Saluda Medical Pty Ltd. announced a AU$231 million ($152.7 million) initial public offering on the Australian Securities Exchange to scale up its U.S. footprint for its Evoke spinal cord simulation system for chronic pain.

Magstim Co. Ltd. reported that the U.S. FDA cleared its Magstim Rapid magnetic stimulation system for the treatment of chronic pain. The clearance provides a clinically validated therapy that directly targets neural pathways involved in pain processing to deliver a non-invasive, drug-free treatment for chronic pain.

The U.K’s Engineering and Physical Sciences Research Council provided the University of Oxford with £11 million (US$ 14.7 million) in research funding to develop technologies that will reduce or eliminate chronic pain.

Boston Scientific Corp. moved to acquire the balance of Nalu Medical Inc. in a $533 million cash deal, expanding its chronic pain portfolio with the addition of peripheral nerve stimulation. The Nalu neurostimulation system delivers mild electrical impulses to interrupt aberrant pain signals from nerves in the shoulder, knee and lower back before they reach the brain.

Chronic pain is a constant challenge to around 20% of the global population, and treatments to mitigate such pain often cause unacceptable side effects because the receptors and signaling pathways involved in pain sensing also drive necessary processes in the heart, lungs and liver. Opioid analgesics can be effective against chronic pain, but they can lead to tolerance and addiction.

Four months after Vertex Pharmaceuticals Inc.’s U.S. FDA nod for Journavx (suzetrigine) as the first drug targeting NaV1.8 for treating pain, Eli Lilly and Co. is joining the potential competition via a buyout of Siteone Therapeutics Inc., a privately held firm developing small-molecule sodium channel inhibitors, including a phase II-ready NaV1.8 inhibitor.

Biotronik Neuro’s Prospera spinal cord stimulation system achieved more than 50% pain reduction for 86% of patients with back pain and 89% of patients with leg pain over two years, according to new study results.

Globus Medical Inc. reported it is buying Nevro Corp. in an all-cash transaction. Under the terms of the agreement, which was unanimously approved by the boards of both companies, Globus will acquire all shares of Nevro for $5.85 per share. The transaction represents a total equity value of approximately $250 million.

Electrocore Inc. Quell(ed) any concerns about its commitment to the bioelectronic health segment with an agreement to acquire Neurometrix Inc., maker of the Quell, a wearable device and cloud-enabled neuromodulation platform to treat fibromyalgia and lower extremity chronic pain. Neurometrix is expected to divest its other primary product, Dpncheck, a point-of-care screening test for diabetic peripheral neuropathy, prior to the acquisition.