NEWTOWN, Pa., Sept. 13, 2017 (GLOBE NEWSWIRE) -- Helius Medical Technologies, Inc. (TSX:HSM) (OTCQB:HSDT) (“Helius” or the “Company”) announced today that, through its wholly owned subsidiary NeuroHabilitation Corporation (“NHC”), it has executed an extension to its Cooperative Research and Development Agreement (“CRADA”) with the US Army Medical Research and Materiel Command (“USAMRMC”) through 2018 and extended the deadline for commercialization of the PoNSTM Therapy to December 31, 2021.
The CRADA partners Helius and the USAMRMC in the clinical development and commercialization of the Company’s Portable Neuromodulation Stimulator (PoNS) device, a non-invasive brain stimulation device, currently being developed for the treatment of chronic balance disorder in patients with mild to moderate traumatic brain injury.
The CRADA is also intended to support the development of other potential indications of the device, relevant to injured service members who have suffered a traumatic brain injury, such as treating tinnitus, post-traumatic stress, sleep disturbances or chronic pain.
“We are pleased to formally extend our development partnership with the U.S. Army, and the commitment to explore other war-fighter indications for the PoNS™ Therapy upon FDA clearance,” said Philippe Deschamps, CEO of Helius. “We are encouraged with the progress to date on our TBI trial as all study subjects have completed their treatment; an important milestone as we work towards FDA clearance forecasted for the first half of 2018. We continue to appreciate the US Army as our development partner.”
About PoNS™ Therapy
The Portable Neuromodulation Stimulator (PoNS) is an investigational non-invasive device designed to deliver neurostimulation through the tongue. PoNS Therapy combines the use of the device with physical therapy and is currently being evaluated in a multicenter clinical trial for the treatment of balance disorder for subjects with mild to moderate traumatic brain injury.
About Helius Medical Technologies, Inc.
Helius Medical Technologies is a medical technology company focused on neurological wellness. Helius seeks to develop, license and acquire unique and non-invasive platform technologies that amplify the brain’s ability to heal itself. Helius intends to file for FDA clearance for the PoNS™ device. For more information, please visit www.heliusmedical.com.
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Cautionary Disclaimer Statement:
Certain statements in this news release are not based on historical facts and constitute forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws (“forward-looking statements”).
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HELIUS CONTACTS:
Investor Relations:
Josh Berg, 415-205-7891
info@heliusmedical.com
Media Contact:
Becky Kern, 914-772-2310
media@heliusmedical.com
