The strategic deal between the two groups was first announced in January this year. According to the terms of the deal, GSK acquired exclusive ownership of NeuroMetrix’s Quell pain-relief device outside the U.S., in exchange for $5 million upfront and up to $21.5 million in milestone payments.
NeuroMetrix and GSK also plan to co-fund product development for Quell for two years starting in 2019.
NeuroMetrix’s Quell wearable device is designed to treat chronic pain. The system can be worn during the day and night, according to the company, and has been shown in clinical trials to relieve chronic pain. Users can track and manage their treatment with the Quell app, which synchronizes to the cloud to provide customized feedback.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.