Stimwave Technologies

What Stimwave Technologies does

Stimwave Technologies was a privately held U.S. medical device company founded in 2010 and headquartered in Pompano Beach, Florida, that developed and commercialized wireless, microsize injectable neuromodulation devices for chronic pain management. Its product portfolio centered on two FDA-cleared systems under the Freedom® brand: the Freedom® SCS spinal cord stimulator and the Freedom® PNS peripheral nerve stimulator, both designed to deliver electrical stimulation therapy without the bulk of conventional implanted pulse generators. The underlying technology differentiated Stimwave from incumbent wired IPG-based neuromodulation systems (sold by Medtronic, Boston Scientific, Abbott, and Nevro) by miniaturizing the implant to a wirelessly powered, injectable form factor intended for simpler implantation and improved patient comfort.

The company raised approximately $115 million in disclosed equity and convertible financing across multiple rounds between 2012 and 2020, with capital concentrated in two 2018 rounds ($50 million Series 3 and a $60 million round led by E Squared Capital Management, Generation Ventures, and SV Health Investors). Its go-to-market relied on physician-channel adoption among pain-management specialists, and the company maintained both U.S. and international Instructions-for-Use documentation, indicating at least some ex-U.S. distribution. Stimwave Technologies Incorporated and Stimwave LLC filed a voluntary Chapter 11 petition in the District of Delaware on June 15, 2022; certain assets were subsequently sold to Curonix LLC on October 31, 2022. Following the sale, the original Stimwave entities ceased independent operations, and Curonix assumed responsibility for supporting previously implanted Freedom® devices and continues to offer PNS and SCS devices under its own brand.

Name

Stimwave Technologies

Legal name

Stimwave Technologies Incorporated

Website

https://stimwavefreedom.com

Company type

Private

Founded year

2010

Operating status

Closed

Headcount range

11–50 employees

Short description

Stimwave Technologies was a U.S. medical device company that developed wireless, microsize injectable neuromodulation systems — the Freedom PNS and Freedom SCS — for chronic pain patients. It filed Chapter 11 in 2022 and sold its assets to Curonix LLC, ceasing independent operations.

Ownership category

akta.pro rank

Product category

Implantable Neuromodulation 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)

Keywords

• Neuromodulation devices
• Spinal cord stimulation
• Peripheral nerve stimulation
• Chronic pain management
• Implantable medical devices

Headquarters

HQ city

Pompano Beach

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Core offering

Stimwave Technologies developed and marketed wireless, microsize, injectable neuromodulation devices for chronic pain management. Its principal products were the Freedom SCS spinal cord stimulation system and the Freedom PNS peripheral nerve stimulation system, both delivering electrical stimulation therapy via fully implanted, leadless stimulators. The company ceased independent operations after a Chapter 11 filing in June 2022, with assets acquired by Curonix LLC in October 2022.

Product overview

Stimwave Technologies offered a portfolio of neuromodulation devices for chronic pain management, specifically the Freedom® SCS (Spinal Cord Stimulation) and Freedom® PNS (Peripheral Nerve Stimulation) systems. These wireless, implantable neurostimulation devices provided electrical stimulation to treat chronic pain conditions. The company filed for Chapter 11 bankruptcy protection in June 2022 and certain assets were subsequently purchased by Curonix LLC in October 2022. The Freedom® product line is no longer manufactured under the Stimwave name, with Curonix continuing to provide support for previously implanted devices and offering currently available peripheral nerve and spinal cord stimulation devices.

Differentiator

Problem solved

Functional benefit

Brands

• Freedom SCS: Spinal cord stimulation device system
• Freedom PNS

Products and services

• Freedom SCS

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Curonix LLCmajorOthers · 31 October 2022Curonix LLC purchased Stimwave assets following the bankruptcy sale on October 31, 2022. Curonix is providing ongoing support for previously implanted Stimwave devices (Freedom® PNS and Freedom® SCS) and is working with physicians to maintain patient care. Curonix now offers peripheral nerve and spinal cord stimulation devices under its own brand.

Recent moves7 records

Expansion highlights2 records

Direct peers

• Nevro Corp: Nevro is a direct competitor in spinal cord stimulation, offering the Senza and HFX platforms for chronic pain. Like Stimwave's Freedom SCS, Nevro targets interventional pain specialists and neurosurgeons with implantable neurostimulators.
• Curonix LLC: Curonix acquired Stimwave's assets in October 2022 and now markets PNS and SCS devices under its own brand. It is effectively the commercial successor to Stimwave's Freedom product line.

Broad incumbents

• Medtronic: Medtronic is the largest incumbent in neuromodulation, offering Intellis with Vanta for SCS and a broad PNS portfolio. It competes directly with Stimwave's Freedom SCS and Freedom PNS in the same physician call points.
• Boston Scientific: Boston Scientific offers the Precision Spectra, WaveWriter Alpha, and Montage MRI SCS systems, competing head-to-head with Freedom SCS in U.S. interventional pain practices.
• Axonics: Axonics is a neuromodulation company best known for sacral neuromodulation but expanding into SNS and other indications, sharing Stimwave's implantable neurostimulator category and physician customer base.

Others

• Abbott: Abbott (via St. Jude Medical) markets the Proclaim XR and Eterna SCS systems plus Proclaim DRG for neuropathic pain, directly overlapping Stimwave's Freedom SCS in chronic pain indications.

Emerging players

• Nalu Medical: Nalu Medical develops a miniaturized, externally-powered neurostimulator for PNS and SCS, conceptually similar to Stimwave's wireless micro-implant approach and targeting the same chronic pain use cases.
• Saluda Medical: Saluda Medical markets the Evoke closed-loop SCS system and is developing a next-generation Evoke SmartSpine platform, competing directly with Freedom SCS in the chronic pain neuromodulation segment.
• SPR Therapeutics: SPR Therapeutics focuses on peripheral nerve stimulation (the Sprint PNS system), a direct competitor to Stimwave's Freedom PNS in treating chronic and post-surgical pain.
• Mainstay Medical: Mainstay Medical develops the ReActiv8 restorative neurostimulation system for chronic low back pain, overlapping with Stimwave's clinical positioning in neuromodulation for chronic pain.

Market position

Strengths2 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights4 records

Customer concentration

• Xx.com/Stimwave
• Facebookfacebook.com/stimwave
• LinkedInlinkedin.com/company/stimwave-technologies

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds9 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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

Frequently asked questions about Stimwave Technologies