Tivic Health Systems Inc.
09/17/2024 | Press release | Distributed by Public on 09/17/2024 07:01
Tivic Health Accelerates VNS Commercial Strategy Development Form 8 K
Tivic Health Accelerates VNS Commercial Strategy Development
Partners with leading growth strategy firm, Fletcher Spaght
SAN FRANCISCO - (Business Wire) - September 17, 2024 -Tivic Health® Systems, Inc. ("Tivic Health", Nasdaq: TIVC), a health tech company that develops and commercializes bioelectronic medicine, today announced it has partnered with Fletcher Spaght ("FSI"), a leading healthcare growth strategy firm, to accelerate development of its commercial strategy for non-invasive cervical vagus nerve stimulation ("ncVNS").
Polaris Market Research estimates the global vagus nerve stimulation market will grow from $8.59 billion in 2021 to $21.3 billion in 2030, a 10.6% CAGR over the forecast period. Additionally, IDTechEx has forecast peripheral nerve stimulation, the segment targeted by Tivic Health, will grow at 35% CAGR, one of the fastest growth segments in bioelectronic medicine.
FSI Partner, Bill Sigona, stated, "FSI excels at projects like this, where our insights help clients like Tivic grow while improving patient healthcare. Bringing innovative technologies like ncVNS to market drives us, and we're excited to support Tivic's journey in advancing care across multiple therapeutic areas."
The firm has begun a comprehensive market assessment of Tivic Health's ncVNS technology drawing from clinical outcomes from Tivic Health's Phase 1 trial. Fletcher Spaght initially identified approximately 30 potential medical use cases for Tivic Health's ncVNS technology in neurologic, cardiac, psychiatric and autonomic nervous system diseases. The firm is now working closely with Tivic Health's scientific and clinical leadership to identify the strongest market entry point by interviewing clinical key opinion leaders, patients and payers.
"The work with Fletcher Spaght will help us sharpen our go-to-market strategy, clinical study plans, reimbursement pathway, and product development pipeline for our vagus nerve stimulation program," explained Jennifer Ernst, CEO of Tivic Health. "The early outcomes from the engagement confirm there are significant market opportunities for our novel non-invasive bioelectronic therapies."
Tivic Health has previously announced the successful completion of a Phase 1 trial, in which the company's ncVNS produced strong physiological effects in neurological, cardiac, and autonomic
systems. Tivic Health engaged Fletcher Spaght to help evaluate and prioritize clinical use cases for Tivic's ncVNS platform. The company expects to derive insights that will drive the company's clinical strategy and product development in 2025 and beyond.
About Tivic Health
Tivic Health is a commercial health tech company advancing the field of bioelectronic medicine. Tivic Health's technology platforms leverage stimulation of the trigeminal, sympathetic, and vagus nerve structures. Tivic Health's non-invasive and targeted approach to the treatment of inflammatory chronic health conditions gives consumers and providers drug-free therapeutic solutions with high safety profiles, low risk, and broad applications. Tivic Health's first commercial product ClearUP is an FDA approved, award-winning, handheld bioelectronic sinus device. ClearUP is clinically proven, doctor-recommended, and is available through online retailers and commercial distributors. For more information visit http://tivichealth.com @TivicHealth
About Fletcher Spaght
Fletcher Spaght (FSI) has a 40-year history of professional excellence. Renowned for its analytical rigor and operational expertise, FSI crafts effective growth strategies for a wide range of clients, including major healthcare corporations, private equity firms, and innovative startups. With thousands of successful engagements, FSI has played a key role in launching numerous companies, facilitating hundreds of strategic transactions, and managing over $130 million in venture capital investments.
Forward-Looking Statements
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