Mainstay Medical Holdings plc raised $125 million in equity financing which it will use to conduct clinical trials and continue the commercial roll out of its Reactiv8 neurostimulation therapy that treats chronic lower back pain.

Mainstay Medical Holdings plc released data from a one-year, real-world, study of patients implanted with a neurostimulation device to treat chronic lower back pain.

Mainstay Medical Holdings plc has won U.S. FDA approval for its Reactiv8 implantable neurostimulation device. The company is eyeing a commercial launch of the system in early 2021. The FDA approved Reactiv8 as an aid in managing intractable chronic low back pain associated with multifidus muscle dysfunction in adults who have failed therapy and are not candidates for spine surgery.