• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Drug Delivery Business

  • Clinical Trials
  • Research & Development
  • Drug-Device Combinations
  • FDA
  • Pharmaceuticals
  • Policy

NeuroMetrix lands $4m milestone payment from GSK deal

August 23, 2018 By Sarah Faulkner

NeuroMetrix QuellNeuroMetrix (NSDQ:NURO) said this week that it reeled in a $3.8 million milestone payment from its collaboration with GlaxoSmithKline‘s (NYSE:GSK) consumer healthcare unit.

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.

Want to stay on top of DDBN content? Sign up for our e-mail newsletter for a weekly dose of drug-device news.

Filed Under: Featured, Funding Roundup, Pain Management, Wall Street Beat Tagged With: GlaxoSmithKline plc, neurometrix

IN CASE YOU MISSED IT

  • MedAlliance wins second FDA IDE nod for drug-coated balloon
  • Wells Fargo downgrades Tandem amid rise of automated insulin delivery competition
  • FDA approves first targeted infusion therapy for HER2-low breast cancer
  • Abbott, WeightWatchers partner on diabetes care
  • Insulet up on Q2 sales beat, raised full-year guidance

Primary Sidebar

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
Need Drug Delivery Business News in a minute? We Deliver!
Drug Delivery Enewsletters get you caught up on all the mission critical news you need in med tech. Sign up today.

Signup for the newsletter

Footer

Drug Delivery Business News Logo

MassDevice Medical NETWORK

MassDevice
DeviceTalks
Medical Tubing & Extrusion
Medical Design & Outsourcing
MedTech100 Index
Drug Discovery & Development
Pharmaceutical Processing World
Medical Design Sourcing
R&D World

DRUG DELIVERY BUSINESS NEWS

Subscribe to Drug Delivery’s E-Newsletter
Advertise with us
About
Contact us
Privacy
Listen to our Weekly Podcasts
Add us on FacebookFollow us on TwitterConnect with us on LinkedIn

Copyright © 2022 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Advertise | Privacy Policy | RSS