Press "Enter" to skip to content

NeuroOne Medical Technologies Preparing for Commercialization of Thin Film Electrodes Technology Reduced Debt by $3.3M

This content contains Forward Looking Statements as defined by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

OTCQB: NMTC; NeuroOne, 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 Medical Technologies Corporation NeuroOne is now transitioning to advancing commercialization planning, building its financial infrastructure, and additional product development.

  • 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.

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.

Be First to Comment

Leave a Reply

%d bloggers like this:
Close Bitnami banner
Bitnami