MicroTransponder Announces $3M in Funding, the First Patient Implant in a Stroke Clinical Trial, and Key Patent Issuance
Medical device company reaches several key milestones in development of a neurostimulation therapy to treat stroke and tinnitus patients.
Dallas, TX (PRWEB) August 29, 2013
MicroTransponder, Inc., (http://www.microtransponder.com) a privately-held medical device company has several major announcements. The Company announced that it completed a $3.39 Million funding round this summer, which will enable the Company to complete 3 additional clinical trials using their neurostimulation system to treat both stroke patients and tinnitus patients and continue development of its wireless pain platform. This round of investment was led by Green Park & Golf Ventures, a Texas based healthcare investment firm. The round also included angel investors and the UT Horizon Fund.
“MicroTransponder’s VNS paired neurostimulation therapy has the potential to fundamentally change the standard of care for neurological disease,” states Dr. Clay Heighten, a founding partner of Green Park & Golf Ventures. “The MicroTransponder team is adept at translating neuroscience research into clinical therapies and we look forward to their efforts to improve the lives of millions of patients living with neurological disorders.”
MicroTransponder is dedicated to rigorous scientific research and, along with its partners at the University of Texas at Dallas, continues to publish academic papers on its neuroscience research in respected peer reviewed academic journals. From this rigorous neuroscience research, a new vagus nerve stimulation therapy has been developed to treat various neurological disorders. The initial therapeutic targets are stroke, tinnitus, and chronic pain.
The Vivistim® System* has been developed to treat stroke patients that experience an upper-limb deficit following their stroke. These are patients that are unable to fully recover the use of their upper-limbs at least 6 months following their stroke. A United Kingdom based clinical trial is underway using the Vivistim® System in the Glasgow and Newcastle areas. The first patient has been implanted and is receiving therapy. Anyone currently living in the UK interested in taking part in the study should contact: mvls-armweakness(at)glasgow(dot)ac(dot)uk or call 0141 211 2948. A U.S. based stroke trial is planned for 2014. Please visit http://www.MicroTransponder.com to get the latest updates.
The Serenity® System* has been developed to treat patients who suffer from tinnitus. Tinnitus is the annoying perception of sound in the ears or head where no external source is present, commonly referred to as “constant ringing in the ears”. The American Tinnitus Association estimates that as many as 2 million Americans currently suffer from severe debilitating tinnitus. Currently 850,000 Veterans suffer from tinnitus and the Veterans Administration is spending over $1.5 Billion annually in disability payments.
The Serenity® System is a neurostimulation based system with a small implanted battery and wires that internally connect to the vagus nerve in the neck. As part of the therapy, the patient wears headphones and every time the system plays a tone, it also automatically delivers a small amount of neurostimulation to the patient’s vagus nerve. This paired tone-stimulation treatment method is based on years of neuroscience research published in high impact journals. Tinnitus clinical trials in the U.S. will begin later this year; more details will be announced later in the year on http://www.MicroTransponder.com
Additionally, MicroTransponder announced the issuance of a U.S. Patent for “Timing Control for Paired Plasticity.” (U.S. Patent # 8,489,185). This patent is an important part of an intellectual property portfolio covering the paired neurostimulation therapy and the devices and systems to deliver this therapy.
This funding and stroke trial announcement is another important milestone for the Company. Frank McEachern, CEO of MicroTransponder, states, “We are committed to bringing this therapy to market. Patients with neurological disease currently have too few treatment options available to them. It is essential to bring neuroscience-based innovation into the clinic.”
About MicroTransponder, Inc.
MicroTransponder Inc. (http://www.microtransponder.com) is a medical device development company with a strong neuroscience research focus. An experienced team of scientists and engineers has developed and continue developing neurostimulation technology platforms to treat various forms of neurological diseases, including tinnitus and post stroke motor rehabilitation. MicroTransponder has a substantial neurostimulation-focused R&D program which is able to quickly translate scientific discoveries into clinical therapies. MicroTransponder has raised more than $25 Million in private investment and grants.
About Green Park & Golf Ventures
Green Park & Golf Ventures (http://www.gpgventures.com), built on over 50 years of operational and financial experience, seeks investment opportunities that offer above-market returns for its investors. Led by Clay Heighten, M.D., and Carl Soderstrom, the firm delivers strategic solutions, financial backing and a reliable network to its portfolio companies.
*CAUTION – Investigational device. Limited by Federal law to investigational use.
For the original version on PRWeb visit: http://www.prweb.com/releases/2013/8/prweb11067850.htm