective dual-use treatment for adolescents and adults alike. The CE (MDR) mark indication for Nerivio was also expanded to cover preventive and acute migraine treatment for adolescents and adults.
Strategic Partnerships. Strategic alliances have been pivotal to Theranica’s success. The company forged a commercialization partnership with Dr. Reddy’s in India, broadening Nerivio’s reach to a larger population. Dr. Reddy’s also amplified its commercialization efforts in Europe, bringing the REN wearable to an even larger audience.
Real-world Evidence and Clinical Data. In 2023, six real-world studies were published showcasing the efficacy and safety of the first and only REN wearable. This body of evidence supports the use of Nerivio as an effective, drug-free treatment for migraine in adolescents. Furthermore, a health economics study highlighted the considerable clinical and cost-saving benefits of using Nerivio for migraine prevention, reinforcing its potential to be a leading treatment in this field.
Events and Awards. Theranica’s strides in innovation have earned them prestigious accolades this year. The company was honored with the Fast Company’s Next Big Thing in Tech Awards in the health category and the Fierce Life Sciences Innovation Awards in the medical device category. The launch of the first migraine REN wearable at the Child Neurology Society Annual Meeting demonstrated Theranica’s commitment to addressing the unmet needs of adolescents with migraine.
Controlled by a smartphone app and self-administered, the Nerivio REN wearable is a complete migraine care treatment that wraps around the upper arm and uses sub-painful Remote Electrical Neuromodulation (REN) to activate nociceptive nerve fibers in the arm. These fibers send signals that trigger a descending pain management mechanism in the brain called conditioned pain modulation (CPM), which turns off migraine pain and associated symptoms without medication. In simpler terms, the upper arm is stimulated to unleash a natural process in the brain to abort or relieve migraine headaches and other associated symptoms. Each treatment lasts 45 minutes and is applied every other day for prevention or at the start of a migraine attack for acute treatment.