NEWTOWN, Pa., Oct. 02, 2018 (GLOBE NEWSWIRE) -- Helius Medical Technologies, Inc. (NASDAQ:HSDT) (TSX:HSM) (“Helius” or the “Company”), a neurotech company focused on neurological wellness, today announced that the Company has entered into an agreement with HealthTech Connex, Inc. (“HTC”) to develop and manage neuroplasticity clinics in Canada.
"We are excited to announce this strategic alliance with HealthTech Connex and look forward to establishing our commercial infrastructure in Canada," said CEO Philippe Deschamps. “This new agreement with HTC will result in the formation of a new operating entity called Heuro Canada and is the first step towards our shared goal of giving hope to people with Traumatic Brain Injury by ensuring that our novel therapy will be accessible to Canadians once cleared by the regulatory authorities."
“The agreement to establish Heuro Canada is an important step in establishing the commercial infrastructure for both the PoNS™ Treatment and the NeuroCatch™ Platform measurement in Canada,” said Kirk Fisher, CEO of HealthTech Connex. “Heuro Canada will establish two neuroplasticity clinics here in Canada, initially, as we consider future expansion. We look forward to the possibility of expanding our commercial infrastructure through the newly formed Heuro Canada venture.”
Both the Portable Neuromodulation Stimulator (PoNS™) device and the NeuroCatch™ Platform are currently investigational devices, not for sale in Canada or the US. PoNS was submitted for review by Health Canada on September 27th, 2018 and the NeuroCatch™ Platform is planned to be submitted to Health Canada in Q1 of 2019. Both technologies will be used in Heuro Canada neuroplasticity clinics only if and when those technologies are cleared for use in Canada by Health Canada. Subject to the foregoing, Heuro Canada is anticipated to be operational in the fourth quarter of 2018.
About Helius Medical Technologies, Inc.
Helius Medical Technologies is a neurotech company focused on neurological wellness. The Company’s purpose is to develop, license and acquire unique and non-invasive platform technologies that amplify the brain’s ability to heal itself. The Company’s first product in development is the Portable Neuromodulation Stimulator (PoNS). For more information, visit www.heliusmedical.com.
About the PoNS Device and PoNS Treatment
PoNS Treatment is the first and only tongue-delivered neuromodulation that combines stimulation of cranial nerves with physical and cognitive therapy to restore lost neurological function. The Portable Neuromodulation Stimulator (PoNS) is an investigational, non-invasive, medical device that delivers stimulation to the cranial nerves.
The Company’s trials investigating the PoNS in traumatic brain injury are more fully discussed in the Company’s disclosure materials, including its Annual Report on Form 10-K and other filings with the United States Securities and Exchange Commission.
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. Such forward-looking statements include, among others, statements regarding the potential clearance by the FDA and Health Canada of the Company’s regulatory submissions and the prospective commercial launch of the PoNS treatment and the Heuro Canada clinics.
Forward-looking statements are often identified by terms such as “believe”, “will”, “may”, “should”, “anticipate”, “expects”, “estimate”, “intend” and similar expressions.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the uncertainties associated with the U.S. and Canadian regulatory approval processes, including the possibility that the FDA and/or Health Canada may not find the Company’s regulatory submission sufficient to support clearance, uncertainties associated with the establishment of the Heuro Canada clinics, the commercial contracting process, the Company’s need to raise additional capital to achieve its business objectives and other risks detailed from time to time in the filings made by the Company with securities regulators.
The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking statement. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials, including its Annual Report on Form 10-K for the year ended December 31, 2017, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2018 and its other filings with the United States Securities and Exchange Commission and the Canadian securities regulators and which can be obtained from either at www.sec.gov or www.sedar.com.
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.
About HealthTech Connex, Inc.
HealthTech Connex, Inc. is a health technology company working to revolutionize the practice of clinical neuroscience through advanced technologies based on the highest quality science and innovation. Located in Surrey, British Columbia, Canada, it is one of the first companies to emerge from the city’s Innovation Boulevard, an agile partnership of health, business, higher education and government creating new health technologies to improve peoples’ lives. www.HealthTechConnex.com
Investor Relations Contact
Westwicke Partners on behalf of Helius Medical Technologies, Inc.
Mike Piccinino, CFA