WALTHAM, Mass., Aug. 21, 2018 (GLOBE NEWSWIRE) -- NeuroMetrix, Inc. (Nasdaq: NURO), today reported that it had
achieved the second development milestone under its strategic collaboration with GSK Consumer Healthcare. A milestone payment of
$3.8 Million was made by GSK.
The collaboration with GSK was reported in January 2018. GSK acquired exclusive ownership of the Quell® technology
for markets outside the United States in exchange for a $5M upfront payment and up to $21.5 million, upon the achievement of
certain development and commercialization milestones. In addition, NeuroMetrix and GSK will co-fund Quell technology development
for an initial two-year period starting in 2019 with extensions by mutual agreement.
About Quell
Quell is an advanced, wearable technology for treating chronic pain. It can be worn during the day while active and at night
while sleeping. Quell is drug-free and has been cleared by the FDA for treatment of chronic pain without a prescription. Quell has
been shown in multiple clinical studies to relieve chronic pain and, in a published study, 4 out of 5 users reported improvement in
chronic pain. Quell users can personalize and manage therapy discreetly via the Quell app. Quell also offers health
tracking relevant to chronic pain sufferers including pain, sleep, activity, and gait. Quell users can synchronize their data with
the Quell Health Cloud, which provides customized feedback and powers one of the world’s largest chronic pain databases. Quell is
available online and through select retailers. Visit QuellRelief.com for more information.
About NeuroMetrix
NeuroMetrix is an innovation driven healthcare company combining neurostimulation and digital medicine to address chronic health
conditions including chronic pain, sleep disorders, and diabetes. The company's lead product is Quell, an over-the-counter wearable
therapeutic device for chronic pain. The company also markets DPNCheck®, a rapid point-of-care test for diabetic
neuropathy, which is the most common long-term complication of Type 2 diabetes. For more
information, please visit NeuroMetrix.com.
NeuroMetrix, Inc.
Thomas T. Higgins, 781-314-2761
SVP and Chief Financial Officer
neurometrix.ir@neurometrix.com
Source: NeuroMetrix, Inc.
