Vermont

NeurAxis Announces BCBS of Vermont Medical Policy Coverage for PENFS, effective October 1st 2024

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2 years ago

on

August 13, 2024

By

Press Room

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

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Vermont

Vermont seeks dynamic pricing for state park access

Published

5 hours ago

on

June 3, 2026

By

Press Room

Vermont seeks dynamic pricing for state park access

MONTPELIER, Vt. (WCAX) – The state of Vermont wants more flexibility in how it charges for access to state parks.

Right now, fees are determined by location, size, and type of camping.

However, leaders say parking at state parks and ponds is seeing more foot traffic, and costs of maintaining them have gone up.

The Department of Forest Parks and Recreation wants to be able to price campsites and day-use parks more dynamically.

There’s no proposal to raise fees now, but if approved, some state parks could see increased fees depending on their popularity, the date, and location.

“It is trying to find that balance of covering costs, providing the service parkgoers have come to expect and making sure we aren’t creating unintentional barriers for people who want to enjoy our fabulous state lakes,” said Julie Moore, Vermont Natural Resources Secretary.

She adds that last year’s Vermont ‘Parks Forever’ initiative, which allows for people who receive three squares benefits free entry to parks, meant an additional 30,000 visits last year.

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Vermont

Hundreds of housing units in the works at closely-watched project in Burlington’s South End – VTDigger

Published

15 hours ago

on

June 3, 2026

By

Press Room

Hundreds of housing units in the works at closely-watched project in Burlington’s South End – VTDigger

A rendering of the South End Coordinated Redevelopment Project, courtesy of Andrew Foley, development director at Jonathan Rose Companies. Credit: GOA Architecture.

This story, by Report for America corps member Carly Berlin, was produced through a partnership between VTDigger and Vermont Public.

A long-awaited housing development that could bring hundreds of new apartments to a series of empty lots in Burlington’s South End neighborhood is beginning to come together.

The first phase of the major public-private deal, called the South End Coordinated Redevelopment Project, got official sign-off from the Burlington City Council last month. The project’s backers have also scored key funding commitments from Treasurer Mike Pieciak’s office and state housing funding agencies.

The project on Lakeside Avenue is the beginning of “a neighborhood being born out of a big parking lot,” Burlington Mayor Emma Mulvaney-Stanak told city councilors in May.

City officials and developers hope the project could eventually include over a thousand homes, making it one of the largest developments in Vermont – and putting a considerable dent in the Queen City’s housing shortage. Regional planners estimate that Burlington needs to add between 3,500 and 10,500 homes by 2050 to get the housing market to a healthy state.

The development is possible, in part, because of a 2023 zoning change in the formerly industrial area that allows for some of the densest housing development in the state, according to local planners.

The South End project’s backers include Champlain College, Champlain Housing Trust and Ride Your Bike LLC, the investors behind the nearby Hula coworking campus. They have brought on Jonathan Rose Companies, an affordable housing developer with projects from New York to California, as the lead developer. The South End project is the company’s first in Vermont.

The development agreement signed by city councilors in May greenlights the South End project’s first 204 units, estimated to cost roughly $100 million.

Per Burlington’s inclusionary zoning policy and state rules, at least 20% of the first round of apartments will be set aside as affordable. But the developers hope to secure enough funding to allow them to earmark a third of the 204 apartments with income restrictions, said Andrew Foley, director of development at Jonathan Rose Companies, in an interview. The development agreement offers the developers reduced city fees if the affordable units are priced even more modestly than required.

The lion’s share of the new apartments will be studios and one-bedrooms, Foley said. The building would include common social spaces for neighbors to gather, he added.

Like any large-scale housing project, the developers of the South End apartments are piecing together financing from a wide array of sources. They recently scored an $8 million low-interest loan from Pieciak’s 10% for Vermont program, along with a $6.7 million award from the Vermont Housing and Conservation Board to support 67 affordable apartments – including 10 reserved for people experiencing homelessness.

To build out new roads – along with wastewater connections and stormwater infrastructure meant to cut down on sewer overflows into nearby Lake Champlain – city officials are going after funding from a new state program. The Community and Housing Infrastructure Program, a tax-increment financing tool created by the Legislature last year, would allow the city and the developers to borrow the funds needed to build out the infrastructure against the development’s future property tax revenue.