Business Insight Digest Team
Business Insight Digest Team provides cutting-edge analysis and insights in technology and innovation.
Nalu Medical has strategically appointed Raymond W. Cohen, a distinguished medtech industry veteran, as chairman of its board of directors, signaling a significant step in the company's growth trajectory.
Cohen's appointment brings exceptional leadership credentials, most notably as the CEO and board member of Axonics, a company he co-founded in 2013 and successfully guided through its public offering in 2018. Under his stewardship, Axonics, which specializes in implantable neurostimulation technology similar to Nalu's core offerings, achieved remarkable success, culminating in a $3.7 billion acquisition by Boston Scientific last year.
Following his strategic exit from Axonics, Cohen demonstrated his continued market acumen by joining SoniVie's board, where he played an instrumental role in orchestrating the company's $600 million acquisition by Boston Scientific last month. His portfolio of board positions includes Kestra Medical Technologies, an innovative company specializing in wearable defibrillator systems, which recently completed a successful $202 million IPO.
Tom West, Nalu's CEO and president, expressed strong optimism about the appointment, stating, "We look forward to benefiting from Mr. Cohen's broad experience in growing medtech companies and his expertise in neuromodulation as we seek to significantly increase adoption of our peripheral nerve stimulation system." This strategic move positions Nalu for accelerated market penetration and enhanced shareholder value.
Headquartered in Carlsbad, California, Nalu has established itself as an innovative leader in the medical device sector with its FDA-cleared spinal cord stimulation and peripheral nerve stimulation technology. The company's sophisticated solution addresses the critical market need for chronic neuropathic pain management through advanced neuromodulation, delivering precisely controlled electrical pulses to the nervous system to effectively modulate pain signals before brain reception.
Nalu's technological breakthrough centers on its revolutionary system, featuring a battery-free, miniaturized implantable pulse generator (IPG). This innovative design incorporates an externally worn therapy disc that provides wireless power to the IPG, controllable through an intuitive smartphone application. Despite its compact form factor, the system delivers treatment capabilities comparable to larger IPGs while offering an impressive 18-year service life expectancy, setting new industry standards for longevity and reliability.
The company's commitment to innovation and clinical excellence was further validated earlier this year when it received FDA clearance for expanded labeling of its peripheral nerve system to include whole-body MRI use. This regulatory milestone enhances the system's clinical utility and market potential, demonstrating Nalu's dedication to advancing patient care while creating substantial value for stakeholders.
Cohen's appointment represents a strategic alignment of experienced leadership with innovative technology, positioning Nalu for accelerated growth in the expanding neurostimulation market. This development presents compelling opportunities for industry stakeholders and investors seeking exposure to the rapidly evolving medical device sector.
