Spark Biomedical Inc Risk Report

🛡️ Financial & Liquidity

Spark Biomedical has successfully secured funding, enhancing its financial health. The company closed a $15 million Series A round, indicating investor confidence and providing a significant cash infusion for future operations. This funding highlights the company's growth potential and commitment to expanding its wearable neurostimulation therapies.

• Spark Biomedical closed a $15 million Series A funding round 🗓 April 30, 2025, to advance wearable neurostimulation technologies.
• The company raised $15 million Series A funding 🗓 April 30, 2025, facilitating the progress of drug-free wearable neurostimulation therapies.
• Spark Biomedical was granted $2.49 million from the National Institutes of Health 🗓 November 16, 2021, contributing to its financial health.

⚖️ Legal & Regulatory

Maintaining compliance across borders, Spark Biomedical achieved regulatory approval in Canada, further legitimizing its products. Having received Health Canada's license, Spark Biomedical demonstrates dedication to meeting international medical standards and expanding its market footprint.

• Spark Biomedical received Health Canada's medical device license for Sparrow Ascent opioid withdrawal treatment 🗓 March 5, 2025.

📜 Innovation & R&D

The company's commitment to innovation is strong, with multiple initiatives demonstrating leadership in medical device technology. Spark Biomedical's new CMS codes for its neurostimulation therapy underline its pioneering advancements in healthcare solutions. The company continues to explore the therapeutic potentials of neuromodulation through various trials and product developments.

• Spark Biomedical was issued new CMS codes for transcutaneous auricular neurostimulation (TAN®) therapy 🗓 August 28, 2024.
• They launched telehealth services for opioid withdrawal relief devices 🗓 August 14, 2023, improving access to treatment.
• Their Sparrow® Ascent device received FDA clearance for adult opioid withdrawal relief 🗓 July 11, 2023.
• Spark Biomedical introduced Sparrow Link, a research platform for non-invasive neurostimulation 🗓 September 5, 2024.
• They formed a partnership with Battelle to advance bioelectric solutions for opioid use disorder 🗓 April 5, 2022.