PathMaker Neurosystems

What PathMaker Neurosystems does

PathMaker Neurosystems is a clinical-stage neuromodulation company founded in 2015 and headquartered in Boston, Massachusetts, with additional operations in Providence, Rhode Island and at the Brain and Spine Institute (ICM) in Paris, France. The company develops non-invasive medical devices based on its proprietary Multi-Site Direct Current Stimulation (Multi-Site DCS) technology, which delivers synchronized trans-spinal and peripheral stimulation via skin-surface electrodes to suppress motor neuron hyperexcitability and activate protein degradation pathways. Its lead product platform consists of the MyoRegulator PM-2200 (for post-stroke spasticity) and the MyoRegulator ALS (for amyotrophic lateral sclerosis), both implemented through the company's DoubleStim technology.

The company's go-to-market is enterprise-focused and clinical-credibility-driven. It conducts human clinical trials at leading academic medical centers including Spaulding Rehabilitation Hospital, Beth Israel Deaconess Medical Center, Northwell Health/Feinstein Institute, and ICM in Paris, with peer-reviewed publications and conference presentations forming its primary awareness channels. The company is pre-revenue and pre-commercial; the MyoRegulator devices are investigational and limited by US Federal law to investigational use only. Future revenue is expected from medical device sales to hospitals and clinics, with a potential at-home distribution model for the ALS indication.

To date, PathMaker has been funded entirely through approximately $8.9 million in non-dilutive grants and awards from government agencies (NIH/NINDS, U.S. Department of Defense), disease foundations (Muscular Dystrophy Association, CERF), and state-level life science programs (Massachusetts Life Sciences Center, MassVentures, Rhode Island Life Sciences Hub), with no disclosed traditional venture capital. The company holds over 70 issued patents globally, and in December 2025 the MyoRegulator received FDA Breakthrough Device Designation for ALS, accelerating the regulatory pathway.

Name

PathMaker Neurosystems

Legal name

PathMaker Neurosystems Inc.

Website

https://pmneuro.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

PathMaker Neurosystems is a clinical-stage neuromodulation company developing non-invasive Multi-Site Direct Current Stimulation devices (MyoRegulator platform) to treat ALS and muscle spasticity without drugs or surgery.

Ownership category

akta.pro rank

Product category

Neuromodulation Medical Devices

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)

SIC

Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Implantable Neuromodulation & Neurostimulation (SCS/DBS/VNS/PNS) (HLAHAEAK)

akta.pro secondary industries

Neuromuscular Medicine (ALS, Myasthenia, Neuropathy) (HLAKAIAD), Neurologic Rehabilitation (Stroke, TBI, Parkinson’s, MS) (HSADAIAC)

Keywords

• Non-invasive neuromodulation
• Medical device development
• ALS treatment devices
• Spasticity therapy devices
• Bioelectronic medicine

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Medical Device Sales: Pre-revenue clinical-stage company. Revenue expected from commercialization of MyoRegulator device for treatment of ALS and spasticity upon FDA approval. Device is being developed for both clinical setting and at-home use.
2. Device Rental/Leasing: Company is developing MyoRegulator ALS for at-home use, suggesting potential future revenue model around device provision to patients for home treatment.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

PathMaker Neurosystems is a clinical-stage neuromodulation company developing non-invasive medical devices that deliver Multi-Site Direct Current Stimulation (Multi-Site DCS) to suppress neuronal hyperexcitability and activate protein degradation pathways. The company is commercializing two investigational devices: MyoRegulator PM-2200 for treating muscle spasticity (including post-stroke spasticity) and MyoRegulator ALS for slowing ALS disease progression. Both products use the proprietary DoubleStim technology to deliver synchronized stimulation via skin-surface electrodes without surgery or drugs.

Product overview

PathMaker Neurosystems has developed a first-in-class neuromodulation platform based on proprietary Multi-Site DCS (direct current stimulation) technology. The platform consists of the MyoRegulator PM-2200 for treating muscle spasticity (including post-stroke spasticity) and the MyoRegulator ALS for treating ALS disease progression. Both products utilize DoubleStim technology for non-invasive suppression of hyperexcitable motor neurons. The MyoRegulator family of devices delivers synchronized multi-site stimulation via skin-surface electrodes to modulate neural circuits and activate protein degradation pathways. Both products are investigational medical devices limited to investigational use only.

Differentiator

Problem solved

Functional benefit

Products and services

• MyoRegulator PM-2200 A first-in-class non-invasive neuromodulation device using proprietary DoubleStim technology for treating muscle spasticity. Delivers simultaneous stimulation at spinal and peripheral sites to suppress hyperexcitable spinal circuits. FDA Breakthrough Device designated. Investigational use only.
• MyoRegulator ALS

Quantifiable outcome

• 74% increase in survival time from disease onset in SOD1-G93A ALS mouse model treated with Multi-Site DCS
• +3 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and supporting.

• Spaulding Rehabilitation HospitalcoreStrategic or Co-development PartnerSpaulding Rehabilitation Hospital serves as primary clinical trial site for ALS feasibility study and CALM study. The hospital's Spaulding Neuromodulation Center and research team collaborate on clinical investigation of MyoRegulator device for ALS and spasticity treatment.
• Beth Israel Deaconess Medical CentercoreStrategic or Co-development PartnerBIDMC is a clinical trial site for the CALM study, led by Dr. Seward Rutkove (Chair, Department of Neurology) and Dr. Courtney McIlduff (Director of Multi-Disciplinary ALS Clinic). Part of Harvard Medical School teaching affiliate network.
• ICM - Brain and Spine Institute (Paris)supportingStrategic or Co-development PartnerParis Brain Institute at Pitié-Salpêtrière Hospital serves as European research partner and hosted the SPAST pivotal trial for post-stroke spasticity. Company has Paris office located at ICM campus.
• CUNY / College of Staten IslandcoreStrategic or Co-development PartnerProf. Zaghloul Ahmed's laboratory at CUNY/College of Staten Island conducts pre-clinical research. Prof. Ahmed is Scientific Founder of PathMaker and his research group pioneered the Multi-Site DCS technology.

Scale indicators5 records

Recent moves7 records

Expansion highlights7 records

Broad incumbents

• Novocure: Public medtech company pioneering tumor treating fields (TTFields), a non-invasive electrical field therapy. Board member Pritesh Shah came from Novocure. Comparable as a non-invasive, electricity-based therapy company targeting serious neurological and oncological diseases, with a similar go-to-market through specialty clinicians.
• NeuroPace: Public company developing RNS System, a closed-loop neurostimulation device for epilepsy. Comparable as a neurological device company with FDA-approved neuromodulation technology targeting underserved CNS indications, though NeuroPace is implantable rather than non-invasive.
• Inspire Medical Systems: Public company marketing Inspire UAS system, an implantable neurostimulation device for obstructive sleep apnea. Comparable as a successful neuromodulation company that scaled from start-up to public company, providing a relevant exit/commercialization benchmark for PathMaker.

Direct peers

• ElectroCore: Commercial-stage non-invasive vagus nerve stimulation (nVNS) company developing gammaCore device for headache, epilepsy, and other neurological indications. Closely comparable to PathMaker as a non-invasive neuromodulation company with FDA-cleared devices, multiple indication expansion, and similar regulatory pathway.
• Helius Medical Technologies: Developer of Portable Neuromodulation Stimulator (PoNS) for treatment of neurological symptoms including traumatic brain injury and multiple sclerosis. Directly comparable as a clinical-stage non-invasive neuromodulation company pursuing FDA pathway in neurological indications.
• Saluda Medical: Developer of Evoke closed-loop spinal cord stimulation system for chronic pain. Comparable as a clinical-stage neuromodulation company developing next-generation neurostimulation technology with similar regulatory and reimbursement challenges in the neurological device space.
• Cala Health: Developer of Cala Trio and Cala kIQ, wearable non-invasive neuromodulation devices for essential tremor and Parkinson's disease. Closely comparable to PathMaker as a non-invasive, wearable neurostimulation company targeting movement and neurological disorders with FDA-cleared devices.

Emerging players

• MicroTransponder: Developer of Vivistim system, an implantable vagus nerve stimulation device paired with rehabilitation therapy for stroke recovery. Comparable as a neurostimulation company pursuing post-stroke rehabilitation, an overlapping indication with PathMaker's MyoRegulator spasticity program.
• BrainGate (Brown University consortium): Research consortium pioneering brain-computer interface technology led by PathMaker board member John Donoghue. Comparable as a neurotechnology effort in serious neurological disorders; relevant given leadership overlap though BrainGate is research-stage BCI rather than therapeutic stimulation.
• Soterix Medical: Developer of non-invasive brain stimulation technologies including transcranial direct current stimulation (tDCS) and high-definition tDCS for research and clinical applications. Comparable as a non-invasive electrical neuromodulation technology company with overlapping technical approaches to PathMaker's Multi-Site DCS.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/pathmakerneuro

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds7 records

Investors5 records

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PathMaker Neurosystems