NeuroOne® Awarded U.S. Patent Covering Novel and Proprietary Thin Film Electrode Platform

Rhea-AI Summary

NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) announced the award of a new patent for its innovative thin film neural depth electrode technology. The patent, titled "Improved Neural Depth Probes and Related Systems and Methods," enhances the company's intellectual property portfolio, which now includes three licensed patents, eight pending applications in the U.S., and several foreign applications.

This technology aims to improve surgical outcomes for various neurological disorders, including epilepsy and Parkinson's disease. CEO Dave Rosa emphasized the company's commitment to advancing its electrode technology and securing its proprietary methods.

Positive

• Awarded a new patent for innovative thin film neural depth electrode technology.
• Patent enhances NeuroOne's intellectual property portfolio, including three licensed patents and eight pending U.S. applications.
• Technology has potential applications for various neurological disorders, improving surgical options and outcomes.

Negative

• Uncertainties surrounding the clinical and regulatory pathways for new technology.
• Risks associated with market acceptance and commercialization efforts.
• Dependence on external factors like supply chain issues and labor shortages.

New patent adds value to NeuroOne's growing patent portfolio in the U.S. and abroad

EDEN PRAIRIE, Minn., March 7, 2023 /PRNewswire/ -- NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) ("NeuroOne" or the "Company"), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders, today announces it has been awarded a patent from the United States Patent and Trademark Office relating to its novel and proprietary electrode technology.

The patent, titled "Improved Neural Depth Probes and Related Systems and Methods," adds to NeuroOne's intellectual property portfolio, and is focused on a layered thin film neural depth electrode. The electrode could have potential applications in a wide variety of neurological procedures for both diagnostic and therapeutic use. Conditions that could potentially benefit from this technology include epilepsy, Parkinson's disease, chronic back pain due to failed back surgeries, and mood- based disorders associated with depression, severe OCD, etc.

In addition to this patent, NeuroOne's patent portfolio includes three licensed patents, eight pending U.S. applications, and several foreign applications covering a wide variety of thin-film electrode technologies, including both neural and spinal cord electrodes having unique properties to optimize the functionality and minimized profile of those electrodes, enabling less invasive surgeries. More specifically, the inventions described in the patent applications include electrodes and related devices with drug delivery capabilities, spinal cord stimulation electrodes, ablation electrodes, and electrodes with temperature sensing features.

Dave Rosa, CEO of NeuroOne, comments, "NeuroOne is committed to protecting our groundbreaking electrode technology with respect to device claims and proprietary manufacturing processes. With a plethora of patent applications both in the U.S. and overseas relating to procedures in epilepsy, Parkinson's disease, chronic back pain and drug/gene delivery, we believe the Company is well positioned to impact a number of key neurological conditions with patent-protected novel electrodes. We look forward to continued success with our patent applications."

About NeuroOne

NeuroOne Medical Technologies Corporation is a developmental stage company committed to providing minimally invasive and hi-definition solutions for EEG recording, brain stimulation and ablation solutions for patients suffering from epilepsy, Parkinson's disease, dystonia, essential tremors, chronic pain due to failed back surgeries and other related neurological disorders that may improve patient outcomes and reduce procedural costs. The Company may also pursue applications for other areas such as depression, mood disorders, pain, incontinence, high blood pressure, and artificial intelligence.  For more information, visit nmtc1.com. 

Forward Looking Statements

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Except for statements of historical fact, any information contained in this presentation may be a forward–looking statement that reflects NeuroOne's current views about future events and are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. In some cases, you can identify forward–looking statements by the words or phrases "may," "might," "will," "could," "would," "should," "expect," "intend," "plan," "objective," "anticipate," "believe," "estimate," "predict," "project," "potential," "target," "seek," "contemplate," "continue, "focused on," "committed to" and "ongoing," or the negative of these terms, or other comparable terminology intended to identify statements about the future. Forward–looking statements may include statements regarding the development of the Company's electrode technology program, applications for, or receipt of, regulatory clearance, applications for, or receipt of, patent protection, potential applications for existing patents, the timing and extent of product launch and commercialization of our technology, clinical and pre-clinical testing, what the future may hold for electrical stimulation and NeuroOne's potential role, business strategy, market size, potential growth opportunities, future operations, future efficiencies, and other financial and operating information. Although NeuroOne believes that we have a reasonable basis for each forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. Our actual future results may be materially different from what we expect due to factors largely outside our control, including risks that the partnership with Zimmer Biomet may not facilitate the commercialization or market acceptance of our technology; whether due to supply chain disruptions, labor shortages, the impact of COVID-19 or otherwise; risks that our technology will not perform as expected based on results of our pre-clinical and clinical trials; risks related to uncertainties associated with the Company's capital requirements to achieve its business objectives and ability to raise additional funds: the risk that we may not be able to secure or retain coverage or adequate reimbursement for our technology; uncertainties inherent in the development process of our technology; risks related to changes in regulatory requirements or decisions of regulatory authorities; that we may not have accurately estimated the size and growth potential of the markets for our technology; risks relate to clinical trial patient enrollment and the results of clinical trials; that we may be unable to protect our intellectual property rights; and other risks, uncertainties and assumptions, including those described under the heading "Risk Factors" in our filings with the Securities and Exchange Commission. These forward–looking statements speak only as of the date of this press release and NeuroOne undertakes no obligation to revise or update any forward–looking statements for any reason, even if new information becomes available in the future.

Caution: Federal law restricts this device to sale by or on the order of a physician.

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SOURCE NeuroOne Medical Technologies Corporation

FAQ

What is NeuroOne's new patent about?

NeuroOne's new patent relates to an improved thin film neural depth electrode technology for use in various neurological procedures.

What conditions could benefit from NeuroOne's technology?

The technology could potentially benefit patients with epilepsy, Parkinson's disease, chronic back pain, and mood disorders.

How does the new patent impact NeuroOne's business?

The new patent strengthens NeuroOne's intellectual property portfolio, potentially enhancing market position and revenue opportunities.

When was the patent awarded to NeuroOne?

The patent was awarded on March 7, 2023.

What is the stock symbol for NeuroOne Medical Technologies Corporation?

NeuroOne's stock symbol is NMTC.