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NeuroOne Medical Technologies Corporation Reduces Debt by $3.3 Million and Strengthens Balance Sheet
Company Preparing for Commercialization of Thin Film Electrodes Technology EDEN PRAIRIE, Minn.--(BUSINESS WIRE)-- NeuroOne Medical Technologies Corporation
About this update from Neuroone Medical Technologies Corporation
[{"type":"text","content":"\nCompany Preparing for Commercialization of Thin Film Electrodes Technology\n\n EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--\nNeuroOne Medical Technologies Corporation (OTCQB: NMTC; NeuroOne), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders, today announces that during July 2020, the Company retired approximately $3.3 million of debt, strengthening the Company’s balance sheet. NeuroOne is now transitioning to advancing commercialization planning, building its financial infrastructure, and additional product development.\n\n\n“Now that we have shored up our balance sheet, we are well positioned to prepare for commercialization of our EVO Cortical Electrode product line with Zimmer Biomet, our strategic commercialization partner, accelerate additional research and development efforts, and explore uplisting to a national securities exchange,” says Dave Rosa, president and CEO, NeuroOne.\n\n\nThe result of a collaboration with the University of Madison-Wisconsin’s Alumni Research Foundation and the Mayo Foundation for Medical Education and Research, EVO is designed for the diagnosis and treatment of various neurological conditions, including epilepsy. EVO is based on thin-film, high-definition electrodes designed to record and monitor brain activity and stimulate brain tissue for up to 30 days. Additional potential future applications include: Parkinson’s disease (PD), brain tissue ablation and chronic pain due to failed back surgeries.\n\n\nEVO received FDA 510(k) clearance in December 2019. By the end of 2020, NeuroOne plans to complete a 510(k) submission to the FDA of its stereoelectroencephalography (sEEG) Depth Electrode.\n\n\nAbout NeuroOne\n\n\nNeuroOne Medical Technologies Corporation is a developmental stage company committed to providing minimally invasive and hi-definition solutions for EEG recording, brain stimulation and ablation solutions for patients suffering from epilepsy, Parkinson's disease, essential tremors and other related neurological disorders that may improve patient outcomes and reduce procedural costs. Visit https://www.n1mtc.com/.\n\n\nForward Looking Statements \n\n\nThis press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of th...