eHealth Ventures portfolio company Nervio has recently graduated from the eHV digital-health early-stage technology incubator, and following successful clinical trials is seeking partnerships and funding. Nervio’s flagship product is their AI-powered neuromonitoring system that alerts neurophysiologists during neurosurgery of evolving neurological complications in real time and prevents paralysis and neurological damage.
Every year, there are over 100,000 avoidable cases of spine surgery related paralysis due to cord and nerve injuries. Neuromonitoring has been clinically proven to prevent damage to neurological functioning, however due to a shortage of neurophysiologists and high monitoring costs more than 80% of spine surgeries worldwide are not monitored. To combat this, Nervio’s AI-driven solution allows neurophysiologists to monitor multiple cases, effectively avoiding preventable paralysis in surgeries, while scaling the global accessibility and affordability of neuromonitoring.
During their time in the eHV incubator, Nervio achieved significant clinical traction and exceptional study results in this continuously growing multi-billion-dollar market. In 2020, they entered a ten-year agreement with Clalit (Israel’s largest HMO). As part of the agreement, they conducted a successful large-scale clinical study, using over five-hundred thousand bio-signals.
During 2021, Nervio began a multi-center clinical trial, running in coordination with two hospital networks in Israel— the Rabin Medical Center and Assuta. In addition, Nervio is about to start their US clinical trials at the Rush University Medical Center in Chicago and Global Neuroscience Institute (GNI) in Philadelphia.
Nervio has carefully curated an impressive Scientific Advisory Board, with years of combined experience and expertise in the field. Joining Prof. Itzhayak, Medical Director and the Director of the Spine Surgery Unit at Rabin Medical Center, Nervio recently added to the advisory board Prof. Isador Liberman, MD – a senior orthopedic and spinal surgeon, and President of the Texas Back Institute, Professor Jay Shills – Director of the Neuromonitoring Rush University Medical Center, and Dr. Amir Kershenovich, MD – Director of the Pediatric Neurosurgery Schneider Children’s Medical Center.
Nir Zarchi, Co-Founder and CEO, explains: “Nervio has developed a groundbreaking AI-based technology which allows us to map the patients’ neurological functioning in real-time. By using our technology, we intend to turn neuromonitoring into the standard of care – making it affordable and accessible to every operating room in the world. The clinical validation gives us a high level of confidence and is attracting interest from partners and investors worldwide.”
Nervio is currently working towards the regulatory approval and market launch of their real-time monitoring product. The Company plans on developing and releasing their fully-automated neuromonitoring system that will simultaneously enable large-scale telemonitoring while minimizing neuromonitoring entry barriers.
Nervio is about to complete a round of funding, looking to raise $2.5M. The use of funds will be primarily divided between the various departments of the company including sales and marketing, research and development, and regulatory and IP.
About eHealth Ventures
The eHealth Ventures partnership is a leading investor in early-stage digital health companies.
It includes 2 VC funds and a technological incubator with an exclusive focus on digital health and significant government non-dilutive funding. Partners include Maccabi (a leading Israeli HMO), Amgen (global biotech giant), the Mayo Clinic, Medison Ventures, Arad Investments, and the Hadar Group. The team has reviewed over 1,650 companies to date and invested in a portfolio of 24 highly innovative companies (digital diagnostics, therapeutics, home care and Bioconvergence).