New York, NY, October 16, 2023 – Pathway to Cures (P2C) announced today its investment of $500,000 in Five Liters, a subsidiary of Spark Biomedical, to develop therapies for treating inheritable blood and bleeding disorders. Pathway to Cures, an affiliate of the National Bleeding Disorders Foundation, is a venture philanthropy fund focused on early-stage companies developing cures, therapies, or enabling technologies in support of the inheritable blood and bleeding disorders community.

Five Liters, a Dallas-based wearable neuromodulation company, is embarking on a series of groundbreaking first-in-human studies to demonstrate the effectiveness of non-invasive, wearable neurostimulation in reducing blood loss. This significant milestone is made possible through Five Liters’ collaboration with Northwell Health’s Feinstein Institutes for Medical Research in New York.

More specifically, Five Liters is dedicated to exploring the hemostatic effects of vagus nerve stimulation (VNS), via transcutaneous auricular neurostimulation (tAN). The focus is on preventing life-threatening bleeding events commonly associated with various conditions, including inheritable bleeding disorders, surgical blood loss, and traumatic bleeding. In a recent New York Times article, Kevin Tracey, M.D., neurosurgeon, inventor, and president and CEO of the Feinstein Institute for Medical Research, shares insight on how delivering electricity to the vagus nerve (i.e. bioelectronic medicine) can help fight disease. Dr. Tracey is also a co-author on the Nature Communications article which demonstrated the mechanism of action behind VNS to improve hemostasis.

In initial clinical trials, Five Liters will prioritize von Willebrand Disease (VWD), the most prevalent inherited bleeding disorder worldwide, affecting approximately 0.6 to 1.3% of the global population (equivalent to 1 in every 100 globally). VWD manifests with varying degrees of bleeding tendency, such as excessive bleeding from injuries, surgical or dental procedures, persistent nosebleeds, heavy or prolonged menstrual bleeding, and bleeding during labor and delivery.

Daniel Powell, CEO of Five Liters and Spark Biomedical, remarked, “Our deep admiration for the bleeding disorders community and the Pathway to Cures organization stems from their unwavering commitment to advancing novel treatments. This investment is not only an honor but a testament to their confidence in our capability to introduce an evidence-based, innovative, non-pharmacological solution in an area where affordable medical options are limited.”

“Investing in Five Liters’ early-stage research is a critical step in addressing unmet needs of patients living with inheritable blood and bleeding disorders through innovative non-invasive, non-pharmacological treatments” said Michael Recht, MD, PhD, MBA. Dr. Recht is Chief Medical and Scientific Officer at both Pathway to Cures and the National Bleeding Disorders Foundation (NBDF) and chairs the Pathway to Cures Scientific Advisory Group.

P2C is fortunate to have the scientific and financial expertise of generous volunteers such as P2C’s Scientific Advisory Group that makes recommendations to the P2C Investment Committee regarding promising opportunities. Inheritable blood and bleeding disorders include rare and ultra-rare blood disorders, hemophilia A and B, von Willebrand Disease, sickle cell disease, anemia, clotting disorders, and other hematological disorders, affecting more than 20 million people worldwide.

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About Pathway to Cures
Pathway to Cures (P2C) is a venture philanthropy fund created to accelerate development of cures across all inheritable blood and bleeding disorders. In collaboration with other organizations, P2C invests in innovative therapies and technologies, leveraging the deep resources and scientific community relationships of its parent organization, the National Bleeding Disorders Foundation. By reinvesting proceeds from investments back into the Fund, P2C will amplify investment impact, support promising companies, and build a portfolio of investments that further the mission of the National Bleeding Disorders Foundation.

About National Bleeding Disorders Foundation
The National Bleeding Disorders Foundation (formerly the National Hemophilia Foundation) is dedicated to finding cures for inheritable blood and bleeding disorders and to addressing and preventing the complications of these disorders through research, education, and advocacy enabling people and families to thrive. For more information, visit

About Five Liters
Five Liters, a subsidiary of Spark Biomedical, is a U.S.-based wearable neurostimulation solution developer leading the way in exploring and providing novel, non-invasive, non-pharmacological treatment options for those suffering from excessive blood loss. For more information, visit or follow us @FiveLiters on LinkedIn and Facebook.

About Spark Biomedical
Spark Biomedical, Inc. is a leading U.S.-based wearable neurostimulation solutions developer devoted to the life-saving work of helping 36.3 million people worldwide overcome withdrawal, heal from addiction, and achieve the better quality of life they deserve. With opioid-related misuse and overdose deaths on the rise, the company’s mission is to eliminate opioid addiction by working to address the full opioid addiction lifecycle, including withdrawal management, opioid-sparing, relapse prevention, and PTSD/trauma abatement.

Spark Biomedical is helping patients take the first step of overcoming acute opioid withdrawal with its FDA-cleared wearable technology, the Sparrow Ascent Therapy System — Transcutaneous Auricular Neurostimulation (tAN®) for Opioid Withdrawal Relief. Sparrow® Ascent Therapy provides an easy, safe, and effective drug-free treatment option supported by clinical evidence. Next steps are underway with the launch of two NIDA-funded clinical trials to improve adult relapse rates and help infants suffering from Neonatal Opioid Withdrawal Syndrome (NOWS).

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