March 24th, 2023
Natixis Partners advised the shareholders of Sublimed on the sale to Expanscience
Sublimed is a MedTech startup developing medical devices to relieve chronic pains. The company was founded in October 2015 by Nicolas Karst, CEA engineer and Dr. Jean-Pierre Alibeu, former Head of the Pain Center Department of Grenoble University Hospital. Sublimed developed Transcutaneous Electrical Nerve Stimulation (TENS) for the symptomatic treatment of pain, allowing chronic patients on painkillers to benefit from effective drug-free alternative treatments. Thanks to its miniature, ergonomic design and long-lasting battery, it allows a durable and discreet daily utilization and limits patient stigmatization. The device is CE-marked and FDA-approved for the treatment of chronic pain, including osteoarthritis pain which is one of the strategic development focuses for Sublimed. The company distributes its products exclusively through the medical prescription channel. To date, more than 20,000 patients have already used Sublimed’s medical devices to relieve their chronic pain. The acquisition by Expanscience is the result of a longstanding collaboration between those two companies. Initiated in 2016 as part of Expanscience's open innovation approach, this relationship aimed at developing and commercializing VitaliTENS in France as a drug-free alternative to painkillers. This transaction will enable Sublimed to accelerate its development and international expansion and to promote its device to rheumatologists through Expanscience's network.