|WeHealth by Servier and PathMaker Neurosystems form partnership for a Breakthrough Non-Invasive Neuromodulation Device for the Treatment of Spasticity|
|Wednesday, 09 January 2019 01:06|
Jan. 9, 2019 12:00 UTC
WeHealth by Servier and PathMaker Neurosystems form partnership for a Breakthrough Non-Invasive Neuromodulation Device for the Treatment of Spasticity
PARIS & BOSTON--(BUSINESS WIRE)-- WeHealth by Servier, the e-health department of Servier Group, and PathMaker Neurosystems, a pioneering clinical-stage bioelectronic medicine company, announced today the closing of a partnership agreement to develop and commercialize the first neuromodulation technology for non-invasive treatment of spasticity. The agreement between WeHealth and PathMaker establishes an exclusive world-wide distribution arrangement, excluding the U.S. and Japan, for PathMaker’s MyoRegulator™ device.
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As part of the agreement, WeHealth will fund a recently initiated European clinical trial evaluating MyoRegulator for non-invasive treatment of spasticity secondary to stroke, which is currently being conducted by France’s prestigious Brain and Spine Institute (Institut du Cerveau et de la Moelle Epinière – ICM) at the Pitié-Salpêtrière Hospital in Paris. WeHealth will also fund a larger European clinical trial intended to support reimbursement coverage. PathMaker will receive an upfront payment, clinical/regulatory milestones and commercial royalties from future sales of the device and disposables (single-use electrodes) in the Servier territories.
“We are excited by WeHealth’s commitment to advancing next-generation treatments for chronic neuromotor conditions,” said Nader Yaghoubi, M.D., Ph.D., President and Chief Executive Officer of PathMaker. “This significant partnership will provide a large number of patients with access to this breakthrough non-invasive treatment through WeHealth’s international presence in more than 100 countries worldwide. We look forward to the positive impact this partnership will have on the patients waiting for meaningful and safe treatment, and on the development of our company.”
“The MyoRegulator device has clear and groundbreaking benefits for patients with serious neurological conditions. Our partnership with PathMaker represents an opportunity for WeHealth to contribute to the advancement of a truly novel technology that is moving the field of bioelectronic medicine forward,” said Dr. David Guez, General Director of WeHealth by Servier. “This is WeHealth's first-ever partnership in the field of neurology.”
About MyoRegulatorTM and DoubleStimTM technology
About WeHealth by Servier
About PathMaker Neurosystems
Source: PathMaker Neurosystems