Profile: NeuroMetrix, Inc. (NURO.O)

NeuroMetrix, Inc. is a science-based medical device company advancing patient care through the development and commercialization of products that aid physicians in the assessment, treatment, and repair of peripheral nerve and spinal cord injuries and disorders, and that provide regional anesthesia and pain control. The Company market systems for the performance of nerve conduction studies and needle electromyography procedures. They have two medical devices cleared by the United States Food and Drug Administration (FDA) that are used for the assessment of neuropathies. The first device is the ADVANCE NCS/EMG System, a platform for the performance of nerve conduction studies and needle electromyography procedures. This system is used by neurologists, physical medicine and rehabilitation (PM&R), physicians, neurosurgeons, orthopaedic, hand surgeons and pain medicine physicians. The second device is the NC-stat System, an automated device for the performance of nerve conduction studies.

NeuroMetrix Products

The point-of-service neurodiagnostic solution is known as the NC-stat System. The NC-stat System is composed of disposable single use electrodes that are placed non-invasively on the patient's body; the NC-stat device and related component, and the NC-stat docking station, an optional device that enables the physician to transmit data to the onCall Information System. The NC-stat System assists the physician in examining the patient in a manner that may be effective for the patient and third-party payer. The onCall Information System also provides the NC-stat customers with report creation, device management, data archiving and other services that are accessible, through the Web, e-mail, and facsimile.

The ADVANCE System is a platform for the performance of nerve conduction studies and needle electromyography procedures. The ADVANCE System is composed of single use surface electrodes and needles; the ADVANCE device and related modules, and a communication hub that enables the physician's office to network their device to the onCall Information System for data archiving, report generation and other network services. The technical specifications include a precision electrical stimulator and dual recording channels for acquiring nerve conduction responses. A third channel is available for recording needle electromyography signals. The ADVANCE System introduces several important technological improvements into the market, including a small form factor and power from a high capacity lithium-ion battery making use of the device convenient in many environments. The amplification and digitization hardware is embedded in the cable connector thereby providing digital signal transmission from the recording electrodes to the device. This technology reduces susceptibility to electrical interference and makes the device suitable for all settings, even challenging applications such as nerve function assessment in intensive care units. The device is designed around a color touch screen that facilitates real-time review and editing of nerve conduction waveforms. Integrated Bluetooth provides convenient wireless communication with data management and report generation servers. This wireless link also enables expansion of system capabilities with the introduction of modules in the future. Finally, several enhancements have been made to the NeuroMetrix neurophysiological analysis software, which is resident on ADVANCE devices.

The Company market a range of consumables and accessories for use with the neurodiagnostic equipment. These include the nerve specific electrodes which are single use, self-adhesive, electrode arrays that are placed on the body and connected to the neurodiagnostic device. The Company sell nerve specific electrodes for six nerves. The electrodes are designed to be positioned according to common anatomical landmarks with a configuration that facilitates correct placement. The Company also market the UNIVERSAL electrodes, which are individually placed and may be used to test any nerve at distal and proximal locations. The Company also market EMG needles and various cables and other accessories for performing nerve conduction studies and needle electromyography procedures.

The Company competes with Cardinal Healthcare, Cadwell Laboratories, Inc., Natus and Neumed, Inc.