Helius Medical Technologies, Inc. Announces the Establishment of a Wholly Owned Brain Computer Interface ("BCI") Technology Private Subsidiary
--Revelation Neuro, Inc. is focused on advancing development of a Non-Implantable Artificial Intelligence ("AI") Powered BCI Technology--
--Helius' existing IP portfolio and extensive data warehouse provides a solid foundation for AI algorithm development--
--Helius to Present at the 37th Annual ROTH Conference on Monday, March 17 at 12:00pm PT--
NEWTOWN, Pa., March 13, 2025 (GLOBE NEWSWIRE) -- Helius Medical Technologies, Inc. (NASDAQ:HSDT) ("Helius" or the "Company"), a neurotech company focused on delivering a novel therapeutic neuromodulation approach for improving balance and gait deficits and reducing the risk of falling, today announced the establishment of Revelation Neuro, Inc. ("Revelation Neuro"), its wholly-owned private subsidiary focused on the development of non-implantable AI powered BCI technology.
"We are thrilled to establish Revelation Neuro to pursue the development of a new gold standard of care for personalized neurorehabilitation using a non-implantable AI powered BCI combining our newly developed intellectual property ("IP") with Helius' existing IP. Our technology relies on its proven ability to modulate known target brain processes and trigger therapeutic responses by using translingual stimulation without risky implantation. We believe Revelation Neuro's BCI technology will be a unique and less invasive therapeutic option," said Dane Andreeff, Helius President and Chief Executive Officer.
"Revelation Neuro is focused on maximizing the positive effect of neuromodulation by applying AI to optimize individual response to translingual stimulation," Andreeff continued. "Helius' extensive dataset, comprised of more than 5 years of movement dysfunction clinical evidence from over 400 subjects, will serve as the initial foundation for AI algorithm development to which new patient data will then be added to optimize the algorithm and enable a precise and personalized approach to motor function rehabilitation. Revolutionary BCI-enabled improvement in functional rehabilitation is the initial focus of Revelation Neuro's efforts, with the potential in the future to address neurological conditions including cognitive deficit, mood and behavior disorders."
Revelation Neuro is a private subsidiary 100% owned by Helius Medical Technologies, Inc. Helius intends to assign its newly developed IP and to license its existing IP to Revelation Neuro. Leveraging over $70 million invested to date in the development of a novel and proprietary neuromodulation mechanism of action and data gathering will allow expedited development of Revelation Neuro's AI powered BCI. Helius does not intend to invest significant additional capital in the wholly owned subsidiary but instead expects it to be financed through third-party outside sources.
Roth Conference Participation
The Company plans to present at the upcoming 37th Annual Roth Conference in Dana Point, California. Helius management, Dane Andreeff, President and Chief Executive Officer, and Jeff Mathiesen, Chief Financial Officer, is scheduled to present on Monday, March 17, 2025 at 12:00pm PT. A live and recorded webcast of the presentation will be available on the "Events" page of the Company's investor website at ir.heliusmedical.com.
About Helius Medical Technologies, Inc.
Helius Medical Technologies is a leading neurotech company in the medical device field focused on neurologic deficits using orally applied technology platform that amplifies the brain's ability to engage physiologic compensatory mechanisms and promote neuroplasticity, improving the lives of people dealing with neurologic diseases. The Company's first commercial product is the Portable Neuromodulation Stimulator (PoNS®). For more information about PoNS or Helius Medical Technologies, visit www.heliusmedical.com.
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," "expect," "continue," "will," "goal," "aim" and similar expressions. Such forward-looking statements include, among others, statements that BCI technology will be a unique and less invasive therapeutic option, that it will lead to improvements in rehabilitation of motor and cognitive functions, statements related to the ability to expedite development, and statements related to Helius's intended capitalization of Revelation Neuro.
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 Company's expectations include uncertainties associated with the Company's capital requirements to achieve its business objectives, market conditions and availability of funds from third parties to finance Revelation Neuro, Inc., the Company's ability to find additional sources of funding, manufacturing, labor shortage and supply chain risks, including risks related to manufacturing delays, the Company's ability to obtain adequate Medicare insurance coverage and to obtain a reimbursement code, the Company's ability to continue to build internal commercial infrastructure, secure state distribution licenses, market awareness of the PoNS device, future clinical trials and the clinical development process, the product development process and the FDA regulatory submission review and approval process, other development activities, ongoing government regulation, and other risks detailed from time to time in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and its other filings with the United States Securities and Exchange Commission and the Canadian securities regulators, which can be obtained from either at www.sec.gov or 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.
Investor Relations Contact
Philip Trip Taylor
Gilmartin Group
[email protected]
