Helius Medical Technologies (TSX:HSM) said today that it closed an offering worth nearly $10 million (C$12.5 million) for the portable neurostimulation device it’s developing.
Newtown, Pa.-based Helius said it plans to use the proceeds from the 6.6-million-share flotation to complete a trial of the PoNS therapy in treating mild to moderate brain injury and the launch of a new trial in multiple sclerosis and another in cognition. The proceeds are also earmarked for R&D to complete an FDA submission, the company said.
Last year Helius closed an $8.1 million round. Last week, the company touted results from a pilot study in MS showing that patients treated with the PoNS device showed significant improvement in sensory organization tests, with functional-MRI scans showing significant blood oxygen level-dependent signal changes in the left primary motor cortex.
The post Helius Medical closes $10m offering for portable neurostim trials appeared first on MassDevice.
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