Overview
ANEUVO has raised $22 million in a Series C round in April 2026 to commercialize its non-invasive spinal cord stimulation (SCS) platform for chronic pain management. Unlike traditional SCS devices that require surgical implantation of electrodes near the spinal cord, ANEUVO's system delivers therapeutic stimulation through the skin.
How It Works
ANEUVO's device uses high-frequency transcutaneous electrical stimulation applied to the back to modulate pain processing in the spinal cord's dorsal horn. The company's proprietary waveform technology can activate the same pain-gating mechanisms targeted by implanted SCS devices — without the risks, costs, and limitations of surgery.
Clinical Data
In clinical studies, ANEUVO's non-invasive approach demonstrated pain relief comparable to implanted SCS in certain chronic pain populations, with significantly fewer adverse events and no surgical risks. Patients used the device at home, applying treatment sessions as needed.
Market Impact
The traditional SCS market is worth $3+ billion annually but limited by surgical requirements and a significant rate of device explants. A non-invasive alternative could dramatically expand the addressable market by reaching patients who refuse surgery, aren't surgical candidates, or want to try stimulation before committing to an implant.
