NEWTOWN, Pa., Jan. 10, 2020 (GLOBE NEWSWIRE) -- Helius Medical Technologies, Inc. (NASDAQ:HSDT) (TSX:HSM) (Helius or the Company), a leading neurotech company focused on neurological wellness, today announced that it is the recipient of the Pioneer Technology Development Award for its development of the PoNS device. This prestigious award, presented by the Brain Mapping Foundation (BMF) and Society for Brain Mapping and Therapeutics (SBMT), is given to trailblazing technology companies and their CEOs/Presidents who have facilitated the development of pioneering technologies through interdisciplinary approaches that have impacted diagnostics, treatment, and healthcare delivery in unprecedented ways.
Annually the BMF, SBMT award committee identifies many cutting-edge technologies but we only award those who are truly visionary, pioneering and lifesaving inventions. This year we have identified two pioneering technologies, one developed by Helius Medical Technologies, a neuromodulation device, and another, developed by Monteris Medical, a brain tumor ablation device, says Babak Kateb, M.D., Founding Chairman of the Board of Directors, CEO and Scientific Director, Society for Brain Mapping & Therapeutics (SBMT). Retinal, peripheral and or direct neuromodulation are the future for treatment of neurological disorders. SBMTs role is to make sure game-changing diagnostics and therapeutics such as PoNS are identified and provided to patients with limited treatment options in the US and around the world.
The PoNS device delivers mild electrical stimulation to the nerves of the tongue that connect with the nerves in the brain. When this stimulation is combined with physical activity, changes may occur in the neural network, which may result in improvements of balance and gait. The device is intended for use as a short-term treatment (14 weeks) of chronic balance deficit due to mild-to-moderate traumatic brain injury (mmTBI) and is to be used in conjunction with physical therapy.
I am honored to receive this award on behalf of the gifted scientists who developed the PoNS device and for all the stakeholders that have made its development intended for the treatment of neurological symptoms of disease or trauma possible, said Philippe Deschamps, Chief Executive Officer of Helius.
About Helius Medical Technologies, Inc.
Helius Medical Technologies is a neurotech company focused on neurological wellness. The Companys purpose is to develop, license and acquire unique and non-invasive platform technologies that amplify the brains ability to heal itself. The Companys first commercial product is the Portable Neuromodulation Stimulator (PoNS). For more information, visit http://www.heliusmedical.com.
About the Society for Brain Mapping and Therapeutics
The Society for Brain Mapping and Therapeutics (SBMT) is a non-profit society organized for the purpose of encouraging basic and clinical scientists who are interested in areas of Brain Mapping, engineering, stem cell, nanotechnology, imaging and medical device to improve the diagnosis, treatment and rehabilitation of patients afflicted with neurological disorders.
This society promotes the public welfare and improves patient care through the translation of new technologies/therapies into lifesaving diagnostic and therapeutic procedures. The society is committed to excellence in education, and scientific discovery. The society achieves its mission through multi-disciplinary collaborations with government agencies, patient advocacy groups, educational institutes and industry as well as a philanthropic organization.
The Society for Brain Mapping and Therapeutics (SBMT) was founded in 2004 to break boundaries in healthcare. The society promotes policies that support rapid, safe, and cost-effective translation of new technology into medicine.
Translational research applies cutting edge basic science and advanced technologies to clinical neurosciences. The Society examines emerging disciplines such as nanotechnology, image-guided therapy, stem cell therapy, neuromodulation, multi-modality imaging, biophotonics, and biomaterial and tissue engineering for their application to the diagnosis, treatment, and rehabilitation from neurological diseases. The Society seeks to apply these technologies to clinical problems such as brain tumors, stroke, epilepsy, neurodegenerative diseases (Parkinson, Alzheimers, multiple sclerosis and ALS), traumatic brain and spinal cord injuries, autism, post-traumatic stress disorder and other psychiatric illnesses.
About the PoNS Device and PoNS Treatment
The Portable Neuromodulation Stimulator (PoNS) is an authorized class II, non-implantable, medical device in Canada intended for use as a short term treatment (14 weeks) of chronic balance deficit due to mild-to-moderate traumatic brain injury (mmTBI) and is to be used in conjunction with physical therapy. The PoNS is an investigational medical device in the United States, the European Union (EU), and Australia (AUS), and it is currently under review for clearance by the AUS Therapeutic Goods Administration. PoNS Treatment is not commercially available in the United States, the European Union or Australia.
Investor Relations Contact:
Westwicke Partners on behalf of Helius Medical Technologies, Inc.Mike Piccinino, CFA443firstname.lastname@example.org
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. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. Forward-looking statements are often identified by terms such as believe, continue, look forward, will and similar expressions. Such forward-looking statements include, among others, statements regarding the Companys future clinical and regulatory development plans for the PoNS device and the potential regulatory clearance of the PoNS device.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those expressed or implied by such statements. Important factors that could cause actual results to differ materially from the Companys expectations include the uncertainties associated with the marketing, sale and regulation of medical devices in Canada, the clinical development, regulatory submission and approval process in the United States, the European Union and Australia, as well as the Companys capital requirements needed to achieve its business objectives and its ability to raise the needed capital, as well as other risks detailed from time to time in the filings made by the Company with securities regulators, and including the risks and uncertainties about the Companys business described in the Risk Factors sections of the Companys Annual Report on Form 10-K for the year ended December 31, 2018, its Quarterly Report on Form 10-Q for the quarter ended September 30, 2019 and its other filings with the United States Securities and Exchange Commission and the Canadian securities regulators, which can be obtained from either at http://www.sec.gov or http://www.sedar.com.
The reader is cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements except to the extent required by law.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
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