NEUROPLASTICITY MARKET ANALYSIS

Market News

Recent Developments

New product approval

• Cognixion, a developer of noninvasive Brain-Computer Interface (BCI) announced that its flagship device, the Cognixion ONE Axon, has been granted a U.S. Food and Drug Administration (FDA) Breakthrough Device designation. The designation will allow the company to streamline their development and validation processes with prioritized interactive feedback from U.S. FDA review staff in preparation for regulatory submission. This special FDA Breakthrough designation is awarded to devices that demonstrate the potential to provide more effective treatment of life-threatening or irreversibly debilitating diseases or conditions for which no clear alternatives exist.
• In November 2022, MyndTec Inc., a medical device company, announced the launch of its newest product, MyndStepTM, to its functional electrical stimulation (FES) portfolio. It 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.

Acquisition and partnerships

• In June 2022, the Institute of Functional Neuroscience (IFN), a treatment and rehabilitation center utilizing the latest technologies in neuroplasticity research, and MetaCell, an innovative life science software company specializing in cutting-edge research software for major pharma, biotech, and academic institutions, partnered to launch IFN Neurologic. This application will help clinicians to better serve patients with neurological disorders and provide treatments in the functional neuroscience domain.
• In May 2022, Blackrock Neurotech, a company that develops brain-computer interface (BCI) technology platforms for the development of implantable solutions, announced the acquisition of MindX, a software company, to bolster its development of technologically advanced brain-computer interface products.