Remedee Labs raises €12.5 million to alleviate chronic pain

The French startup Remedee Labs, which has developed a connected bracelet to stimulate the creation of endorphins, announced on December 6, 2022 that it raised 12.5 million euros. A round table held pending the results of the clinical studies expected to arrive in the coming months.

“The objective is to certify the solution as a medical device”, explains Jacques Husser, co-founder and executive president of Remedee Labs, to be able to communicate in the medical field, which today is not possible. The start-up therefore speaks of a service to improve the quality of life for the moment. But the long-term goal is to position itself in relieving chronic pain linked to fibromyalgia, osteoarthritis and migraine. As a reminder, pain is chronic when it has been present for more than three months. The young shoot adds that his technological solution helps to reduce stress and sleep better.

30 to 40 minute sessions with the bracelet

Remedee Labs offers a comprehensive chronic pain management service. Jacques Husser evokes a “non-invasive technology that releases brain endorphins” after stimulation. In fact, the startup has developed a bracelet that emits a high-power, low-frequency electromagnetic signal over 2 cm². The person does not feel anything, but the signal sends information to the brain that releases brain endorphins 20 to 30 minutes after the session. Remedee Labs offers a bracelet because this area of ​​the body is very innervated.

The wristband should be worn during sessions of 30 to 40 minutes. At the end of the session, you must place the bracelet back in its support so that it can be recharged. “Up to seven treatments can be achieved with one charge”, slides Jacques Husser. The number of sessions to be carried out depends on the pathologies and the people, but for pain related to fibromyalgia, three sessions a day are often recommended.

The start-up claims not to have seen any side effects so far. “We don’t add anything to the body, but the device accelerates a natural process”, explains the co-founder. It specifies that no habituation or addiction was observed. “Once the endorphin is released, it takes the brain several hours to release it again” slips Jacques Husser. And the treatment cannot be carried out permanently.

A service available for €39.90 per month

The story of Remedee Labs begins with one of the co-founders who found traces, while working in the army health service, of treatments based on millimeter wave technology applied by Russian hospital services for the treatment of pain. The latter would have treated almost three million people in hospitals with this technology before painkillers were marketed in the country.

This technique was complicated at the time and required patients to come to the hospital. But working in partnership with the Clinatec project, which notably brings together Grenoble University Hospital and CEA, the co-founders of Remedee Labs managed to develop an easy-to-use solution, in particular thanks to the use of silicon in the manufacture of semiconductors. The startup was born in 2016.

A year ago, she launched her chronic pain management service. It is possible to subscribe to the service for 39.90 euros per month. This subscription gives access to the connected wristband as well as various digital services through the application. Each person is accompanied by a health coach, with whom it is possible to communicate via chat or telephone. Coaches are currently hired by the start-up, whether neuropsychologists, nurses, nutritionists, etc. Ultimately, Remedee Labs wants to delegate this part to a third-party company.

After 60 days, if the person does not feel a real improvement, the treatment is stopped and the person can be reimbursed. The start-up does not want to communicate the number of people who have signed a subscription, but claims to have “numbers that begin to be enough to make statistics”, according to Jacques Husser. In total, 1.5 billion people worldwide report suffering from chronic pain, half of whom are unhappy with the treatments they receive.

Towards medical device status?

This fundraiser should help the start-up in its acceleration phase. After developing the product and starting clinical studies, Remedee Labs enters the commercialization phase, which it hopes will be accelerated thanks to the results of the clinical studies. The start-up intends to market its solutions in France, and more widely in Europe and the United States, which is a key market. It also obtained innovative device status from the US FDA, which should make it possible to speed up the market placement process.

Remedee Labs hopes to obtain medical device status by the end of 2023 at European level, which will allow it to initiate state-by-state discussions for possible reimbursement under common law. On the other hand, until then, it is possible to establish partnerships for partial coverage by private payers, such as mutual insurance companies. This is the case, for example, of Generali France. The French insurance company, which invested in the start-up’s capital on the occasion of this fundraising – along with HCVC, Habert Dassault Finance, private investors, BPI and partner banks – took the opportunity to close a partnership to offer the device to your customers.

At the same time, the start-up intends to continue its research to see if the device can be used in the context of other pains. She is also trying to find out if it is possible to eliminate chronic pain over time, that is, to stop treatment without the pain returning. Finally, thanks to the connected wristband, information is regularly reported, which allows for continuous improvement of the service.

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