Image credit- uniqaholic.com
GlaxoSmithKline (GSK) has teamed up with US-based healthcare company NeuroMetrix to develop and expand the Quell wearable technology for pain relief. Under the deal, GSK’s Consumer Healthcare unit will obtain exclusive ownership of the Quell technology in markets outside the US, while NeuroMetrix will retain its rights in the country.
Designed to treat chronic pain, Quell is an over-the-counter therapeutic device that can be personalised and managed through the Quell app. The wearable technology also enables health tracking relevant to chronic pain patients, including pain, sleep, activity, and gait.
NeuroMetrix is set to receive a payment of $5m from GSK for Quell-related assets, as well as up to $21.5m on reaching certain development and commercialisation milestones. Starting this year, GSK Consumer Healthcare and NeuroMetrix will co-fund development of the technology over three years through 2020, with scope for subsequent annual renewals.
