PathMaker Neurosystems Inc. was selected as one of five companies in Massachusetts to receive a START Stage 2 award from MassVentures, which funds deep tech startups based in Massachusetts as they advance technology developed under SBIR/STTR grant funding.
BOSTON, June 05, 2023 (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 one of five companies in Massachusetts to receive a START Stage 2 award from MassVentures, which funds deep tech startups based in Massachusetts as they advance technology developed under SBIR/STTR grant funding. This START Stage 2 funding was awarded on the basis of PathMaker’s $4.9M NIH grant from the NINDS CREATE Devices program to develop MyoRegulator®, a first-in-class, non-invasive neuromodulation device for treating spasticity and related neuronal hyperexcitability disorders.
“We are grateful for the Stage 2 award from MassVentures as we work to bring MyoRegulator® to market,” said Nader Yaghoubi, M.D., Ph.D., Co-Founder and Chief Executive Officer of PathMaker. “As we continue our US multi-center pivotal trial in post-stroke spasticity and work to launch our first clinical trial in ALS this year, MassVentures support for late-stage development of our product is greatly appreciated.”
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. This $200,000 START Stage 2 award will enable late-stage development activities on MyoRegulator®, and follows a $100,000 START Stage 1 award funded in 2022.
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.
Source: PathMaker Neurosystems Inc.
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