MaRS EXCITE to help bring innovative stroke recovery device to market
TORONTO, October 7, 2014 – MyndMove, a breakthrough medical therapy that significantly improves recovery of voluntary movement in patients with arm and hand paralysis following stroke or spinal cord injury (SCI), will be accessible to more Ontarians with the assistance of a unique program at MaRS Discovery District.
The MaRS Excellence in Clinical Innovation and Technology Evaluation (EXCITE) initiative has announced MyndTec Inc.—makers of the MyndMove functional electrical stimulation device and therapy—as its newest participant.
MyndMove, now licensed for use in Canada, is a non-invasive medical device that uses short, low-energy electrical pulses to induce muscle contractions according to proprietary protocols. During treatment, a therapist works with the patient to practice movements involved in normal activities of daily living, such as feeding or dressing oneself. As the patient attempts and envisions a movement, the therapist triggers the MyndMove device, which sends electrical stimulation to the muscles involved, causing them to contract. Based on the concept of neuroplasticity, new pathways for the intended movement will be established over the course of treatment.
According to the Heart and Stroke Foundation, 300,000 Canadians are living with the effects of stroke and the majority of stroke survivors experience impairment of arm and hand function, which in turn impacts their independence.
“MyndMove therapy offers stroke patients or individuals with spinal cord injury the opportunity to improve function in their upper limbs, increasing their independence and enhancing their quality of life. Through EXCITE, we will be positioned to capture the economic benefits associated with improved function and demonstrate that MyndMove produces significant cost savings for the patient and the health system,” says Diana Pliura, CEO of MyndTec.
MyndMove is the fourth technology now being evaluated through the EXCITE program. EXCITE helps companies accelerate the adoption and reimbursement of innovative health technologies through an evidence-based process. At the end of the program, MyndTec will have the data and evidence needed to drive adoption by clinicians and demonstrate the economic value of the MyndMove Therapy to reimbursement bodies.
The Programs for Assessment of Technologies in Health (PATH) Research Institute will co-ordinate a multicentre randomized clinical trial on the MyndMove Therapy for stroke patients and will lead the economic analysis to show its cost-effectiveness.
“We believe MyndMove is an extremely significant innovation. It meets a pressing need to increase patients’ potential for recovery from stroke, which presents a massive challenge to our healthcare system,” says Zayna Khayat, Director of MaRS EXCITE. “In bringing this therapy into EXCITE, we believe we can help accelerate market adoption and thus alleviate the burden on both patients and healthcare providers.”
A world first, MaRS’ Excellence in Clinical Innovation and Technology Evaluation (EXCITE) is an evaluation platform that accelerates the adoption of breakthrough medical technologies by prioritizing only the best, most cost-effective technologies and helping them obtain the evidence they need for federal licensing and provincial health system adoption.
EXCITE helps these technologies navigate the system and get to market—and to patients—faster by providing:
- An early indication of fit with the healthcare system;
- Evidence in time to make technology improvements; and
- Harmonized studies that support licensing and adoption decisions.
EXCITE is made possible through province-wide collaboration and leadership. Key stakeholders comprising EXCITE’s Management Board include research hospitals (CAHO), the provincial government (MOHLTC, MRI/MEDTE), industry (MEDEC and HTX), the health system (OHTAC) and MaRS.
About MaRS Discovery District
MaRS Discovery District (@MaRSDD) in Toronto is one of the world’s largest urban innovation hubs. MaRS cultivates high-impact ventures and equips innovators to drive economic and social prosperity. MaRS provides expert advice and market research, and makes connections to talent, customers and capital. MaRS startup clients have created 6,500 jobs and, in the last three years alone, they have raised $1 billion in capital and earned $500 million in revenue.
MyndTec Inc. (formerly Simple Systems Inc.) is a privately held medical technology company located in Mississauga, Ontario, that develops and commercializes innovative medical devices designed to improve function, maximize independence and enhance quality of life. For more information on MyndTec and MyndMove™ and authorized indications, please visit www.myndtec.com.
Diana Pliura, CEO
Lily Lo, Associate