Brixton Biosciences, a clinical-stage life science startup focusing on developing therapies for acute and chronic pain relief, has raised $33 million in series B funding to pursue pivotal clinical studies on the treatment of osteoarthritis-related knee pain and extend its Neural Ice™ application.
The new round, led by Schooner Capital, included significant contributions from SV Health Investors, Excelestar Ventures, Sparta Group, PV Capital Management, and Catalyst Health Ventures.
According to the company’s announcement, the new capital will also support the expansion of the company’s Neural Ice™ application to many indications beyond knee pain, leveraging a long-acting injectable non-drug nerve block.
To align the company’s operation with its goals and latest inventions, the company has appointed two key personalities to its board of directors. Dr. Michael Fishman, a well-known opinion leader in pain management, has been appointed as the Chief Medical Officer, with Reggie Groves, an industry expert, also joining Brixton’s Board of Directors.
With the popularly known pain treatment approach majorly relying on a combination of systematic medications and localized anesthetics that are generally easy to use but offer pain relief for a short period, long-lasting treatment for chronic pain can be complicated to administer, resulting in a poor response.
However, Brixton’s Neural Ice™ platform takes a different path. It directly targets the nerves to provide long-lasting pain relief for about 3-6 months by administering a targeted familiar injectable.
The treatment, which has shown success in early clinical trials, involves injecting a nerve block with a single shot to provide a numbing effect for months, compared to traditional numbing medicines, which offer relief only for a few days.
Brixton’s successful fundraiser follows a recent FDA designation of its novel Neural Ice™ as a breakthrough device, vindicating the company’s promising pain therapy. The company’s newly appointed Chief Medical Officer, Dr. Michael A. Fishman, will spearhead the company’s clinical developments and manage the expansion strategies.
