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 a recipient of a START award from MassVentures, which funds deep tech startups based in Massachusetts as they advance technology developed under NIH SBIR/STTR funding.
This Stage I START funding was awarded on the basis of PathMaker’s $4.9M grant from the NINDS Cooperative Research to Enable and Advance Translational Enterprises for Devices (CREATE Devices) program to develop MyoRegulator, a first-in-class, non-invasive neuromodulation device for treating muscle spasticity.
“We are very pleased to have the support from MassVentures for our efforts to commercialize the MyoRegulator product,” said Nader Yaghoubi, MD, PhD, President and Chief Executive Officer of PathMaker. “With our EU pivotal trial successfully completed and our US multi-center pivotal trial underway, we are excited about the next phase of our company’s growth.”
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. The $100,000 MassVentures START award will enable additional transfer-to-manufacturing work on MyoRegulator as PathMaker approaches commercial launch of its first product.
[Source(s): PathMaker Neurosystems Inc, GlobeNewswire]