Yahoo Finance Nano-Cap Nexalin Technology Secures US Patent For Stimulation Device For Alzheimer's And Dementia Treatment
On Thursday, Nexalin Technology Inc. (NASDAQ:NXL) announced that the United States Patent and Trademark Office (USPTO) had awarded U.S. Patent No 12,011,591 to the company’s noninvasive Deep Intracranial Frequency Stimulation (DIFS) medical device, which is used to treat Alzheimer’s and other dementia-related brain diseases.
The patent was awarded on June 18.
The newly issued patent, “Transcranial Alternating Current Dynamic Frequency Stimulation (TACS) Method for Alzheimer’s and Dementia,” relates to the company’s Gen-2 and Gen-3 brain stimulation medical device.
Nexalin told that the device administers a proprietary frequency-based waveform that is designed to treat patients in a pain-free and undetectable manner.
Mark White, CEO of Nexalin Technology, stated, “According to Grandview Research, the global dementia treatment market is estimated to be in excess of $18 billion and is projected to reach over $28 billion by 2030...According to the World Health Organization, more than 55 million people currently live with dementia, and nearly 10 million new cases are diagnosed every year. The market is further bolstered by significant investments in research and development.”
“According to the Alzheimer’s Association, annual funding for Alzheimer’s and dementia research by the federal government is estimated to be in excess of $3 billion annually, which underscores the critical need for innovative treatments like Nexalin’s neurostimulation device. Our growing body of published clinical studies supports the clinical benefits of our device for the treatment of a variety of neurological diseases associated with deep brain structures, ranging from treatment-resistant depression to migraines, anxiety, insomnia, addiction, and PTSD. Similarly, we believe that our DIFS technology holds the potential to revolutionize the standard of care for additional mental health disorders such as Alzheimer’s and dementia.”
The Gen-2 and Gen-3 stimulation techniques rely on strategically positioned electrodes placed on the patient’s cranium and provide deep stimulation to brain regions associated with mental health conditions.
Price Action: At last check Thursday, NXL shares were up 36.5% at $1.42 during the premarket session.
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This article Nano-Cap Nexalin Technology Secures US Patent For Stimulation Device For Alzheimer's And Dementia Treatment originally appeared on Benzinga.com
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