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Device Investors Look for Gains in Pain

In 2009, investors quietly invested in seven different start-ups develoipng devices for pain. Why the sudden interest? Interventional pain is on the rise as a specialty, large numbers of patients with chronic pain need better therapies, and relative to other emerging device sectors, pain offers large markets but lower clinical, regulatory and market risks.

Venture capitalists have endured their fair share of pain over recent years, at least in a financial sense. But their discomfort completely pales in comparison to those millions of people across the globe who must endure the misery of chronic pain or suffer from the side effects of the drugs they take to relieve it. So it's fitting that venture device investors might find relief from their own fiscal and regulatory misery by investing in companies that someday might help those people forced to life with the real thing.

Venture capitalists clearly see huge potential. In the past year, according to Elsevier's Strategic Transactions, 20 pharmaceutical companies and seven...

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