Nexalin Technology Announces Formation of New Military & Government Advisory Board to be Led by Government Affairs Veteran David Lasseter

Rhea-AI Summary

Nexalin Technology announces the formation of a Military & Government Advisory Board to support its deep-brain stimulation devices within U.S. government agencies. The Advisory Board will work closely with the company in formulating strategic direction and implementing commercialization. The company welcomes David Lasseter, former Deputy Assistant Secretary of Defense for Policy, as the leader of the Advisory Board.

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• Nexalin Technology forms a Military & Government Advisory Board to support its deep-brain stimulation devices within U.S. government agencies. This collaboration can lead to partnerships with various government agencies, potentially increasing the adoption of Nexalin's devices. The federal budget for mental health services continues to grow, with approximately $16.6 billion allocated for mental health services for veterans alone in the President's 2024 federal budget request.

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HOUSTON, TEXAS, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Nexalin Technology, Inc. (the “Company” or “Nexalin”) (Nasdaq: NXL; NXLIW), today announced the formation of a Military & Government Advisory Board ( “Advisory Board”) to support its non-invasive, frequency-based, deep-brain stimulation devices within U.S. government agencies. Spearheaded by David F. Lasseter, former Deputy Assistant Secretary of Defense for Policy and leading government affairs veteran, the Advisory Board will work closely with the Company in formulating the strategic direction and implementing the commercialization of the Company’s devices.  The Advisory Board is the latest Company initiative following its establishment of Nexalin America, a division aimed at fostering and enhancing relationships within and throughout federal government and public sector organizations including the U.S. Department of Defense (“DoD”), U.S. Department of Veterans Affairs, and U.S. Department of Health and Human Services..

The Company welcomes the participation of David Lasseter on the Advisory Board. Mr. Lasseter is the founder of Horizons Global Solutions, LLC, where he provides consulting and advisory solutions to clients, specializing in national security, law enforcement, intelligence, and biotechnology. Mr. Lasseter has served in high-level government positions, including Deputy Assistant Secretary of Defense for Policy and, prior to his tenure at the DoD, a Deputy Assistant Attorney General for Legislative Affairs at the Department of Justice. Previously, Mr. Lasseter was a Director of Government Relations at United Technologies Corporation. He also served as former Congressman Blake Farenthold’s (TX-27) chief of staff managing three offices and all policy, financial, and administrative issues. In addition, Mr. Lasseter served as former Congressman Jeff Miller’s (FL-1) military legislative assistant and counsel. Before working in Congress, Mr. Lasseter served on active duty with the Marine Corps Office of Legislative Affairs where he provided strategic coordination within Headquarters, U.S. Marine Corps. He began his active duty Marine Corps career in Camp Lejeune, North Carolina with the 2nd Marine Division where he served multiple combat tours supporting Operation Iraqi Freedom with 3rd Battalion, 6th Marines and 2nd Battalion, 2nd Marines. Mr. Lasseter began his public sector career working for former Senator Richard Shelby of Alabama before attending Marine Corps Officer Candidate School in Quantico, Virginia, and being commissioned as a Second Lieutenant in 2002. He received his undergraduate degree from the University of Georgia and a Juris Doctor from the University of Alabama School of Law. He has also attended various DoD schools and currently serves in the Marine Corps Reserve.

Mark White, CEO of Nexalin Technology stated, “The establishment of our Military & Government Advisory Board is quite timely as we advance the rollout of our technology within the government sector.  In fact, the federal budget for mental health services continues to grow, as illustrated by the President’s 2024 federal budget request, which included approximately $16.6 billion in mental health services for veterans alone, an increase from $15 billion in the previous year. Towards this end, I am honored to welcome David to lead our new Advisory Board, given his impressive track record, as well as the breadth and depth of his relationships within the DOD, Department of Veterans Affairs, Department of Health & Human Services, and other public agencies, which should be invaluable as we seek to engage partnerships with various government agencies. We look forward to leveraging his skill set in order to bring our new and drug-free therapy to active military personnel and veterans with PTSD, traumatic brain injury, anxiety, depression, insomnia, and other targeted indications. We believe that our neurostimulation devices have the potential to become a standard of care for treating mental health issues as they allow deeper penetration into the brain and provide enhanced patient response without adverse side effects.”

David Lasseter noted, “PTSD and other forms of mental illness have long been a major issue among our veterans and active military, not to mention the short and long-term effects of traumatic brain injury.  We owe it to our nation’s heroes to provide them with the best treatments available to restore their well-being and dignity.  After evaluating the extensive clinical data behind Nexalin’s drug-free and non-invasive deep brain stimulation devices, I truly believe this technology holds enormous promise.  I look forward to working closely with Nexalin to advance the technology within the military and other agencies across the government sector to bring hope to countless numbers of individuals and their families impacted by these often debilitating conditions.”

About Nexalin Technology, Inc.
Nexalin designs and develops innovative neurostimulation products to uniquely and effectively help combat the ongoing global mental health epidemic. All Nexalin’s products are non-invasive and undetectable to the human body and provide relief to those afflicted with mental health issues without adverse side effects. Nexalin utilizes bioelectronic medical technology to treat mental health issues without the need for drugs or psychotherapy. Nexalin believes the 15 milliamp medical device can penetrate structures deep in the mid-brain that are associated with mental health disorders. Nexalin believes the deeper penetrating waveform will generate enhanced patient response without any adverse side effects. The Nexalin tACS device was recently approved in China by the National Medical Products Administration (NMPA) for the treatment of insomnia and depression. In May 2023, Nexalin formalized a joint venture with Wider Come Limited (“Wider”), a company formed under the laws of the People’s Republic of China. The joint venture has been established to engage in the clinical development, marketing, sale, and distribution of the Nexalin device in the Asia Pacific region. This new entity will conduct clinical research and implement a business distribution plan for the Nexalin device in the Asia Pacific region. Additional information about the Company is available at: https://nexalin.com/.

FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute "forward-looking statements," including with respect to the Company’s initial public offering. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:
Crescendo Communications, LLC
Tel: (212) 671-1020
Email: NXL@crescendo-ir.com

FAQ

What is the purpose of the Military & Government Advisory Board?

The purpose of the Advisory Board is to support Nexalin Technology's deep-brain stimulation devices within U.S. government agencies.

Who is leading the Advisory Board?

David Lasseter, former Deputy Assistant Secretary of Defense for Policy, is leading the Advisory Board.

What is the potential impact of the collaboration with government agencies?

The collaboration can lead to partnerships with various government agencies, potentially increasing the adoption of Nexalin's devices.

What is the federal budget allocation for mental health services?

The President's 2024 federal budget request includes approximately $16.6 billion for mental health services for veterans alone.