MedRhythms Raises $25M for Stroke Rehabilitation Technology

MedRhythms Secures $25 Million in Series B Funding

MedRhythms has successfully obtained $25 million in Series B funding, dedicated to the advancement of its innovative digital therapy platform.

This platform is specifically designed to assess and enhance an individual’s walking ability following a neurological injury or illness.

Investment Details

The funding round was jointly led by Morningside Ventures and Advantage Capital, with additional participation from Werth Family Investment Associates.

To date, the Portland, Maine-based company has raised a total of $31 million in funding.

Company Origins and Mission

Brian Harris, co-founder and CEO of MedRhythms, initially trained as a neurologic music fellow at Spaulding Rehabilitation Hospital in Boston.

During his work with stroke and brain deficit patients utilizing music therapy, he observed a significant demand for continued access to similar care outside of a hospital setting.

Recognizing a gap in available solutions, Harris, alongside entrepreneur Owen McCarthy, established MedRhythms in 2016.

The Technology Behind the Therapy

The company’s platform integrates sensors, musical elements, and specialized software.

It leverages an evidence-based approach known as “rhythmic auditory stimulation” to target the neural pathways responsible for movement control.

This technology utilizes the principle of “entrainment,” a neurological phenomenon where the brain’s auditory and motor systems synchronize with an external rhythmic stimulus.

Over time, this synchronization can contribute to improvements in walking functionality.

The Power of Music in Neuroplasticity

“Music uniquely stimulates the brain,” Harris explained.

“Engagement with music facilitates neuroplasticity, fostering the creation of new neural connections and strengthening existing ones.

Neuroplasticity is the mechanism through which learning occurs and allows individuals with brain deficits to experience improvement.”

FDA Designation and Future Pipeline

MedRhythms’ digital therapeutic received Breakthrough Device designation from the U.S. Food and Drug Administration last year.

This designation is for the treatment of chronic walking difficulties stemming from stroke.

It represents the first product in the company’s pipeline, which also explores the application of music therapy for neurological conditions such as Parkinson’s disease, acute stroke, and multiple sclerosis.

Currently, the company is involved in a neuroimaging study conducted in collaboration with Massachusetts General Hospital.

Plans for the Future

Harris plans to allocate the Series B funding towards bringing the product to market, expanding the team, and broadening the treatment pipeline.

The company is preparing its submission to the FDA to facilitate a commercial launch and initiate clinical trials.

Investor Perspective

Stephen Bruso, an investment partner at Morningside, has been acquainted with the MedRhythms team for a year.

His firm actively invests in the digital health sector and has been closely monitoring the company’s progress.

The Shift Towards At-Home Therapy

Bruso noted that the COVID-19 pandemic significantly altered healthcare delivery methods.

Traditional hospital and clinic models, while established, proved resistant to change until the pandemic necessitated a shift towards telemedicine and at-home care.

He anticipates continued improvements in both patient adherence and recovery rates with the expansion of at-home therapy options, and believes MedRhythms is well-positioned to capitalize on this trend.

Non-Pharmaceutical Neurological Intervention

A key factor that attracted the firm was the potential to influence the brain without relying on pharmaceutical interventions.

“MedRhythms’ utilization of musical intervention to drive neurological changes and improvements is particularly compelling,” Bruso stated.

“Music is deeply connected to emotional memory, offering a more enriching experience than medication, and the company is dedicated to harnessing this power.”