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GENESIS Tech Transfer Boost invests €25,000 in the biotech company Spinally Medical

GENESIS Tech Transfer Boost has made its first investment for a ticket of €25,000 in the biotech company Spinally Medical. The investment vehicle formed in 2022 by GENESIS Biomed, FI Group and Crowd4Ventures for a total of €1M for 4 years, aims to detect and invest in early-stage projects in the biomedical sector from the health and academic environments.

Spinally Medical is a biotech company that has developed and protected a spinal cord stimulation system for the treatment of disabling low back and legs pain (LBP) that is much smaller and more efficient than current neuromodulation wires. Low back pain (LBP) is one of the leading causes of disability worldwide. Currently more than 80 million people in the US and Europe suffer from disabling low back pain (LBP). In addition to the dramatic impairment of quality of life, it causes enormous losses to economies around the world.

The intrathecal spinal cord stimulation system, developed by Spinally Medical, is inserted percutaneously into the intrathecal space and is based on a system that decides which pole is best placed to generate the electrical field. Its design, optimised to take advantage of the properties of cerebrospinal fluid, will result in a smaller implant size and a longer time between home recharges by the patient (going from several hours per week to less than 1 hour per month) due to its energy efficiency.

The investment made by GENESIS Tech Transfer Boost will enable the development of the product to a level of maturity that will allow it to attract venture capital investment in future investment rounds, facilitating its clinical validation and its arrival on the market.

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