No, Occam's Razor explanation as to why "no one seems ready to grab the device and run with it" is that the device doesn't work and is therefore worthless to pain management.
Given the scale of chronic pain problems around the world, if the device worked even a little bit to relieve chronic pain, the company wouldn't need trials or even advertising. Word of mouth alone would have it flying off the shelves to pain clinics around the globe.
The best explanation for why that hasn't happened is simply that the device doesn't work.