NeuroOne Medical Technologies (Nasdaq:NMTC) announced today that it commercially launched its Evo sEEG electrode line in the U.S.
Zimmer Biomet holds exclusive worldwide distribution rights to the Evo Cortical and sEEG product lines. NeuroOne expects the line to utilize Zimmer Biomet’s Rosa One Brain robotic surgery platform for neurosurgical procedures. Zimmer paid $3.5 million to NeuroOne under the deal in August 2022. That came after an up-front payment of $2 million in 2020. NeuroOne began shipping commercial orders in the deal in November 2022.
“The commercial launch of the Evo sEEG platform represents one of the most impactful milestones in our company’s history,” said NeuroOne CEO Dave Rosa. “Paired with Zimmer Biomet’s ROSA One Brain robotic platform and broad distribution network, we believe the Company is well positioned in the market given the synergies that exist between our novel thin film electrode platform and Zimmer Biomet’s robotic platform. Importantly, this new technology potentially provides NeuroOne with a steady and predictable new revenue stream. We expect to complete our initial case within the next 30 days.”
About the Evo sEEG electrode
Evo sEEG offers up to 30 days of recording, monitoring and stimulation of electrical signals at the subsurface level of the brain. It previously held clearance for up to 24 hours of use. In August, NeuroOne submitted a special FDA 510(k) application to extend use to up to 30 days.
The FDA cleared the Evo sEEG electrode for 30-day use last month.
NeuroOne’s electrodes provide a similar function at the subsurface level of the brain compared to cortical electrodes. However, they utilize a much less invasive process. That process eliminates the need to remove the top portion of the skull.
Both NeuroOne’s Evo Cortical and sEEG electrodes feature hi-definition, thin film electrodes. They potentially increase signal clarity and reduce noise, the company said. The electrodes also offer better tactile feedback during insertion into brain tissue.
NeuroOne believes it has “a significant opportunity to expand market adoption of sEEG technology” through broad U.S. distribution. That’s where Zimmer Biomet comes in.