Cantillon: Mainstay Medical eyes back pain market

Three years to get a product to trials

Trials are starting initially in Australia as the regulatory path there was considered quicker to negotiate, according to the company’s Australian chief executive, Peter Crosby.

Trials are starting initially in Australia as the regulatory path there was considered quicker to negotiate, according to the company’s Australian chief executive, Peter Crosby.

 

It has taken three years to get a product to trials: Mainstay Medical hopes that within another two, it will have a device on the market in Europe to address the perennial problem of chronic lower back pain.

Mainstay moved to Swords in Dublin as part of a $20 million fundraising 18 months ago led by Ireland’s Fountain Healthcare Partners. It’s working on the basis that a significant portion of the 7.5 million patients in the US alone suffering from chronic back pain can trace that problem to a lack of stability in the area of an old injury.

Its answer, an implanted device that sends electrical impulses to nerves that instruct deactivated muscles in the area to contract, strengthening them and improving stability.

Feasibility test results unveiled last summer suggest Mainstay is on the right road and it has now completed development of its device. Trials are starting initially in Australia as the regulatory path there was considered quicker to negotiate, according to the company’s Australian chief executive, Peter Crosby. However, Europe and the US remain the key initial target markets for the device, and European trials will be enrolling in coming months.

Mainstay is also building itself up in other areas. It recently boosted its board with the appointment of chairman Oern Stuge, formerly in charge of Medtronic’s neurological and spinal division in Europe, the Middle East and Africa, and non-executive David Brabazon, an experienced executive in the Irish life sciences sector who has worked in Elan and was a founder of Azur Pharma (now Jazz Pharmaceuticals) and, subsequently, specialty pharma group Adapt Pharma.

The scale of the opportunity? Assuming the trials confirm the feasibility results – which, among other things, had 45 per cent of people off work on disability when they started the therapy returning to the jobs by its conclusion – Crosby said he’s not worried about running out of a potential market.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
GO BACK
Error Image
The account details entered are not currently associated with an Irish Times subscription. Please subscribe to sign in to comment.
Comment Sign In

Forgot password?
The Irish Times Logo
Thank you
You should receive instructions for resetting your password. When you have reset your password, you can Sign In.
The Irish Times Logo
Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.
Screen Name Selection

Hello

Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
Forgot Password
Please enter your email address so we can send you a link to reset your password.

Sign In

Your Comments
We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Standards. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or by filling out this form. New comments are only accepted for 3 days from the date of publication.