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Medtronic, Leading Neurostimulation Company, Invests in Flex Pharma IPO

BOSTON--(BUSINESS WIRE)--Mar. 3, 2015-- (Click to Tweet this News) Flex Pharma, Inc. (NASDAQ: FLKS), a biotechnology company that is developing innovative and proprietary treatments for nocturnal leg cramps and spasms associated with severe neuromuscular conditions, today announced that Medtronic invested in the Flex Pharma initial public offering on January 29, 2015.

"As a market leader in neurostimulation to ameliorate a wide range of human disease, Medtronic is focused on backing potentially breakthrough new therapies in this arena,” said Stephen Oesterle, M.D., Medtronic Senior Vice President Medicine & Technology. "Flex Pharma has opened a potentially important, novel means of therapeutic neurostimulation, via topically acting ion channel agonists.”

“Flex Pharma’s strategy of stimulating particular nerves by TRP channel activation may feed into some of the same pathways as electrical neurostimulation,” noted National Academy of Science member and Flex Pharma Scientific Co-Founder, Bruce Bean, Ph.D. “So we think there may be interesting overlaps and synergies for treating various disorders by combining TRP channel activation with Medtronic’s approved neurostimulation therapies."

"We intend to explore whether activators of Transient Receptor Potential (TRP) channels may be beneficial in patients suffering from muscle spasms caused by a variety of neurological diseases,” commented Nobel Laureate and Flex Pharma Scientific Co-Founder, Rod MacKinnon, M.D. “This small molecule modality, alone or in combination, may represent a potential new approach to neurostimulation.”

About Flex Pharma

Flex Pharma, Inc. is a biotechnology company that is developing innovative and proprietary treatments for nocturnal leg cramps and spasms associated with severe neuromuscular conditions. In three randomized, blinded, placebo-controlled, cross-over studies, Flex Pharma's proprietary treatment has shown a statistically significant reduction in the intensity of muscle cramps in healthy normal volunteers.

Flex Pharma was founded by National Academy of Science members Rod MacKinnon, M.D. (2003 Nobel Laureate), and Bruce Bean, Ph.D., recognized leaders in the fields of ion channels and neurobiology, along with Chairman and Chief Executive Officer Christoph Westphal, M.D., Ph.D.

Cautionary Note on Forward-Looking Statements

This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: the success and timing of ongoing and anticipated clinical studies for our current product candidates; our expectations regarding the effectiveness and safety of our product candidates; our expectations for future studies in various diseases; and our beliefs regarding potential synergies in TRP channel activation and neurostimulation therapies. Various factors may cause differences between our expectations and actual results as discussed in greater detail under the heading “Risk Factors” in the registration statement on Form S-1 (commission file number 333-201276), which was declared effective by the Securities and Exchange Commission (SEC) on January 28, 2015. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

Source: Flex Pharma, Inc.

Flex Pharma, Inc.
Elizabeth Woo, 617-874-1829
VP, Investor Relations & Corporate Communications