Spinal Modulation

About Spinal Modulation

Spinal Modulation, Inc. operated as a medical device company focused on developing a next-generation neuromodulation therapy for the treatment of chronic pain. Founded in 2004 and based in Menlo Park, California, the company was established to address the needs of patients suffering from chronic, intractable pain conditions that were inadequately managed by existing treatments. The company's core technology was based on concepts from Stanford University and InCube Labs.

The company’s business centered on the design, development, and commercialization of its principal product, the Axium™ Neurostimulator System. This system represented a significant shift from traditional spinal cord stimulation (SCS) by specifically targeting the dorsal root ganglion (DRG), a key neural structure involved in transmitting pain signals from the peripheral nerves to the brain. By delivering mild electrical pulses directly to the DRG, the Axium system could interrupt or mask pain signals, offering targeted relief for focal pain areas that are often difficult to treat with conventional SCS. This approach was particularly beneficial for patients with chronic pain in the lower limbs, feet, and groin resulting from conditions like complex regional pain syndrome (CRPS) or nerve damage.

Spinal Modulation's business model was rooted in the sale of this implantable medical device to healthcare providers and pain management centers. After securing CE Mark approval in November 2011 and TGA approval in Australia, the company began commercializing the Axium system in Europe and Australia. A pivotal moment in the company's history occurred in June 2013, when St. Jude Medical made a $40 million equity investment, which included an exclusive option to acquire the company. This partnership provided Spinal Modulation with significant capital and an international distribution channel. The company's trajectory culminated in April 2015, when St. Jude Medical exercised its option and announced its intent to acquire Spinal Modulation for approximately $175 million, with the deal closing in May 2015. This acquisition made St. Jude Medical (later acquired by Abbott) the only manufacturer at the time to offer a comprehensive portfolio of pain management solutions, including radiofrequency ablation, traditional SCS, and DRG stimulation.