Sponsored By

The collaboration between NeuroMetrix and GSK was first announced in January and is for the expansion of Quell, a wearable pain treatment device.

Omar Ford

August 22, 2018

1 Min Read
NeuroMetrix Scoops up $3.8M Milestone Payment from GSK
Pixabay

A partnership with GlaxoSmithKline (GSK) Consumer Healthcare seems to be paying off for pain treatment specialist, NeuroMetrix. The Waltham, MA-based company said it is receiving $3.8 million from GSK because it has achieved a second development milestone under the collaboration.

The collaboration with GSK was reported in January 2018. GSK acquired exclusive ownership of the Quell technology for markets outside the U.S. in exchange for a $5 million upfront payment and up to $21.5 million, upon the achievement of certain development and commercialization milestones.

“We are excited by the opportunity to partner with GSK Consumer Healthcare to expand access to Quell technology among chronic pain sufferers around the world. GSK Consumer Healthcare is a world leader in over-the-counter pain relief, with several top global brands,” Shai N. Gozani, M.D., Ph.D., president and CEO of NeuroMetrix, said in a release when the collaboration was first announced. “We will continue to focus on building Quell into a leading U.S. consumer healthcare brand while collaborating with GSK on Quell product development and supporting their international commercialization efforts. We believe that GSK is our ideal Quell partner as we share a deep commitment to science-based therapies and to the health and quality of life of our customers.”

In addition, NeuroMetrix and GSK will co-fund Quell technology development for an initial two-year period starting in 2019 with extensions by mutual agreement.

Quell is an advanced, wearable technology for treating chronic pain. It can be worn during the day while active and at night while sleeping. The device uses an electrode strapped to the upper calf to deliver pulses that trigger a pain relief response in the brain. It can also measure the quality of users' sleep.

In 2015, MD+DI named Quell as a wearable device to watch.

About the Author(s)

Omar Ford

Omar Ford is MD+DI's Editor-in-Chief. You can reach him at [email protected].

 

Sign up for the QMED & MD+DI Daily newsletter.

You May Also Like