BOSTON and PARIS, Feb. 15, 2017 /PRNewswire/ -- PathMaker Neurosystems Inc. ("PathMaker"), a clinical-stage neuromodulation company developing non-invasive systems for the treatment of patients with neuromotor disorders, announced today that Bpifrance has awarded the Company an initial grant in support of the development of the Company's first product, MyoRegulatorTM, the first non-invasive neuromodulation device intended for the treatment of patients suffering from neuromotor spasticity. Through the Programme d'Investissements d'Avenir (PIA-1) program offered by Bpifrance, this prestigious grant provides support for the initiation of PathMaker's clinical development program in France. The company is collaborating with leading researchers and clinicians at the world renowned Brain and Spine Institute (Institut du Cerveau et de la Moelle Epinière – ICM) at the Pitié-Salpêtrière Hospital in Paris, which will be the site of a European clinical trial for MyoRegulator.
"We are truly pleased to have received this support from Bpifrance," said Nader Yaghoubi, M.D., Ph.D., President and Chief Executive Officer of PathMaker Neurosystems. "After comprehensive review of our company and technology, Bpifrance is demonstrating confidence in our efforts and we are thankful for the support and validation from this leading institution."
PathMaker's recent award from Bpifrance comes shortly after the Company's receipt of the Innovation Prize 2016 in an international competition that honors the world's most innovative startups and the best academic research groups that are "developing cutting edge technologies in the field of life sciences."
About PathMaker Neurosystems Inc.
PathMaker Neurosystems is a clinical-stage neuromodulation company developing non-invasive systems based on the proprietary PathMaker™ Coordinated Multi-site Neurostimulation™ technology. With offices in Boston (US) and Paris (France), PathMaker is moving forward on a trans-Atlantic strategy to rapidly bring to market entirely novel, breakthrough approaches to non-invasively treating neuromotor disorders. More than 48 million patients in the US, Europe and China suffer disabilities due to stroke, cerebral palsy, multiple sclerosis, spinal cord injury, traumatic brain injury, Parkinson's disease and other neurological disorders. At PathMaker, we are opening up a new era of non-invasive neurotherapy for patients suffering from chronic neuromotor conditions. For more information, please visit the company website at www.pmneuro.com.
Bpifrance, a subsidiary of the Caisse des Dépôts (French Consignments and Loans Fund) and the French State, a trusted partner of entrepreneurs, supports companies from start-up to stock exchange listing, with credit, collateral and equity. Bpifrance also provides support services and enhanced support for innovation, acquisitions and exports, in partnership with Business France. Bpifrance offers companies a continuum of funding at each key stage of their development and an offer adapted to regional specificities. With 47 regional offices (90% of its decisions are taken at the regional level) Bpifrance is a tool of economic competitiveness for entrepreneurs. Bpifrance supports public policies pursued by the French State and by Regional Councils to meet three objectives:
- support the growth of businesses
- prepare future competitiveness
- contribute to the development of a favourable ecosystem for entrepreneurship.
With Bpifrance, companies benefit from an influential, available and effective intermediary to meet all their needs in terms of finance, innovation and investment. For further information, please visit: www.bpifrance.fr – http://investissementsdavenir.bpifrance.fr/ – Twitter: bpifrance.
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SOURCE PathMaker Neurosystems Inc.