PathMaker Neurosystems Receives $100,000 START Award from MassVentures
June 08, 2022 07:00 ET | Source: PathMaker Neurosystems Inc.
BOSTON, June 08, 2022 (GLOBE NEWSWIRE) -- PathMaker Neurosystems Inc. (“PathMaker”), a near-commercial stage neuromodulation company developing breakthrough non-invasive systems for the treatment of serious neurological disorders, was selected as a recipient of a START award from MassVentures, which funds deep tech startups based in Massachusetts as they advance technology developed under NIH SBIR/STTR funding. This Stage I START funding was awarded on the basis of PathMaker’s $4.9M grant from the NINDS Cooperative Research to Enable and Advance Translational Enterprises for Devices (CREATE Devices) program to develop MyoRegulator®, a first-in-class, non-invasive neuromodulation device for treating muscle spasticity.
“We are very pleased to have the support from MassVentures for our efforts to commercialize the MyoRegulator product,” said Nader Yaghoubi, M.D., Ph.D., President and Chief Executive Officer of PathMaker. “With our EU pivotal trial successfully completed and our US multi-center pivotal trial underway, we are excited about the next phase of our company’s growth.”
MassVentures is a venture capital firm that helps transfer research and early-stage innovations into technology businesses and jobs in Massachusetts. The MassVentures START program helps deep tech startups convert their Small Business Innovation and Small Business Technology Transfer research (SBIR/STTR) into businesses and jobs in Massachusetts. The $100,000 MassVentures START award will enable additional transfer-to-manufacturing work on MyoRegulator as PathMaker approaches commercial launch of its first product.
About PathMaker Neurosystems Inc.
PathMaker Neurosystems is a near-commercial stage neuromodulation company developing breakthrough non-invasive systems for the treatment of people with serious neurological disorders such as stroke and amyotrophic lateral sclerosis (ALS). With offices in Boston (U.S.) and Paris (France), PathMaker is collaborating with world-class institutions on rapidly bringing to market disruptive products for treating brain and other neurological disorders with high unmet medical need. More than 48 million people in the U.S., Europe and Asia suffer profound disabilities due to stroke, ALS, spinal cord injury, multiple sclerosis, traumatic brain injury, cerebral palsy and other related neurological disorders. MyoRegulator® is expected to be the world’s first non-invasive neuromodulation device to treat muscle spasticity, enabling treatment without the need for drugs or surgery. MyoRegulator® is based on PathMaker’s proprietary DoubleStim® technology for suppression of hyperexcitable spinal motor neurons. MyoRegulator® has been designated by the US Food and Drug Administration (FDA) as a “breakthrough medical device.” MyoRegulator® is an investigational medical device and is limited by Federal law to investigational use only. At PathMaker, we are opening up a new era of non-invasive therapy that promises to restore mobility and function in people with serious neurological disorders. For more information, please visit the company website at www.pmneuro.com.