Nexalin Technology Awarded Key Patent Related to its Gen-3 HALO Clarity™, a Non-Invasive, Frequency-Based Deep-Brain Stimulation Device
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The awarding of U.S. Patent No. 17/337,653 to Nexalin Technology for their Gen-3 HALO Clarity™ system represents a noteworthy development in the medical device sector. The patent for a non-invasive, frequency-based deep brain stimulation device for mental health conditions like anxiety, depression and insomnia underscores the growing trend of at-home healthcare solutions. The ability to remotely monitor patients using this technology could significantly reduce healthcare costs and improve patient compliance, as it removes the need for frequent hospital visits and provides a more comfortable treatment setting.
The potential impact on the mental health treatment market could be substantial, considering the high prevalence of these conditions and the ongoing search for drug-free alternatives. However, challenges remain, such as the adoption by healthcare professionals, patient accessibility and the effectiveness of remote monitoring compared to traditional in-person care. The long-term patent protection until 2040 offers a competitive advantage, allowing Nexalin to establish its market presence and invest in further research and development without immediate concern for copycat technologies.
From a commercial perspective, the strategic focus on regulatory clearance and international market expansion for Nexalin's Gen-3 HALO Clarity™ system is a proactive approach to capturing market share in the mental health treatment industry. The emphasis on reducing drug dependency aligns with current healthcare trends favoring non-pharmacological interventions. This positions Nexalin favorably in markets where there is a strong demand for innovative mental health treatments, especially if the device demonstrates cost-effectiveness and positive patient outcomes.
However, successful commercialization will depend on factors such as insurance coverage, healthcare provider adoption and patient awareness. The regulatory pathway and acceptance in overseas markets could also present hurdles, as medical device regulations vary significantly across countries. Investors should monitor Nexalin's progress in these areas to gauge the potential business impact and scalability of the technology.
The secured patent protection for Nexalin's technology may have positive implications for the company's financial health and stock valuation. Intellectual property rights are a critical asset for companies in the tech-driven medical device industry, as they can lead to licensing opportunities, strategic partnerships and barriers to entry for competitors. Investors typically view such developments favorably, as they can translate into sustainable revenue streams and market leadership.
It is essential to assess the company's current financial position, capital expenditure for commercial rollout and any partnerships or collaborations that might affect revenue projections. While the news is positive, investors should consider the time and investment required to achieve full market penetration and the impact of competitive technologies that may emerge in the interim. The long-term nature of the patent does provide a temporal cushion for these endeavors.
New method of use patent covers key aspects of the technology that enable patients to receive treatment from the privacy of their own homes
HOUSTON, TX, April 04, 2024 (GLOBE NEWSWIRE) -- Nexalin Technology, Inc. (the “Company” or “Nexalin”) (Nasdaq: NXL; NXLIW) today announced that the United States Patent and Trademark Office (USPTO) has awarded U.S. Patent No. 17/337,653 relating to the Company’s non-invasive, frequency-based deep brain stimulation device. The newly issued patent, entitled, “Transcranial Alternating Current Dynamic Frequency Stimulation Method for Anxiety, Depression and Insomnia (ADI),” covers the method of use utilized in the Company’s Gen-3 HALO Clarity™ system.
Mark White, CEO of Nexalin Technology, stated, “This method of use patent award marks a major achievement for the Company and follows another recent patent covering our core technology. These patents extend through 2040 and are a critical element of our overall strategy, given the mounting clinical data supporting the benefits of our noninvasive, deep frequency brain stimulation technology in the fields of insomnia, depression, and anxiety. A key differentiator for our new Gen-3 HALO Clarity™ is that, for the first time, it enables patients to receive this treatment in the privacy of their own homes with remote monitoring by a physician in Nexalin’s Virtual Clinic."
“Importantly, we are advancing our strategy for regulatory clearance in the U.S., while focusing on commercial rollout in a variety of overseas markets. Overall we are more confident than ever in the outlook for the business and our potential to transform the standard of care for the treatment of mental health disorders, as well as reducing the growing dependence on drugs that are often ineffective and may have undesirable side effects.”
The Gen-3 system reflects state-of-the-art development of Nexalin’s Deep Intracranial Frequency Stimulation (DIFS®) technology, and a significant advancement to the predecessor Gen-1 system. The Company’s technology uses a digital breakthrough in electrical waveforms to provide deep and painless brain neural stimulation. The Gen-3 system is applied through the placement of strategically positioned electrodes on the patient’s cranium, and provides deep stimulation to regions of the brain associated with mental health conditions.
About Nexalin Technology, Inc.
Nexalin designs and develops innovative neurostimulation products to uniquely and effectively help combat the ongoing global mental health epidemic. All of Nexalin’s products are non-invasive and undetectable to the human body and developed to provide relief to those afflicted with mental health issues. Nexalin utilizes bioelectronic medical technology to treat mental health issues. Nexalin believes its neurostimulation medical devices can penetrate structures deep in the mid-brain that are associated with mental health disorders. Nexalin believes the deeper penetrating waveform in its next-generation devices will generate enhanced patient response without any adverse side effects. The Nexalin Gen-2 15 milliamp (mA) neurostimulation device was recently approved in Oman and China. Additional information about the Company is available at: https://nexalin.com/.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute "forward-looking statements," These statements relate to future events or Nexalin’s future financial performance. Any statements that refer to expectations, projections or other characterizations of future events or circumstances or that are not statements of historical fact (including without limitation statements to the effect that Nexalin or its management “believes”, “expects”, “anticipates”, “plans”, “intends” and similar expressions) should be considered forward looking statements that involve risks and uncertainties which could cause actual events or Nexalin’s actual results to differ materially from those indicated by the forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Report on Form 10-K for the year ended December 31, 2023 and other filings as filed with the Securities and Exchange Commission. Copies of such filings are available on the SEC's website, www.sec.gov. Such forward-looking statements are made as of the date hereof and may become outdated over time. Such forward-looking statements are made as of the date hereof and may become outdated over time. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact:
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Dave Gentry, CEO
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407-491-4498
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