The terms of the deal announced in July provide
Innovative Thin Film Evo Cortical Electrode
The deal with
Zimmer's involvement is expected to allow NeuroOne to focus its resources on the pursuit of additional applications of its technology and meeting initial launch order requests to initiate product commercialization.
In connection with the Zimmer distribution agreement, NeuroOne received an upfront payment, with the potential to receive back-end payments upon meeting certain milestones.
Second Product Seeking FDA 510(k) Clearance in Q4
The next product being developed by NeuroOne is a stereoelectroencephalography (sEEG) depth electrode, which NeuroOne anticipates submitting for FDA 510(k) clearance by the end of 2020. The sEEG depth electrode is an expansion of NeuroOne's thin film electrode platform that can access deep cortical structures (where its Evo cortical electrodes are only on the surface). Additionally, it can be implanted through tiny twist holes instead of a craniotomy. This design feature may lead to fewer complications, less post-operative pain, and shorter length of stay in the hospital. Like Evo, the new sEEG depth electrode will be indicated for recording, monitoring and stimulating brain tissue for up to 30 days.
Beyond the Evo electrode portfolio, NeuroOne's development pipeline includes an ablation electrode to record and remove targeted problematic brain tissue, a spinal cord stimulation electrode, and a deep brain stimulation electrode. Intended applications for these innovative devices include helping with epilepsy, Parkinson's Disease, dystonia, essential tremors, and chronic back pain due to failed surgeries.
These innovative thin film technologies leverage new research conducted by scientists using deep brain stimulation to treat psychological and mental disorders. To date, published clinical data has helped generate a spike in interest from respected biotech leaders and technology entrepreneurs.
To drive future development of its proven product pipeline, NeuroOne has created an advisory board of seven prominent artificial intelligence experts to assist in the technology's planning, development, and functional application. Artificial intelligence is expected to be an integral part of the company's next generation of electrode technology.
Balance Sheet Strengthened In July
In July, the Company retired approximately
To find out more visit https://get.ceo3in60.com/neuroone/
Disclaimer
This communication was produced by
PCG is not a registered or licensed broker, dealer, broker-dealer, investment adviser nor investment manager, nor does PCG engage in any activities that would require such registrations. PCG does not provide investment advice, endorsement, analysis or recommendations with respect to any securities, and its services to or statements about its clients should never be construed as any endorsement of or opinion about any security of any client. No information contained in this communication constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other similar product or service regardless of whether such security, product, or service is referenced in this communication. Further, nothing in this communication is intended to provide tax, legal, or investment advice and nothing in this communication should be construed as a recommendation to buy, sell or hold any investment or security or to engage in any investment strategy or transaction. For full disclaimers, including compensation received for professional services, please visit www.pcgadvisory.com/disclosures
Media Contact
Company
Contact Person:
Email: info@ceo3in60.com
City:
State:
Country:
Website: https://pcgadvisory.com/
Source: www.abnewswire.com
.
(C) 2020 M2 COMMUNICATIONS, source