BOSTON and NEW YORK, Jan. 17, 2023("PathMaker"), a near-commercial stage neuromodulation company developing breakthrough non-invasive systems for the treatment of serious neurological disorders, announced today an investment of $600,000 through the MDA Venture Philanthropy (MVP) program to PathMaker to advance its work in amyotrophic lateral sclerosis (ALS). MDA uses the Venture Philanthropy program to invest in companies committed to clinical application of high-impact, novel treatments for neuromuscular diseases, including ALS. This funding will support the launch of an ALS early feasibility study (EFS) using PathMaker's breakthrough technology for motor neuron hyperexcitability suppression.
"We are truly grateful and honored to have received the support of MDA through the MVP program as we prepare for the clinical application of our non-invasive approach in ALS," said Nader Yaghoubi, M.D., Ph.D., Co-Founder and Chief Executive Officer of PathMaker. "There is a severe unmet need for novel treatment options for this rapidly progressive neurodegenerative disease. Our technology works by suppressing overactive spinal motor neurons found in people with ALS and could represent a new therapeutic treatment modality for this devastating disease. We are very pleased to have the support of MDA and its network of clinicians and patient advocacy groups."
PathMaker's MyoRegulator® ALS device - The MyoRegulator® ALS device uses non-invasive neuromodulation to suppress hyperexcitable motor neurons in ALS.
"PathMaker's non-invasive approach to the treatment of ALS stands out for its innovation and already shows great potential in pre-clinical studies," said Sharon Hesterlee, Ph.D., Chief Research Officer at MDA, "We are excited to be part of the development of this unique technology and look forward to its application in clinical trials."
In the past year, PathMaker was awarded the $250,000 CERF Prize in ALS for Medical Electronics from the UK-based Cullen Education and Research Fund (CERF) in recognition of the company's work towards the advancement of its non-invasive technology for ALS, and in 2021 received a $371,000 NIH grant to apply its technology to ALS.
To learn more about the Muscular Dystrophy Association and the MVP program, please visit https://www.mda.org/science/mda-venture-philanthropy.
About PathMaker Neurosystems Inc.
PathMaker Neurosystems is a near-commercial stage neuromodulation company developing breakthrough non-invasive systems for the treatment of people with serious neurological disorders such as stroke and amyotrophic lateral sclerosis.
About Muscular Dystrophy Association
Muscular Dystrophy Associationand follow MDA on Instagram, Facebook, Twitter, TikTok, LinkedIn, and YouTube. For more information visit mda.org.
Source: PathMaker Neurosystems Inc.
Media contact:
PathMaker PR
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/28e478ae-3678-4fa6-9d3e-0c08a8513976
