MyndTec Brain Activity Technology Licensed from UHN Awarded U.S. Patent
Mississauga, Ontario–(Newsfile Corp. – April 9, 2024) – MyndTec Inc. (CSE: MYTC) (“MyndTec” or the “Company“), an emerging player in neurological treatment and rehabilitation, today announced that the U.S. Patent and Trademark Office has granted U.S. Patent No. 11,955,217, to which MyndTec holds exclusive rights from the University Health Network (“UHN“). The granted patent is directed generally at technology used for the treatment of neural structural damage caused by certain diseases of the central nervous system and for controlling user devices through the analysis of brain signals.
“As an emerging player in neurological treatments, MyndTec is excited about the potential of the patented technology. We continue to explore the possibilities of using advanced technologies, including the use of brain signals, to advance the treatment of diseases of the central nervous system, including stroke, that affect millions of people around the world annually,” said Craig Leon, CEO of MyndTec.
The Company continues to expand its intellectual property portfolio, which includes technologies advanced in-house, and through its partnerships with leading research organizations, including the UHN that is pioneering research and clinical care for disorders and diseases of the brain and spine through its Krembil Brain Institute and is consistently ranked number one on a list of Canada’s top 40 research hospitals by Research Infosource Inc.
About MyndTec
MyndTec is a CSE-listed medical technology company focused on using neurostimulation to restore function and improve treatment for individuals who have suffered damage to the central nervous system, including as a result of stroke. The Company’s commercial product MyndMove™ is a non-invasive functional electrical stimulation-based intervention. MyndMove™ uses neuroplasticity mechanisms to stimulate the 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 company is researching new treatments and uses for neurostimulation and other technologies to improve patient outcomes.
For more information visit the Company’s website www.myndtec.com.
Contact Information
Craig Leon, CEO
MyndTec Inc.
investor.relations@myndtec.com
Tel: (905) 919-3144
Bill Mitoulas, Principal
Venture North Capital Inc.
billm@venturenorthcapital.com
Tel: (416) 479-9547
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. 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.
Forward-looking statements are necessarily based on a number of estimates and assumptions that include, but are not limited to: expected future development; general economic conditions; the ability of the Company to execute on its business objectives; and other estimates and assumptions described in the Company’s Listing Statement dated February 18, 2022 and other public filings, including its most recent MD&A, available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Forward-looking statements are inherently subject to a number of significant risks and uncertainties that could cause actual results or events to differ materially from those described in or implied by the forward-looking statements. Important risks and uncertainties that could cause actual results or events to differ materially from expectations include, but are not limited to: the Company’s ability to continue as a going concern; the Company’s research, development and commercialization of its products could be stopped or delayed if any third party fails to provide sufficient quantities of products or components, or fails to do so at acceptable quality levels or prices, or fails to maintain or achieve satisfactory regulatory compliance; the Company expects to incur significant ongoing costs and obligations relating to its investment in infrastructure, growth, research and development, licensing, regulatory compliance and operations; and other risks and uncertainties described in its Listing Statement and other public filings. The Company has attempted to identify important factors that could cause actual results, performance or achievements to vary from those expectations expressed or implied by the forward-looking statements, however, there may be other factors that cause results, performance or achievements not to be as expected and that could cause actual results, performance or achievements to differ materially from current expectations. These forward-looking statements are only current as of the date of this news release. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties and the Company provides no assurance that they will prove to be correct. Readers should not place undue reliance on such forward-looking statements. The Company does not undertake any obligation to update forward-looking statements contained herein, other than as required by applicable law. All forward-looking statements are qualified in their entirety by this cautionary statement.
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