Theranica Enters Into Agreement With Dr. Reddy's for Commercializing Nerivio® in Europe

Commercial Collaboration Follows News of Nerivio®'s Expanded CE Mark Approval as Novel Non-Drug, Dual-Use Migraine Treatment for Adolescents and Adults

NETANYA, IsraelNov. 14, 2023 /PRNewswire/ —Theranica, a neuromodulation therapeutics company, and Dr.Reddy’s Laboratories Ltd. (“Dr. Reddy’s”)  today announced an exclusive agreement for the commercial marketing and distribution of Nerivio® in AustriaCzech RepublicDenmarkFinlandFranceItalyNorwayPolandSlovakiaSpainSwedenSwitzerland and the UK, in addition to Germany, which has been agreed on earlier.

This comes after Theranica announced in August this year that Nerivio®, a novel, drug-free REN (Remote Electrical Neuromodulation) wearable for migraine, has received an expanded CE mark approval under MDR European regulation as a dual-use (acute and/or prevention) migraine treatment for adults and adolescents.

The commercial agreement between Theranica and various European subsidiaries of Dr. Reddy’s includes licensing fees and additional payments in return for the exclusive rights to market Nerivio® in various European countries. Dr. Reddy’s will manage marketing, sales, and local support aspects of the Nerivio® commercialization across Europe, starting with Germany, and gradually expanding throughout the European countries mentioned above. This follows an earlier agreement between Theranica and Dr. Reddy’s regarding the commercial collaboration in Indiafor Nerivio®.

“This agreement carries long-awaited news for millions of people with migraine all over Europe,” says Ronen Jashek, Theranica COO. “After the welcoming acceptance of Nerivio in the USA and following numerous requests from neurologists and patients in Europe,  this commercial collaboration with Dr. Reddy’s makes Nerivio available to even more patients around the world. Migraine is a leading cause of disability worldwide, affecting 100 million adolescents and young adults. Early intervention with both preventive and acute treatment is imperative to restrain the disease from escalating in adulthood. We put special emphasis on bringing this innovative therapy to underserved populations, such as adolescents.”

“Dr. Reddy’s commercial collaboration with Theranica perfectly aligns with our commitment to address unmet patient needs,” says Patrick Aghanian, CEO of Generics Europe, Dr. Reddy’s Laboratories. “We are excited to bring a drug-free migraine treatment option to European patients, which could make a difference to migraine patients’ quality of life.”

About Nerivio

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.