SPR Therapeutics, based in Beachwood, Ohio, is a privately-held medical device company specializing in the development of innovative pain management solutions. Founded in 2009 by Maria Bennett, the company is renowned for its SPRINT Peripheral Nerve Stimulation (PNS) System. SPR Therapeutics has positioned itself as a leader in non-opioid, minimally invasive pain treatment technologies. Over recent years, the company has secured significant funding, including an $85 million financing round in early 2024, to support its growth and innovation strategies.
| Attribute | Information |
|---|---|
| Founding Date | 2009 |
| Headquarters | Beachwood, Ohio, USA |
| Founders | Maria Bennett |
| Revenue | $4 million (estimate as of 2023) |
| Key Investors | Venture Capitalists, Insiders |
| Industry | Medical Devices |
| Number of Employees | Approximately 310 |
SPR Therapeutics was founded in 2009 with the mission to provide effective, non-opioid pain treatment options. Emerging from research initiatives related to neurostimulation, the company developed the SPRINT PNS System as a drug-free alternative to manage pain. Key milestones in its early years included the successful clinical trials that demonstrated the safety and efficacy of its PNS technology. These efforts were pivotal in establishing SPR Therapeutics as a pioneering force in the field of peripheral nerve stimulation for chronic and acute pain, instrumental in setting the foundation for its future growth.
SPR Therapeutics has built its business model around its innovative SPRINT PNS System, which provides a minimally invasive, temporary treatment option for pain relief. This system allows patients to manage pain for up to 60 days without drugs or surgical implantation, standing out in a market increasingly focused on reducing opioid dependency.
As of 2024, SPR Therapeutics is actively expanding its market reach within the United States. The significant funding rounds illustrate the confidence investors have in its growth trajectory and innovations. The company is noted for its competitive edge in the non-opioid pain management space, with a robust pipeline of neurostimulation therapy products.
Through its strategic initiatives and continued emphasis on research and development, SPR Therapeutics continues to strengthen its market presence while contributing significantly to the shift towards non-opioid pain management solutions. The company has reported substantial revenue growth and aims to further penetrate global markets where there is a rising demand for drug-free pain solutions.
SPR Therapeutics stands out in the medical technology sector with its commitment to providing innovative, non-opioid pain management solutions. The company's growth is propelled by robust research backing and significant capital investment, which consolidates its market position. Looking forward, SPR Therapeutics is poised to expand its influence within the industry, introducing new advancements in pain therapy while pushing the boundaries of non-invasive treatments. Its trajectory suggests an ongoing contribution to healthier, drug-free pain management practices globally.