Company Overview

NeurAxis, Inc. is a commercial-stage medical technology company focused on the development and commercialization of neuromodulation therapies for chronic and debilitating conditions, primarily within the gastrointestinal (GI) and neurological disease markets. The company operates at the intersection of medical devices and bioelectronic medicine, delivering non-pharmacologic treatment options designed to modulate nerve pathways to alleviate pain and dysfunction. NeurAxis’ business is centered on outpatient and office-based therapeutic solutions reimbursed through established medical billing codes, making reimbursement a key revenue driver.

The company’s core product platform is its percutaneous electrical nerve field stimulation (PENFS) technology, marketed under the IB-Stim® brand, which is FDA-cleared for functional abdominal pain associated with irritable bowel syndrome (IBS) in pediatric patients. NeurAxis has positioned itself as a first mover in non-invasive neuromodulation for pediatric GI disorders, with a strategy focused on expanding indications, age ranges, and clinician adoption. Founded in 2016, the company has evolved from a development-stage enterprise into a revenue-generating commercial organization following FDA clearance and subsequent U.S. market rollout.

Business Operations

NeurAxis generates revenue primarily through the sale and utilization of its IB-Stim® device, which is prescribed by physicians and administered in clinical settings. The company’s operations are largely focused on commercialization, clinical education, and reimbursement support, rather than large-scale manufacturing. Production of its neuromodulation devices relies on specialized third-party manufacturing partners, while NeurAxis retains control over product design, regulatory strategy, and intellectual property.

Commercial activities are concentrated in the United States, where the company supports pediatric gastroenterologists, pain specialists, and select primary care providers through a direct sales organization. NeurAxis also invests in clinical research and post-market studies to support expanded indications and payer coverage. Its business model is supported by recurring usage driven by treatment protocols rather than one-time capital equipment sales, aligning revenue with patient treatment cycles.

Strategic Position & Investments

Strategically, NeurAxis is focused on expanding its neuromodulation platform beyond its initial pediatric IBS indication into additional GI disorders, neurological conditions, and broader age populations, including adults. Growth initiatives emphasize label expansion, increased physician adoption, and deeper penetration of reimbursed care pathways. The company has publicly indicated interest in leveraging its core PENFS technology across multiple indications without materially changing the underlying device architecture.

NeurAxis’ investment priorities center on clinical trials, regulatory submissions, and intellectual property development rather than large-scale acquisitions. The company does not currently report material acquisitions or joint ventures, but it maintains a portfolio of patents related to neuromodulation and nerve field stimulation. Emerging areas of interest include chronic pain, functional GI disorders beyond IBS, and other conditions where non-opioid, non-pharmacologic interventions are increasingly favored by providers and payers.

Geographic Footprint

NeurAxis is headquartered in Carmel, Indiana, and its operational footprint is primarily concentrated in the United States. The company’s commercial activities, regulatory approvals, and reimbursement strategies are U.S.-centric, reflecting its reliance on FDA clearance and U.S. healthcare payment systems. Most revenues to date are generated domestically through U.S. healthcare providers.

While international commercialization is not yet a significant contributor to revenue, NeurAxis has indicated long-term interest in expanding into international markets, particularly regions with established medical device reimbursement frameworks. As of the most recent public disclosures, international operations remain limited, and the company does not report material foreign subsidiaries or manufacturing facilities outside the U.S.

Leadership & Governance

NeurAxis is led by a management team with experience in medical devices, commercialization, and healthcare innovation. The leadership emphasizes disciplined commercialization, clinical evidence generation, and payer engagement as core elements of its strategic vision. Corporate governance follows standard public company practices, with oversight provided by an independent board of directors.

Key executives include:

• Brian Carrico – President & Chief Executive Officer
• Michael E. Schwartz – Chief Financial Officer
• Brad Schamberger – Chief Commercial Officer
• Thomas Knudsen – Chief Operating Officer

The executive team’s stated philosophy centers on expanding access to neuromodulation therapies through evidence-based medicine, scalable commercial infrastructure, and alignment with evolving healthcare reimbursement and pain management priorities.