Neurostim tech developer Helius Medical prices $18M offering

The PoNS (portable neuromodulation stimulator) [Image courtesy of Helius Medical]Helius Medical Technologies (Nasdaq:HSDT) announced today that it priced a public offering of common stock worth $18 million.

Newtown, Pennsylvania-based Helius, which develops the PoNS (portable neuromodulation stimulator), is offering 24 million shares of Class A common stock and warrants to purchase up to 36 million shares of Class A common stock at a purchase price of 75¢ per share.

The public warrants in the offering will have an exercise price of 75¢ per share and are exercisable upon issuance with expiration after five years following the date of issuance.

Helius expects the offering to close on or about Aug. 9, subject to customary closing conditions. Roth Capital Partners, LLC is acting as lead placement agent, and Maxim Group LLC is acting as co-placement agent of the offering.

The company said in a news release that the $18 million in gross proceeds is earmark…

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Helius Medical wins FDA nod for tongue stimulator that improves MS patients’ gait

The FDA announced today that it authorized marketing for a stimulator device that treats gait deficit in those with multiple sclerosis (MS).

Helius Medical’s portable neuromodulation stimulator (PoNS) is a neuromuscular tongue stimulator that uses a non-implantable apparatus to generate electrical pulses for stimulation of the trigeminal and facial nerves via the tongue to treat motor deficits, according to an FDA release.

PoNS is intended for prescription-only use as an adjunct to a supervised therapeutic exercise program in patients 22 years of age and older. It is a short-term treatment for gait deficit as a result of mild to moderate symptoms from MS.

The portable, non-implantable device includes a controller and a mouthpiece connected by a cord. The mouthpiece is held lightly in place by the lips and the control unit is worn around the neck during a patient’s visit with a therapist.

Signals are sent from the controller to the mout…

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