Will Investors Rescue Brazos & #039; Migraine Management Device?

A startup company trying to develop a new wearable migraine management therapy device is realizing that getting a new medical device to market can be a financial headache, pardon the pun. Southlake, TX-based Brazos Biomedical, an operating unit of American Diversified Holdings Corporation, said it needs about $2 million to complete all prototype development and FDA requirements to bring its Auracis wearable migraine device to market. Brazos hopes to work with institutional investors to devise a financing strategy to bring the device to market. The Auracis is designed to be worn on the head to deliver transcutaneous electrical nerve stimulation (TENS) to the trigeminal and occipital nerves to treat migraine headache pain. The company said it has met with medical device engineering firms and has done an exhaustive analysis of the technology, including all the necessary patent applications, patent license agreement, technical engineering schematics, FDA plans, clinical study requirements, and other related expenses. Brazos said $2 million should be adequate for all proposed costs over a 24-month time frame.
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news