Electrical Geodesics, Inc.: Showcasing Of GTEN Neuromodulation Technology
EUGENE, OREGON, US, 6 June 2014 – Electrical Geodesics, Inc. (“EGI” or the “Company”), a leading neurodiagnostic medical technology company, today announces that its novel neuromodulation technology, GTEN, will be showcased at the Organisation for Human Brain Mapping (“OHBM”) meeting in Hamburg on Tuesday 10 June 2014.
This technology underlies an important new growth direction for EGI, leveraging its well established strength in dense array EEG and capability in head modelling, to move the use of its products from principally monitoring and diagnostics into therapeutic intervention, a key goal set at IPO in 2013.
The Geodesic Transcranial Electrical Neuromodulation (“GTEN”) platform integrates EGI’s newest platform technology, its capabilities in matching anatomical and electrical features of the head and its proprietary computational simulations to deliver highly specific neuromodulation by the delivery of small amounts of electric current to excite or suppress the activity of neurons in specific areas of the brain. Using the Company’s core GES 400 dEEG platform, this integrated approach capitalises on its intellectual property and knowledge of the physiology and conductivity of the skull and brain to potentially deliver very precise electrical currents to the target region of the brain with immediate feedback of results through simultaneous EEG recording.
Neuromodulation is being increasingly accepted as a safe and effective method to treat and manage a number of neurological disorders in patients where pharmaceutical intervention is ineffective. These disorders include major areas of unmet medical need such as depression, schizophrenia, epilepsy, tinnitus, chronic pain and migraine and in rehabilitation following trauma or stoke. Competing technologies include transcranial magnetic stimulation (“TMS”), already approved in the treatment of depression, and transcranial direct current stimulation (“tDCS”) using a small number of larger electrodes, which is being researched in multiple areas of clinical use. Neuromodulation can also be delivered using electrodes surgically implanted in the brain. Current treatments typically require additional tools to provide response feedback. EGI believes the GTEN product offers the potential to deliver much greater precision of modulation with immediate feedback of its effect without the risks of neurosurgery.
EGI is intending to bring the first GTEN product to market for research use early in 2015, once the development of the required software is complete and fully evaluated and the necessary safety checks have been performed. GTEN will be sold as an upgrade module to existing customers with GES 400 systems where hardware changes, if any, are expected to be minor and to new customers as part of an entire integrated EEG/GTEN system. The GES 400 EEG platform was designed as an upgradeable, multi-functional product and customers can benefit from its modular nature, choosing to upgrade lower channel count products to higher density or adding modules such as GTEN to allow greater functionality.
Don Tucker, CEO of EGI commented: “Since its introduction to the market, EGI’s dense array EEG technology has changed the field of neuroscience research, offering researchers and clinicians tools for precise monitoring of brain activity. Our new GTEN technology promises a similar contribution to the neurostimulation market, benefiting researchers and clinicians and their patients in fields as diverse as epilepsy, depression, schizophrenia, sleep, and chronic pain. We believe that neuromodulation can provide a new and exciting addition to our offering, giving EGI access to valuable therapeutic opportunities.”
For more information contact:
EGI
UK: Christine Soden, CFO +44 7710 484199
US: Ann Bunnenberg, COO +1 541 687 7962
Peel Hunt LLP (NOMAD and Broker) +44 (0) 20 7418 8900
James Steel, Clare Terlouw
FTI Consulting (PR Advisors) +44 (0) 20 3727 1000
Simon Conway, Mo Noonan
About EGI
Founded in 1992, EGI designs, develops and commercialises a range of non-invasive neurodiagnostic products used to monitor and interpret brain activity based on its proprietary dense array electroencephalography ("dEEG") platform technology. The Company’s technology uses up to 256 sensors, providing much higher resolution brain activity data compared to conventional 8 or 16 channel EEG and is used in medical, clinical and research settings in a diverse range of applications including important areas such as the diagnosis and monitoring of epilepsy, neurosurgical planning, sleep assessment, and many others.
EGI’s dense array technology capitalizes on the Company’s unique Hydrocel Geodesic Sensor Net which allows faster, easier, and more convenient placement of many EEG sensors in an even distribution over the entire scalp, providing more accurate and precise diagnosis and measurement. EGI’s technology is now widely used in neuroscience research laboratories and is becoming more commonly used in clinics, care centres, and hospitals around the world. Data is measured and visualised using EGI’s proprietary amplifier technology and software, providing a complete, advanced, high-resolution EEG platform. The Company’s products are compatible with multiple diagnostic and imaging technologies, including magnetic resonance (MR) imaging, functional MRI (fMRI), and magneto-encephalography (MEG).
In April 2013 EGI commenced trading on the London Stock Exchange AIM market under the symbol EGI.L. See www.egi.com for more information on the Company.
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