Business
Trinity Capital Inc. Provides $25 Million Growth Capital to Neuros Medical, Inc.
PHOENIX, Oct. 31, 2023 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of diversified financial solutions to growth-stage
About this update from Trinity Capital Inc.
[{"type":"text","content":"PHOENIX, Oct. 31, 2023 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) (\"Trinity\"), a leading provider of diversified financial solutions to growth-stage companies, today announced the commitment of $25 million in growth capital to Neuros Medical, Inc., a bioelectric technology company focused on alleviating chronic post-amputation pain and restoring quality of life.\n\n \n \n \n \n \n \n\n \nNeuros Medical's Altius System incorporates the company's patented platform technology, On-Demand Bioelectric Nerve Block, which patients initiate as needed for targeted pain relief. The technology blocks sensory nerves and has the potential to alleviate pain in nearly one million Americans with phantom limb and residual limb pain, fulfilling a significant need for patients. This system also has the potential to reduce drug dependency as existing treatment options are primarily limited to opioids and gabapentinoids.\nRob Lake, Senior Managing Director, Life Sciences at Trinity, said, \"We are proud to partner with Neuros Medical on their journey to improve the lives of those suffering from chronic post-amputation pain, and we look forward to working with their team to support their continued growth.\"\nThe growth capital will enable Neuros Medical to augment the recent equity raised and further scale operations to assist with their commercial launch.\nDavid Veino, President and Chief Executive Officer of Neuros Medical said, \"We appreciate the conviction Trinity has in the Neuros mission and our ability to scale commercialization, delivering this life-changing therapy to a large, underserved amputee population in desperate need of pain relief.\"\nAbout Trinity Capital Inc.Trinity Capital Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans and equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth stage companies. For more information, please visit the Company's website at www.trinityca...