Brixton Biosciences Secures $33M Series B to Develop Pain Treatment Tech

Brixton Biosciences, a Massachusetts-based clinical-stage life sciences company, has secured $33 million in a Series B funding round. This funding was led by Schooner Capital, with significant contributions from SV Health Investors, Sparta Group, Excelestar Ventures, PV Capital Management, and Catalyst Health Ventures. The capital injection is set to propel the company into critical clinical trials targeting both chronic and acute pain conditions.

The company plans to leverage its innovative Neural Ice™ technology to conduct pivotal studies aimed at alleviating knee pain caused by osteoarthritis and post-knee replacement surgery. This technology promises a breakthrough in pain management by offering a long-lasting, drug-free injectable nerve block. Aiming to expand beyond knee-related pain, Brixton envisions applying Neural Ice™ across various pain indications.

To steer this ambitious agenda, Brixton has enlisted Dr. Michael Fishman, a renowned figure in pain management, as its Chief Medical Officer, and Reggie Groves, a seasoned professional with a successful history at Medtronic, to its Board of Directors. Dr. Fishman brings a wealth of expertise as a double board-certified Anesthesiologist and Pain Medicine specialist, while Groves offers vast experience in medical devices and pharmaceutical sectors.

Traditional methods for acute pain management often involve systemic medications and local anesthetics that provide short-term relief. Chronic pain treatments, on the other hand, tend to be more complex and difficult to administer, yielding limited patient adherence. Brixton's Neural Ice™ platform aims to disrupt this paradigm by delivering pain relief that lasts between three to six months through a simple injectable approach, directly targeting nerves.

Sameer Sabir, CEO of Brixton Biosciences, expressed enthusiasm about the new funding round and the opportunities it brings. "We are thrilled to welcome our new investors led by Schooner Capital, along with our existing supporters. This funding enables us to advance into regulatory clinical studies. Our objective is to offer a straightforward injectable nerve block that provides months-long relief rather than just a single day," said Sabir.

The company's Neural Ice™ platform has recently earned the prestigious Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA). This recognition is grounded in promising early clinical data and sets the stage for critical regulatory studies aimed at achieving FDA approval.

Ted Henderson, Managing Partner at Schooner Capital, highlighted the investment's potential, noting, "Investing behind a proven entrepreneur, strong early clinical results, and the profound potential to impact pain management represents a terrific opportunity. We are excited to join an esteemed group of early investors."

Dr. Fishman underscored the significance of the technology, stating, "Brixton's goal to provide targeted and long-lasting pain relief using a well-understood mechanism of action has the potential to become the new standard of care. Extending the duration of a nerve block from days to months would be a substantial milestone in regional anesthesia and orthopedics, offering durable relief to patients in need."

As Chief Medical Officer, Dr. Fishman will oversee clinical development and guide the expansion strategy beyond initial indications. He previously served as a Pain Medicine Physician and the Director of Research at the Center for Interventional Pain & Spine. Reggie Groves, who has held transformative roles at Medtronic and currently serves on multiple boards, brings a wealth of experience and strategic insight to Brixton's Board of Directors.

Brixton Biosciences, a spin-out from Massachusetts General Brigham, focuses on developing innovative therapies for pain management. With a leadership team of seasoned managers and medical advisors, the company aims to meet critical unmet needs in the pain management sector through advanced research and novel therapeutics like Neural Ice™.