NeurAxis (NRXS) Lytham Partners 2025 Investor Healthcare Summit summary

Company overview and recent achievements

• Early growth stage med tech firm with two FDA indications, including a flagship pediatric device for functional abdominal pain and IBS in children.

• Achieved a category one CPT code effective January 1, 2026, and expanded insurance coverage from 4 million to 40 million lives in the past year.

• Strong intellectual property portfolio with protection through 2039 and ongoing additions.

• Management team expanded with experienced hires and a new CFO.

• Clear path to profitability with high gross margins near 90%.

Market opportunity and product pipeline

• Pediatric indication targets a $3 billion market, with 600,000 children as the initial addressable segment.

• Second FDA indication (RED) addresses a $2 billion market for adult constipation diagnostics, launching in Q1/Q2 2025.

• Pipeline includes additional pediatric and adult GI indications, with two more FDA submissions expected by end of 2025.

• RED technology licensed from University of Michigan, with existing reimbursement and Medicare coverage.

Clinical data and insurance coverage

• 16 publications and 10 study types, including head-to-head and long-term data, support the technology.

• Academic society guidelines recognize the device as standard of care, with full publication expected soon.

• Insurance coverage growth tied to published guidelines and CPT code activation, with largest payers awaiting final publication.

• Category one CPT code will bring permanent reimbursement and physician revenue units.