The award-winning Canadian MyndMove therapy from MyndTec. Inc joins SoftBank-backed rehab robotics leader, Fourier Intelligence's network of partners
Singapore, Singapore--(Newsfile Corp. - March 22, 2022) - Fourier Intelligence has announced a strategic alliance partnership with MyndTec Inc., an award-winning Canadian medical technology company specialising in innovative therapeutic medical devices.
This partnership will focus on the distribution of MyndMove, a non-invasive functional electrical stimulation-based intervention, to the ever-expanding global network of Fourier Intelligence.
A virtual signing ceremony was held to commemorate the partnership between both parties. MyndTec's CEO, Craig Leon, Co-Founder, Dr Milos R. Popovic, Fourier Intelligence Co-Founder and Global HQ CEO, Zen Koh, General Manager, Owen Teoh and Operations Director, Sandra Lee, attended the virtual event.
From top left: Mr Owen Teoh, General Manager, Fourier Intelligence, Dr Milos R. Popovic, Co-Founder MyndTec Inc., and Ms Sandra Lee, Operations Director, Fourier Intelligence.
From bottom left: Mr Craig Leon, CEO of MyndTec Inc. and Mr Zen Koh, Fourier Intelligence Global HQ CEO
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This partnership is timely as both parties recently reached strategic milestones. Fourier Intelligence received a Series D growth investment led by the SoftBank Group and backed by the Saudi Aramco P7 Venture Fund and the Yuanjing Capital earlier this year. MyndTec met all the requirements of the Canadian Securities Exchange (CSE) and began trading its common shares on the CSE on February 24th under the ticker symbol MYTC.
"Our partnership with MyndTec Inc. signifies yet another successful strategic collaboration with market leaders to offer innovative and clinically effective technology for our patients globally," said Zen Koh, Co-Founder and Global HQ CEO of Fourier Intelligence. "MyndMove, an electrical stimulation-based intervention, integrates perfectly into Fourier's RehabHub solution and complement our existing product/technology portfolio. Fourier will continue our investment into more of such joint technological developments to better provide highly integrated intelligent rehabilitation technologies to empower clinicians and patients."
Fourier's global network spans over 50 countries to ensure a broad market outreach for innovative technologies. With joint laboratories with some of the top research institutes in the world such as ETH Zürich, University of Melbourne, and Shirley Ryan AbilityLab in Chicago, Fourier is set to chart the new frontier of innovative medical technologies.
MyndMove therapy
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RehabHubTM
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"We are excited to enter into this meaningful partnership with Fourier Intelligence to strategically integrate our MyndMove technology into RehabHub. Fourier's proven track record establishing globally successful RehabHub, positively changing patient lives globally and the addition of MyndTec's innovative MyndMove therapy to this network will enable us to reach out to more patients worldwide," said Craig Leon, CEO of MyndTec.
MyndTec's medical devices are designed to improve function, maximise independence, and enhance the quality of life for individuals with upper limb paralysis due to stroke, spinal cord injury, or some cases of traumatic brain injury.*
MyndTec Inc. also partners with several organisations such as the KITE Research Institute, the research arm of the Toronto Rehabilitation Institute - University Health Network and the University of Toronto to develop and commercialise MyndMove therapy. The MyndMove therapy is also supported by numerous clinical studies, including randomised controlled trials in stroke and spinal cord injuries. The embedded stimulation protocols in MyndMove allows clinicians to stimulate natural, purposeful, and functional movements in patients.
*Disclaimer: MyndMove claims may differ depending on jurisdiction. Please contact MyndTec for details.
Media Contact
Fourier Intelligence
Grace NG
Senior Marketing Manager
Email: marketing.globalhq@fftai.com
MyndTec Inc.
Craig Leon
Email: investor.relations@myndtec.com
(416) 569-0430
About MyndTec
Co-founded in 2008 by Dr. Milos Popovic, MyndTec is a Canadian medical technology company dedicated to the development and commercialization of innovative products that improve function, maximize independence and enhance the quality of life for individuals who have suffered injury to the central nervous system as a result of stroke, spinal cord injury and certain traumatic brain injuries. The Company develops non-invasive neurological and nervous system electrical stimulation therapeutics for the treatment of neurological diseases and injury specifically targeted to markets with large, growing and global patient populations. The Company's flagship product MyndMove is a non-invasive functional electrical stimulation-based intervention. MyndMove uses neuroplasticity mechanisms to stimulate development of new neural efferent and afferent pathways allowing patients to re-establish voluntary movement and improve independence in their activities of daily living. The MyndMove system offers trained therapists the ability to assist individuals affected with paralysis to improve voluntary control of their limbs. The MyndMove therapy system offers a broad spectrum of sophisticated functional electrical stimulation software protocols which therapists customize to patient needs to enable meaningful controlled movements via proprietary stimulation technology.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements that constitute "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). All statements in this news release that are not historical facts are forward-looking statements, including, but not limited to, all statements regarding: events, performance or results of operations that the Company believes, expects or anticipates will or may occur in the future; and its strategic re-launch of MyndMove devices in the United States. Forward-looking statements are typically, but not always, identified by words such as: "believes", "expects", "aim", "anticipates", "intends", "estimates", "plans", "may", "should", "could", "continue", "would", "will", "potential", "scheduled", "goal", "target", or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved.
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