Nervonik, a U.S.-based developer of next-generation peripheral nerve stimulation (PNS) systems, has raised $52.5M in an oversubscribed Series B funding round led by Amzak Health. The company's miniaturized wireless implants feature biosensing for treating chronic neuropathic pain in high-motion areas like shoulders and knees. The capital will advance development, clinical trials, and commercialization of its PNS platform.
PNS Inflection After Nalu Acquisition
The raise follows Boston Scientific's agreement to acquire Nalu Medical ($446M total funding per Crunchbase), signaling big medtech consolidation in PNS. SPR Therapeutics ($174M raised per Crunchbase) focuses on percutaneous systems for acute pain. Nervonik's fully implantable design with motion-tolerant biosensing targets gaps in active lifestyles.
Chronic Pain Drives Non-Opioid Shift
Chronic neuropathic pain affects millions, fueling demand for alternatives amid the opioid crisis. Current PNS systems struggle with lead migration and suboptimal programming in dynamic areas. Medicare's June 2025 billing updates for PNS improve reimbursement.
Trifecta Tech Enables Closed-Loop PNS
Nervonik's patented trifecta integrates connectivity, wearability, and biosensing for evoked compound action potentials (ECAP) during stimulation. This closed-loop system optimizes lead placement and parameters via app, unlike open-loop rivals. The battery-free micro-IPG and cylindrical leads suit high-motion use.
As Aydin Babakhani, founder and CEO, noted:
"Nervonik is building a fundamentally differentiated neuromodulation platform that integrates stimulation with advanced sensing to deliver more precise and personalized therapy."
Biosensing Closes Therapy Feedback Loop
First-in-human trials in Panama verified safety and ECAP recording on peripheral nerves. Four papers accepted at NANS 2026 cover battery-free PNS and biosignals. This addresses limitations of percutaneous systems like Stimwave's, which faced stability issues.
Medtech VCs Back Neuromodulation Scale
Amzak Health led with participation from USVP, Lumira Ventures, Elevage Medical Technologies, Foothill Ventures, and ShangBay Capital. Investors like USVP (Neuros Medical) and Lumira (Cadence Neuroscience) show sector conviction. Prior $13M Series A in March 2025 supported early clinical work.
PNS Market Doubles Amid Tailwinds
The peripheral nerve stimulators market stood at $271.8M in 2024 and projects to $680.3M by 2033 at 10.7% CAGR per Grand View Research. Wireless miniaturized systems drive growth. Recent Nalu acquisition underscores M&A potential.
Exits-Seasoned Team Drives Differentiation
Founder Aydin Babakhani, UCLA professor, previously co-founded Maxwell Biomedical for wireless implants. April Pixley led engineering at Spinal Modulation (acquired for $175M by St. Jude) and St. Jude. Ranjan Nageri advanced neuromodulation at Boston Scientific and iota Biosciences (up to $304M acquisition).
Hiring Spree Signals Commercial Push
Post-raise, Nervonik opened 20+ roles in R&D, clinical, regulatory, and sales. Recent demos confirmed ECAP sensing in patient cohorts. Funds target pivotal trials and U.S. market entry.