Autonomix Medical has entered an agreement to license intellectual property for RF Innovations’s ablation technology, as the former company eyes pancreatic cancer-related pain.

The transaction, which involves Autonomix giving 250,000 shares of its common stock to RF Innovations, is for the Apex 6 radiofrequency (RF) generator.

Shares in Autonomix rose by 34% at market open compared to the pre-announcement market close. The company is listed on Nasdaq and has a market cap of $24.7m.  

The US Food and Drug Administration (FDA)-cleared device is designed to ablate neural tissue for pain management in the peripheral nervous system.

As per the agreement, Autonomix will gain a non-exclusive worldwide and royalty-free licence of the Apex 6 generator intellectual property. The technology will be incorporated into the company’s pipeline, which already includes RF technology. Autonomix stated it will begin working with RF Innovations’s manufacturing partner, who will also be incorporated into its supply chain.

Beyond the initial target of pancreatic cancer-related pain, Autonomix has plans for “follow-on indications” depending on initial data.

Autonomix shared positive data from a proof-of-concept trial initiated earlier this year to evaluate its transvascular RF ablation system in managing pain associated with pancreatic cancer.

The company’s catheter-based technology is designed to detect neural signals linked to pain or disease and accurately target those nerves for treatment. There is a market opportunity for therapies beyond opioids or invasive ethanol injections, which offer limited long-term relief and carry risks.

RF ablation is competing with the emerging pulsed field ablation (PFA) market. Unlike RF ablation, PFA can selectively target tissue, leaving healthy tissue unharmed.

The global electrophysiology ablation catheter market is estimated to be worth nearly $4.5bn this year, with it forecast to grow to over $15bn by 2033, according to analysis by GlobalData.