Theranica
Theranica is an Israeli biomedical technology company that develops Nerivio, an FDA-cleared prescription wearable using Remote Electrical Neuromodulation to treat acute and preventive migraine in patients aged 8 and older, distributed through US payers, telemedicine, and international partners.
- Company typePrivate
- Founded2016
- HeadquartersNetanya, Israel
- Headcount11–50
- GTM typeB2B and B2C
- OfferingHardware or Manufacturing
What Theranica does
Theranica Bio-Electronics Ltd. is an Israeli biomedical technology company founded in 2016 that develops prescription digital therapeutics for migraine and other neurological pain conditions. Its flagship product, Nerivio, is a non-invasive wearable device that delivers Remote Electrical Neuromodulation (REN) — stimulating peripheral nerves on the upper arm to activate Conditioned Pain Modulation (CPM), an endogenous analgesic mechanism in the brain stem. Nerivio is FDA-cleared for acute and preventive treatment of migraine in patients aged 8 and older, holds CE Mark for the EU, and received China NMPA approval in 2025, making it the only REN-based migraine treatment in that market. The device is controlled via a Bluetooth-connected smartphone app (iOS and Android) that also delivers migraine diary tracking, guided imagery/relaxation content, and an AI-powered 'Your Day Ahead' pattern recognition feature trained on data from over 53,000 users.
Theranica generates revenue primarily through prescription hardware sales of the Nerivio device plus recurring refill purchases, distributed via a hybrid model: enterprise field sales targeting neurologists and headache specialists, telemedicine platforms (UpScript Health, Cove), pharmacy benefit managers (MC-Rx), and government sales to the VA, DoD, and Indian Health Services. International commercialization is executed through regional partners — Dr. Reddy's Laboratories for India and Europe, and Pier 88 Health for China. The company has secured coverage for approximately 130–150 million lives in the US through commercial insurers including Blue Cross Blue Shield, Highmark, and Medicaid programs, and operates a unique CMS Level II HCPCS code.
The company has raised approximately $86 million across Series A ($6M, 2017), Series B ($35M, 2019), and Series C ($45M, 2022) rounds, led respectively by Lightspeed Venture Partners, aMoon, and New Rhein Healthcare Investors. Theranica employs 11–50 people across its headquarters in Caesarea, Israel, and US commercial operations in Bridgewater, NJ, and is led by co-founder and CEO Alon Ironi, with a board that includes former Blue Cross Blue Shield Association CEO Scott Serota and other healthcare industry veterans. Real-world evidence includes a landmark 55,000-patient study published in Cephalalgia and a 2,000-patient safety study in Pain and Therapy reporting a 0.9% adverse event rate.
Theranica firmographics
Firmographics- Name
- Theranica
- Legal name
- Theranica Bio-Electronics Ltd.
- Website
- https://theranica.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Theranica is an Israeli biomedical technology company that develops Nerivio, an FDA-cleared prescription wearable using Remote Electrical Neuromodulation to treat acute and preventive migraine in patients aged 8 and older, distributed through US payers, telemedicine, and international partners.
- Ownership category
- akta.pro rank
Theranica industry classification
Industry- Product category
- Neuromodulation migraine devices
- NAICS
- Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)
- SIC
- Electromedical & Electrotherapeutic Apparatus (3845)
- akta.pro primary industry
- Connected Therapeutics & Smart Drug Delivery Monitoring (HLACAFAL)
- akta.pro secondary industry
- Pain Medicine (Interventional/Neuropathic Pain) (HLAKAIAM)
Keywords
Where Theranica is headquartered
LocationHeadquarters
- HQ city
- Netanya
- HQ country
- Israel
- HQ region
- Middle East
Offices3 records
Markets served
Theranica business model
Business model- GTM type
- B2B and B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Supply Chain, Operations
Revenue model
- Wearable Device Sales: Prescription wearable device sold to patients through pharmacy channels and direct fulfillment. Device requires prescription and is covered by insurance plans including commercial payers, Medicaid programs, and government health systems (VA, DoD).
- Refill/Consumable Revenue: Ongoing refills and consumables for the Nerivio device, with pharmacy benefit coverage enabling recurring revenue through insurance reimbursement.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | One time/ perpetual license | Prescription wearable device with insurance coverage |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
Theranica product offering
Product offeringCore offering
Theranica develops and sells Nerivio, an FDA-cleared prescription wearable device using Remote Electrical Neuromodulation (REN) to stimulate upper arm peripheral nerves and trigger Conditioned Pain Modulation (CPM) for acute and preventive treatment of migraine in adults and adolescents 8 years and older. The drug-free device is controlled via a companion smartphone app, sold through pharmacy fulfillment, telemedicine partners, and direct-to-consumer channels, with broad insurance coverage across U.S. commercial and government payers.
Product overview
Theranica develops advanced, clinically proven, safe and affordable prescription digital therapeutics for pain management, with its primary product being the Nerivio REN (Remote Electrical Neuromodulation) wearable device family. The Nerivio and Nerivio Infinity wearable devices are non-invasive, drug-free prescribed wearables that stimulate upper arm peripheral nerves to induce conditioned pain modulation (CPM) for acute and preventive treatment of migraine. The product ecosystem consists of the Nerivio/Nerivio Infinity wearable devices controlled via the Nerivio smartphone app (iOS and Android), which enables treatment control, symptom tracking, migraine diary management, and AI-powered features like the 'Your Day Ahead' forward-looking pattern recognition tool. The company harnesses Conditioned Pain Modulation (CPM), an endogenous analgesic mechanism located in the brain stem, triggered by delivering remote non-painful peripheral stimulus through the wearable.
Differentiator
Problem solved
Functional benefit
Brands
- Nerivio: FDA-cleared remote electrical neuromodulation wearable device for acute and preventive treatment of migraine in adults and adolescents (12+ years). Controlled via smartphone app.
- Nerivio REN
- Nerivio Infinity
Products and services
- Nerivio REN Wearable Device FDA-cleared prescription wearable device that uses Remote Electrical Neuromodulation (REN) to stimulate upper arm peripheral nerves and trigger Conditioned Pain Modulation for acute and preventive treatment of migraine in adults and adolescents 8 years and older. Sold via pharmacy fulfillment, telemedicine platforms, and direct-to-consumer channels, with broad insurance coverage.
- Nerivio Infinity Wearable Device Newer-generation REN wearable device for migraine treatment, covered by dedicated U.S. patents and positioned as a consumer-directed evolution of the Nerivio platform.
- Nerivio Smartphone App (iOS and Android) Companion mobile application (iOS and Android) that controls the Nerivio wearable via Bluetooth, tracks treatment sessions and symptoms, maintains a migraine diary, and delivers AI-driven features such as 'Your Day Ahead' for proactive migraine pattern prediction.
Quantifiable outcome
- Starting treatment within one hour of migraine onset nearly doubles relief outcomes
- +4 more outcomes
Companies that use Theranica
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles3 records
Theranica technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability3 records
Feature3 records
Theranica partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and strategic.
- Pier 88 HealthcoreChina NMPA approval partnership for Nerivio REN wearable for acute treatment of migraine - first and only REN-based migraine treatment approved in China
- Highmark Inc.coreFirst commercial coverage policy for Nerivio as non-pharmacological migraine treatment in the USA, covering adolescents and adults
- Dr. Reddy's Laboratories (Europe)coreAgreement for commercializing Nerivio in Europe, following news of expanded CE Mark approval for dual-use migraine treatment
- Dr. Reddy's Laboratories (India)coreAgreement for commercializing Nerivio in India, bringing the device to millions of people with migraine in India
- Veterans Administration (VA)coreAgreement to make Nerivio acute migraine therapeutic device available to veterans, addressing the veteran community with higher migraine prevalence
- Blue Cross Blue Shield AssociationcoreNationwide coverage expansion providing Blue Cross Blue Shield plan members access to Nerivio as a mainstream migraine treatment option
- MC-RxstrategicFormalized pharmacy benefit coverage for Nerivio, simplifying and accelerating patient access through prescription fulfillment
- UpScript HealthstrategicTelemedicine platform partnership enabling prescription access and home delivery of FDA-authorized Nerivio device
- CovestrategicTelemedicine platform partnership providing rapid consultation with licensed physicians and home delivery of Nerivio device
Scale indicators13 records
Recent moves6 records
Expansion highlights6 records
Theranica competitors and assessment
Company assessmentMarket position
Competitive moat5 records
Key highlights7 records
Customer concentration
Theranica social profiles
Digital presenceTheranica compliance and trust
Trust signalCompliance5 records
Theranica financial estimates
Financial estimateRevenue estimate
Valuation estimate
Theranica leadership team
Management profileNumber of profiles
Profiles18 records
Theranica subsidiaries and ownership
Company hierarchySubsidiaries1 record
Theranica funding detail
Funding detailFunding overview
Funding rounds4 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Theranica M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Theranica
What does Theranica do?
Theranica develops and sells Nerivio, an FDA-cleared prescription wearable device using Remote Electrical Neuromodulation (REN) to stimulate upper arm peripheral nerves and trigger Conditioned Pain Modulation (CPM) for acute and preventive treatment of migraine in adults and adolescents 8 years and older. The drug-free device is controlled via a companion smartphone app, sold through pharmacy fulfillment, telemedicine partners, and direct-to-consumer channels, with broad insurance coverage across U.S. commercial and government payers.
Is Theranica a public or private company?
Theranica is a private company. It is classified as venture growth investor backed and is currently operating.
When was Theranica founded?
Theranica was founded in 2016. It employs 11 to 50 people.
Where is Theranica based?
Theranica is headquartered in Netanya, Israel, in the Middle East region.
How does Theranica make money?
Two revenue lines are on record. Wearable Device Sales are the primary driver. The others are refill/Consumable Revenue.
Does Theranica have an API?
No public API is recorded for Theranica.
What industry is Theranica in?
Theranica's product category is Neuromodulation migraine devices. Its primary akta.pro industry code is HLACAFAL, Connected Therapeutics & Smart Drug Delivery Monitoring, with a secondary code of HLAKAIAM, Pain Medicine (Interventional/Neuropathic Pain). Its NAICS code is 334510 and its SIC code is 3845.