NeuroOne Medical Technologies Corporation Reduces Debt by $3.3 Million and Strengthens Balance Sheet

CathWorks FFRangio™ System Receives National Reimbursement Approval in Japan

CathWorks announced that the Japanese Ministry of Health, Labour and Welfare (MHLW) has approved the application to provide reimbursement for the CathWorks FFRangio™ System,...

Levine Leichtman Capital Partners Sells FlexXray

Levine Leichtman Capital Partners ("LLCP"), a Los Angeles-based private equity firm, announced today that it has sold its portfolio company FlexXray Holdings, LLC ("FlexXray" or...

NeuroOne Medical Technologies Corporation, a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders, today announces that during July 2020, the Company retired approximately $3.3 million of debt, strengthening the Company’s balance sheet. NeuroOne is now transitioning to advancing commercialization planning, building its financial infrastructure, and additional product development.

“Now that we have shored up our balance sheet, we are well-positioned to prepare for commercialization of our EVO Cortical Electrode product line with Zimmer Biomet, our strategic commercialization partner, accelerate additional research and development efforts, and explore uplisting to a national securities exchange,” says Dave Rosa, president and CEO, NeuroOne.

The result of a collaboration with the University of Madison-Wisconsin’s Alumni Research Foundation and the Mayo Foundation for Medical Education and Research, EVO is designed for the diagnosis and treatment of various neurological conditions, including epilepsy. EVO is based on thin-film, high-definition electrodes designed to record and monitor brain activity and stimulate brain tissue for up to 30 days. Additional potential future applications include: Parkinson’s disease (PD), brain tissue ablation and chronic pain due to failed back surgeries.

EVO received FDA 510(k) clearance in December 2019. By the end of 2020, NeuroOne plans to complete a 510(k) submission to the FDA of its stereoelectroencephalography (sEEG) Depth Electrode.

spot_img

DON'T MISS

Asensus Surgical Appoints Two New Board Members

Asensus Surgical, Inc. (NYSE American: ASXC), a medical device company that is digitizing the interface between the surgeon and the patient to pioneer a new era of Performance-Guided Surgery™, today announced the expansion of its Board of Directors, appointing...

Our Sister Publication: Biotechnology News Magazine

Subscribe to Medical Device News Magazine here.