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NeuroMetrix Rceives GSK 'Bridge' For Quell Wearable Pain-Relief Development

 
• By Malcolm Spicer

Recent modifications accelerated portion of milestones remaining in firms' agreement over the next 12 months, reduced GSK's aggregate amount payable and forwarded $2m to NeuroMetrix. Firms are co-funding future development of Quell technology and additional TENS products for chronic pain beginning in 2019.

NeuroMetrix Inc. has received a $2m advance from GlaxoSmithKline PLC in a modification of the firms' agreement for GSK to provide up to $13.8m funding for development and commercialization of NeuroMetrix' Quell wearable pain-relief technology.

The modifications announced Dec. 11 accelerated a portion of milestones remaining in the firms' agreement over the next 12 months...

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