FOR IMMEDIATE RELEASE

Synaptrix Announces Second Close of Series A, Securing an Additional $13M to Accelerate Development of NOVABLOC™, a drug-free solution for post-surgical pain management and elimination of opioids

Atlanta, GA - December 2024 – Synaptrix, a medical device company developing a drug-free solution for postoperative pain, is excited to announce the second close of its Series A funding round, bringing an additional $13 million in investments. This follows the successful first close of $10 million earlier this year, bringing the total Series A funding to $13 million. The funding will advance pivotal studies, regulatory submission, and commercialization of the company’s groundbreaking NOVABLOC™ system.

“Modern day treatments for postoperative pain management are largely insufficient. They are either plagued by short-lasting pain control, limit physical rehabilitation, or invite opioid use,” said Founder and CEO Shyamy Sastry. “The NOVABLOC™ system is a groundbreaking neuromodulation technology designed to deliver 20+ days of pain relief without impacting motor function or touch. Altogether, the system treats postoperative pain for days to weeks while promoting rehabilitation and reducing the need for opioids.”

NOVABLOC™ is a first-in-class neuromodulation technology designed to provide long- lasting postoperative pain relief while preserving motor function and the sense of touch. Initially targeting total knee arthroplasty (TKA) procedures, the system has demonstrated promising results in clinical studies. A sham-controlled feasibility study involving 32 TKA patients showed that NOVABLOC™ delivered 20 days of pain relief, reduced opioid consumption, and improved functional outcomes, enabling faster rehabilitation.

The Series A round was led by Hatteras Venture Partners, with participation from Rex Health Ventures, Avanos Medical, Portal Innovations, and other partners. “We are impressed with the clinical data developed so far and believe that this technique could represent a major benefit to patients undergoing this often-painful TKA surgery and the subsequent difficult physical therapy rehabilitation,” said Doug Reed, MD, Lead Investor and Partner at Hatteras Venture Partners.

The funds raised in the second close will bolster ongoing pivotal trials and expand commercial readiness activities for NOVABLOC™. Synaptrix remains committed to addressing the opioid crisis by providing a safer, more effective solution for pain management.

For more information on Novabloc™, visit novabloc.com or contact:

Media contact: Julianna Musgrove, Julianna.Musgrove@synaptrix.net

Study contact: Dan Guerrero, MS, Dan.Guerrero@synaptrix.net

About Synaptrix

Synaptrix is a clinical-stage medical technology company based in Atlanta, Georgia, dedicated to revolutionizing the post-surgical experience by eliminating the need for opioids. Backed by a leadership team with decades of experience in medtech innovation and commercialization, Synaptrix is advancing a new standard in pain management through proprietary neuromodulation science.

This release describes our product, which has not been approved or cleared for marketing by the U.S. Food and Drug Administration and is considered an investigational device.

1 Upfill-Brown A, Hsiue PP, Sekimura T, Shi B, Ahlquist SA, Patel JN, Adamson M, Stavrakis AI. Epidemiology of Revision Total Knee Arthroplasty in the United States, 2012 to 019. Arthroplast Today. 2022 May 21;15:188-195.e6. doi: 10.1016/j.artd.2022.03.004. PMID: 35774881; PMCID: PMC9237286.