LOS ANGELES, July 12, 2023 (GLOBE NEWSWIRE) -- NeuroSigma, Inc. (“NeuroSigma”) today announced the launch of NeuroSigma Pte, Ltd., a Singapore corporation (“NeuroSigma Singapore”), representing NeuroSigma’s first foreign subsidiary. NeuroSigma is a Los Angeles-based bioelectronics company using external trigeminal nerve stimulation (eTNS) technology to treat neurological and neuropsychiatric disorders. The company is currently commercializing its lead product, the Monarch eTNS System, which is the first non-pharmaceutical treatment for pediatric ADHD cleared by the U.S. Food and Drug Administration (FDA).
“NeuroSigma’s mission is to bring its innovative bioelectronics therapies to the global patient marketplace. We believe Singapore is an ideal launching point for Southeast Asia. Singapore has a sophisticated business-friendly environment and has been particularly welcoming to the biotechnology industry. After multiple trips to Singapore, we have forged lasting relationships with some of the country’s leading universities and hospitals and received assistance from government agencies including the Biomedical Sciences Industry Partnership Office (BMSIPO), a national platform under the Agency for Science, Technology and Research (A*STAR),” said Colin Kealey, M.D., President and CEO of NeuroSigma.
“The academic and scientific community in Singapore includes some of the world’s leading experts and innovators in the convergence of neuropsychiatry, neurostimulation and neuroimaging, which makes Singapore an excellent base from which to launch NeuroSigma’s next-generation external trigeminal nerve stimulation devices and conduct additional research into devices and technologies addressing significant unmet medical needs. We are already in discussions with local experts in the field regarding promising research collaborations,” added Dr. Kealey.
With initial seed funding provided by Checkmate Capital Group, NeuroSigma Singapore anticipates initiating regulatory applications with the Singapore Health Sciences Authority to allow NeuroSigma Singapore to begin commercializing the Monarch eTNS system in Singapore later this year.
“This funding marks Checkmate’s second investment this year in a biotechnology enterprise based in Singapore. We are impressed with the support that Singapore provides to biotechnology companies and the cutting-edge research and innovation that it fosters. We are delighted to help NeuroSigma strategically position its Southeast Asia operations in Singapore, where NeuroSigma’s eTNS technology has been particularly well-received. From here, NeuroSigma can expand its global footprint and accelerate the commercialization and sales of the Monarch eTNS System in Asia,” stated Tom Paschall, CEO of Checkmate Capital Group and a Director of NeuroSigma.
About NeuroSigma
NeuroSigma is a Los Angeles, California-based bioelectronic medical device company developing technologies to transform medical practice and patients' lives. The company is commercializing the Monarch eTNS System, which is the first non-drug treatment for pediatric ADHD cleared by the FDA. Pipeline indications for the Monarch and NeuroSigma’s TNS platform include a wide spectrum of neurological and neuropsychiatric disorders, such as ADHD, drug-resistant epilepsy, and depression. For more information about NeuroSigma, please visit www.neurosigma.com. For more information on the Monarch eTNS System, please visit www.monarch-etns.com.
Contact:
Colin Kealey, M.D., President of NeuroSigma at CKealey@neurosigma.com
