NeuroNode is a wearable device which captures the brain signals being sent to skeletal muscles and transfers this input to a personal computer to enable speech and other functions, and through the agreement with Smart Box, it will now be made available to people with Motor Neurone Disease (MND), cerebral palsy and related conditions.

The contract will be for an initial term of two years, and will see Smart Box UK become exclusive distributor for the wireless product (and its Controller App).

Control Bionics CEO Jeremy Steele said the company was thrilled to see NeuroNode make it to the UK and Irish markets.

“This exclusive agreement marks an exciting step in our mission to empower people with severe disabilities to communicate and regain control of their lives through innovative technology,” he said.

“The NeuroNode has already been paired with hundreds of Smart Box devices and devices with Smart Box software around the world.

“We’re excited to extend this successful relationship to the UK and Ireland for the first time and look forward to building on this strong foundation to enhance the lives of users across these countries.”

“By leveraging Smart Box’s expertise and established network, we are confident that this partnership will accelerate the adoption of NeuroNode® across the UK and Ireland and improve the quality of life for countless individuals with speech and motorimpairments.”

The market seemed pleased with the news, and by 12:05 AEST, Control Bionics shares were trading at 9 cents – a rise of 3.45% since the market opened.

Results of the two clinical tests – which were run in collaboration with St Vincent’s Institute of Medical Research and the University of Notre Dame in Fremantle – showed that if AI and clinical evaluation were combined, they could raise diagnostic accuracy to 97% among high-risk individuals.

This achievement is a crucial step for Echo IQ, which will be using these results for its FDA application to get its AI solution recognised as a diagnostic tool in the detection of heart failure.

Further underpinning the importance of these clinical tests was the presentation of their results at the European Society of Cardiology (ESC) Congress 2024 – the world’s largest and most renowned cardoliology congress.

Echo IQ’s Chief Medical Advisor Professor David Playford said the study results were a further step in confirming the viability of using AI in this context.

“The findings are compelling and illustrate the capacity of Echo IQ’s AI-backed technology to enhance the diagnostic skills of doctors,” he said.

“As a cardiologist, I am focused on improving the lives of my patients, and look forward to the opportunity to enhance my clinical skills with the use of AI solutions such as this.

“Heart failure is a major global health priority, and widespread application of Echo IQ’s heart failure AI has the potential to improve countless lives by improving the detection rates of heart failure.”

Shares in Echo IQ were trading at 16.7 cents at 12:26 AEST – a rise of 11.67% since the market opened.

Our webinar explores what it takes for ASX-listed companies to get new health care developments – whether that be drugs, apps or other technologies – through the complexities of Australia’s Therapeutic Goods Association approvals process.

The TGA sits under the Federal Department of Health, and regulates the safety, efficacy and quality of everything from sunscreens to vitamin supplements, prescription medicines and medical devices. America’s big brother to the TGA is the US Food and Drug Administration. Some companies target the FDA first – looking to tap into a bigger market from the start.

Our webinar guests are:

We also feature insights from Bioshares editor, Mark Pachacz.

Bioshares is an online investor resource delivering research notes specific to Health Care sector companies. Bioshares also has a Biotech Summit which will be held in Fremantle, July 12-13.

While the TGA did not respond to our invitations to join the webinar panel, you can also look at our special report on the topic – which can be downloaded free from The Market Online here. The report is titled: What it takes to get a new drug to market in Australia – Demystifying the clinical trials and approvals process.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.