Vermont
NeurAxis Announces BCBS of Vermont Medical Policy Coverage for PENFS, effective October 1st 2024
CARMEL, Ind., Aug. 13, 2024 (GLOBE NEWSWIRE) — NeurAxis, Inc. (“NeurAxis,” or the “Company”) (NYSE American: NRXS), a medical technology company commercializing neuromodulation therapies addressing chronic and debilitating conditions in children and adults, today announced medical policy coverage for Percutaneous Electrical Nerve Field Stimulation (PENFS), for Blue Cross Blue Shield (BCBS) of Vermont Medical Members, effective 10/1/2024. This medical policy will bring our national total coverage for PENFS to roughly 23 million, with more decisions from major payers still pending.
IB-Stim™ is a non-surgical device that sends gentle electrical impulses into cranial nerve bundles in the ear. NeurAxis’ PENFS technology is FDA-cleared for functional abdominal pain associated with irritable bowel syndrome (IBS) in adolescents 11-18 years old. There are currently no FDA-approved drug therapies for children with abdominal pain-related disorders of the gut-brain interaction. The current medical treatments, which are off-label drugs, can often have serious side effects, and most lack scientific evidence of efficacy.
“We are excited regarding the coverage expansion in the state of Vermont, home to the renowned University of Vermont Children’s Hospital,” said Brian Carrico, President and Chief Executive Officer of NeurAxis. “We continue to make progress on our commercialization strategy goals for IB-Stim by increasing payer coverage to drive market adoption of our technology. We are on track to achieve our stated goal of having medical policy coverage for at least 50 million lives by the end of 2024, which will set the stage for a significant revenue ramp in late 2024 and into 2025,” Mr. Carrico concluded.
About NeurAxis, Inc.
NeurAxis, Inc., is a medical technology company focused on neuromodulation therapies to address chronic and debilitating conditions in children and adults. NeurAxis is dedicated to advancing science and leveraging evidence-based medicine to drive adoption of its IB-Stim™ therapy, which is its proprietary Percutaneous Electrical Nerve Field Stimulation (PENFS) technology, by the medical, scientific, and patient communities. IB-Stim™ is FDA cleared for functional abdominal pain associated with irritable bowel syndrome (IBS) in adolescents 11-18 years old. Additional clinical trials of PENFS in multiple pediatric and adult conditions with large unmet healthcare needs are underway. For more information, please visit http://neuraxis.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are based on management’s current assumptions and expectations of future events and trends, which affect or may affect the Company’s business, strategy, operations or financial performance, and actual results and other events may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. There are a number of important factors that could cause actual results, developments, business decisions or other events to differ materially from those contemplated by the forward-looking statements in this press release. These factors include, among other things, the conditions in the U.S. and global economy, the trading price and volatility of the Company’s stock, public health issues or other events, the Company’s compliance with applicable laws, the results of the Company’s clinical trials and perceptions thereof, the results of submissions to the FDA, the results of the shareholder vote to enable the issuance of the Preferred Stock, and factors described in the Risk Factors section of NeurAxis’s public filings with the Securities and Exchange Commission (SEC). Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements speak only as of the date of this press release and, except to the extent required by applicable law, the Company undertakes no obligation to update or revise these statements, whether as a result of any new information, future events and developments or otherwise.
Contacts:
Company
NeurAxis, Inc.
info@neuraxis.com
Investor Relations
Lytham Partners
Ben Shamsian
646-829-9701
shamsian@lythampartners.com
Vermont
Vermont women’s basketball starts six-game road trip with milestone win
Vermont soccer: 2024 America East championship celebration
Vermont men’s soccer defeats Bryant 2-1 in Sunday’s America East title game at soldout Virtue Field.
Vermont women’s basketball showcased its dominance against neighboring Dartmouth on Monday.
The Catamounts blew the game open in the second quarter with a 61-37 win. Vermont outscored the Big Green, 19-2, in the second quarter.
After not attempting a shot in the first quarter, the Catamounts’ leading scorer heated up. Anna Olson scored 10 points, sinking all five of her shot attempts to lead the way during the second-quarter fun.
The Catamounts started a six-game road trip as coach Alisa Kresge collected her 100th win with Vermont.
Catherine Gilwee continued to find her rhythm draining a pair of 3-pointers on the Catamounts’ first two possessions of the game. Those 3-pointers helped Vermont build an 8-0 lead immediately as the Catamounts never trailed.
While Dartmouth eventually cut Vermont’s lead down to 14-12 late in the first quarter, the Big Green could not keep pace in that second quarter.
The Catamounts created havoc on the court forcing 11 first-half turnovers and did not waste those extra possessions. Vermont cashed in those turnovers into 13 points as the Catamounts led 35-14 at halftime.
Bella Vito recorded her best game of the season scoring 10 points, grabbing a team-high nine rebounds and dishing out six assists. Olson once again led the Catamounts in scoring, finishing the game with 16 points while shooting 8-of-9 from the field.
Up next, the Catamounts travel to Alaska for the Great Alaska Shootout tournament this weekend.
Contact Judith Altneu at jaltneu@gannett.com. Follow her on X, formerly known as Twitter: @Judith_Altneu.
Vermont
Vermont soccer learns opponent, site for 2024 NCAA Tournament
Vermont soccer: 2024 America East championship celebration
Vermont men’s soccer defeats Bryant 2-1 in Sunday’s America East title game at soldout Virtue Field.
Vermont men’s soccer will be home to begin its NCAA Tournament journey for a fourth straight season.
The America East Conference champion Catamounts (11-2-5) drew the Iona Gaels (11-4-3) in a first-round matchup slated for Thursday night at Virtue Field. Game time is set for 6 p.m., and will be streamed on ESPN+.
Vermont will play in the NCAA Tournament for the 14th time in its history, fourth in a row and sixth since 2015. Vermont booked its spot this fall with Sunday’s 2-1 victory over Bryant in the America East title game, its seventh league tourney championship.
[See below story for full NCAA Tournament bracket.]
Vermont and Iona have faced off four times previously. The most recent matchups are: A 3-1 Gaels win in 2019; a 2-0 Catamounts triumph in 2021. Vermont and Iona had three common opponents in 2024: Vermont defeated Fairfield and Bryant and tied Binghamton, while Iona lost to Bryant and Binghamton and drew with Fairfield.
Last year, Vermont cruised past Rider in a first-round game at Virtue Field. Vermont then beat Central Florida before losing to West Virginia in the Round of 16. Two years ago, the Catamounts advanced to the quarterfinals for the first time since 1989, a run that started with an overtime victory at home over Quinnipiac.
Eighth-year UVM coach Rob Dow owns a program-record five NCAA Tournament victories.
The Catamounts have gone 7-1-1 over their last nine games and boast an unbeaten mark at Virtue Field (7-0-4). Yaniv Bazini and Maximilian Kissel, who scored the game-winner Sunday, pace Vermont with eigh goals each. Sydney Wathuta’s 12 assists rank second nationally and goalie Niklas Herceg sports a .79 goals-against average with a .810 save percentage.
The Gaels captured the Metro Atlantic Athletic Conference crown on Sunday at home, dethroning Rider in a 1-0 overtime victory for the program’s second berth to the NCAA tourney.
The Vermont-Iona winner advances to play at Hofstra on Sunday afternoon for a second-round tilt.
Contact Alex Abrami at aabrami@freepressmedia.com. Follow him on X, formerly known as Twitter: @aabrami5.
Vermont
Rutland ramps up incentives, cuts red tape, in push for 1,000 new housing units by 2028 – VTDigger
Over a year ago, Rutland City Mayor Mike Doenges announced the goal of creating 1,000 new housing units by 2028. The mayor recognized that, on paper, the roughly 60 new units in development this past year is a far cry from being on track towards his admittedly “lofty” target. But Doenges said he anticipated a slow start and much of the work in year one has been to address bureaucratic roadblocks to get the momentum rolling.
“I think it’s going better than I could have hoped,” Doenges recently said of his housing plan. “I don’t think we’ve seen that kind of burst of development in a very long time in our city so I take that as a very, very positive sign that we’re heading in the right direction.”
One of Doenges’ main affordable housing partners, the Housing Trust of Rutland County, has two projects in the works in Rutland City: 22 new units at the East Creek Commons on Columbian Avenue and 30 new units on Forest Street. It is also working on a 24-unit housing project in West Rutland.
Devon Neary, executive director of the Rutland Regional Planning Commission, sees affordable housing projects as a vital part of the solution to Rutland’s housing crisis.
“When we really look at housing development, it needs to be along a spectrum,” said Neary. “We need to make sure that we are retaining the population that we have and providing housing for everyone within their affordable range.”
The region’s home sales and rental costs rose at a steep rate in the past few years and people living in Rutland have felt this impact in their wallets, he said. The average one-bedroom rental cost in Rutland County jumped from $780 in 2019 to $911 in 2023, and the median home sale increased from $150,000 in 2018 to $229,000 in 2022, based on a housing needs assessment by Vermont Housing Finance Agency conducted last year.
This has left about half of the renter households in Rutland County cost-burdened, according to federal standards — a quarter of renters paid between 30% to 50% of their income on rent and 24% paid more than half their monthly earnings on rent in 2021.
Mary Cohen, executive director of the housing trust, said that while the trust is doing its best to contribute affordable housing, its capacity as a public developer is not enough to fill the need for varied types of housing in the city. Rutland’s rents are not high enough to attract private developers who need assurance of a return on investment for housing projects, she said.
“It can’t just be the affordable housing organizations that are doing this. It’s a lot of private developers that need to step to the plate as well,” Cohen said.
Recognizing that Rutland’s affordable housing organizations are already “neck-deep” in projects, Doenges has looked for ways to encourage more market-rate housing development and bring in private developers.
The mayor said that he sees his role as two-fold: to encourage and welcome new residents, and to “get out of the way” of developers by helping to remove costs and zoning barriers that slow down projects.
Doenges worked with the Rutland Heritage Family Credit Union to spearhead a program called Roofs Over Rutland, which received $8 million last month to provide low-interest-rate loans to developers.
Of that funding, which came from the state treasurer’s “10% in Vermont” local investment program, $5 million will be designated for projects of five or more units. The other $3 million will go towards smaller-scale projects. There have been more than a dozen housing development loan requests since Roofs Over Rutland’s roll out, according to Doenges.
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“That’s very encouraging, because it does prove the fact that there have been developers waiting in the wings for interest rates to come down, to reinvest and bring units online,” he said.
Other steps include reducing prohibitive permitting fees and wastewater water allocation permits, which have been lowered from $4 per gallon to 25 cents per gallon for residential developments, Doenges said.
Due to modernized zoning and existing development in the area, Neary said Rutland is also positioned to take full advantage of the recent loosening of Act 250 regulations through Act 181, passed by the Legislature in June. Doenges, Neary and Cohen all agreed this legislative change will cut costs and speed up operations for developers.
The Rutland Regional Planning Commission has also recently released a housing guide for developers, which Neary said has helped bring clarity to the housing production process.
“We’ve heard from several developers that that guidance document has been monumental in removing some of the barriers, especially information barriers for accessing public money and incentives for housing development and really bringing resources directly to those developers fingertips,” said Neary.
The Board of Aldermen is also considering an ordinance to place limits on short-term rentals. Michael Talbott, the board’s president, said this would hopefully have the trickle-down effect of making more housing available in Rutland. Other municipalities in Vermont that have regulated short-term rentals include Burlington, Stowe, Killington, Woodstock, Londonderry, Tunbridge and Plymouth.
Talbott said that he recognizes a need to be more thoughtful about reining in the unfettered short-term rental market and protecting renters in Rutland.
“We have people who tell us their landlord evicted them, turned their long-term apartment that they liked and always paid for into an Airbnb,” said Talbott. “Obviously, we need short-term rentals in Rutland, but how many do we need and where do we need them? Because we know we also need long-term rentals in a really significant way.”
Neary said despite the “slow roll,” the lessening of regulatory barriers in concert with programs like Roofs Over Rutland mark significant headway towards tackling the region’s housing woes. The city’s success, Neary continued, will be key to addressing the housing shortage in the county as a whole, which is estimated to need around 7,000 additional housing units for renters and homeowners by 2040, according to the housing finance agency study.
“Housing doesn’t just pop up out of nowhere. I think what is most critical is that the city of Rutland is really laying the foundation for significant housing growth,” said Neary.
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