First of its kind, multi-year collaboration leverages RNS System's data to track responses of implanted RNS System patients enrolled in a biotechnology company's clinical trial
In strategic data collaboration, clinical-stage biotechnology company to pay NeuroPace up to $3.7 million over two years to gain non-exclusive access to NeuroPace's proprietary biomarker monitoring and data analysis capabilities for trial patients
MOUNTAIN VIEW, Calif., Dec. 04, 2023 (GLOBE NEWSWIRE) -- NeuroPace, Inc. (Nasdaq: NPCE), a growth-stage medical technology company focused on transforming the lives of people living with epilepsy, today announced a first of its kind strategic collaboration that will leverage RNS System's unique biomarker monitoring and data analysis capabilities. This collaboration will evaluate biomarker changes in currently implanted RNS System patients that have enrolled in a clinical-stage biotechnology company's ("Company") clinical trial of its product candidate.
"This groundbreaking collaboration demonstrates the value that our RNS System can provide through its proven ability to collect and analyze data, which is then used to generate insights that can help inform treatment strategies," said Joel Becker, President and Chief Executive Officer of NeuroPace. "We are excited to showcase the tremendous value of our data and look forward to further building on our artificial intelligence and machine learning capabilities to continue to harness the value of RNS System data in helping patients."
Under the terms of the agreement, NeuroPace will make available certain information and insights about currently implanted RNS System patients that have also enrolled in the Company's Phase 2a proof-of-concept study and consented to providing the Company data obtained through their RNS Systems. Information provided by NeuroPace will be used by the Company to help them evaluate the impact of their product candidate on certain biomarkers of patients with focal onset seizures. NeuroPace anticipates the total revenue from this collaboration to be approximately $3.7 million. The Agreement is broken out into four phases through the fourth quarter of 2025, with certain milestones correlating to each phase, the majority of which are planned to be completed prior to the end of 2024.
"Extending the benefit of the RNS System to improving clinical trial execution within the biotechnology and pharmaceutical space demonstrates NeuroPace's ability to leverage proprietary, RNS-generated data to help more people living with epilepsy," said Martha Morrell, M.D., Chief Medical Officer of NeuroPace. "Our team has analyzed retrospective data from thousands of patients demonstrating that biomarker changes captured by the RNS System may be predictive of clinical outcomes. We are excited to use these same tools to prospectively monitor patients to help determine the impact of this product candidate to patients implanted with the RNS System."
"NeuroPace's unique ability to monitor, sense, record brain activity and treat patients allows those implanted with the RNS System to benefit from optimized care as a result of clinicians having tailored insights into the impact of neuromodulation therapy, lifestyle and medical management on the patient's epilepsy," Becker also noted. "This collaboration is our first opportunity to offer these same types of insights into potential future therapies and help further refine how patients implanted with the RNS System can be optimally treated. It is an initial step into extending the benefits of and generating value for patients and clinicians from our data monitoring and analysis capabilities with the potential to provide a basis for additional future collaborations."
About NeuroPace, Inc.
Based in Mountain View, Calif., NeuroPace is a commercial-stage medical device company focused on transforming the lives of people living with epilepsy by reducing or eliminating the occurrence of debilitating seizures. Its novel and differentiated RNS System is the first and only commercially available, brain-responsive platform that delivers personalized, real-time treatment at the seizure source. The RNS System is the only system that not only provides therapy, but monitors, detects, and records brain activity, helping patients reduce their seizure burden, while helping clinicians provide comprehensive patient care.
Forward Looking Statements
In addition to background and historical information, this press release contains "forward-looking statements" based on NeuroPace's current expectations, forecasts and beliefs, including among other things, the statements related the revenue anticipated to be received by NeuroPace from the biotechnology company collaboration, the potential benefits of the collaboration, and execution of the collaboration. These forward-looking statements are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Actual outcomes and results could differ materially due to a number of factors. These and other risks and uncertainties include those described more fully in the section titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operation" and elsewhere in NeuroPace's public filings with the U.S. Securities and Exchange Commission (SEC), including its Quarterly Report on Form 10-Q for the period ended September 30, 2023 filed with the SEC on November 6, 2023, as well as any other reports that it may file with the SEC in the future. Forward-looking statements contained in this announcement are based on information available to NeuroPace as of the date hereof. NeuroPace undertakes no obligation to update such information except as required under applicable law. These forward-looking statements should not be relied upon as representing NeuroPace's views as of any date subsequent to the date of this press release and should not be relied upon as a prediction of future events. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of NeuroPace.
Investor Contact:
NeuroPace:
Jeremy Feffer
Managing Director
LifeSci Advisors
jfeffer@lifesciadvisors.com
