The company recently received FDA approval for its wearable device to help with mobility
For people with mobility problems as a result of multiple sclerosis, stroke, cerebral palsy, or other neurological conditions, they often have problems with their gait, meaning they have trouble walking, often resulting in leg dragging. Huh. There may also be an inability to keep up with them. Legs straight, inverted cause all this puts them at high risk of falling.
Psionic, which was founded after CEO Jeremiah Robison’s daughter was diagnosed with CP following the premature birth, has developed a solution to this problem, called the Psionic neural sleeve, which goes over the foot and allows patients to Uses electrical stimulation to help improve His move.
On Wednesday, the company announced a $12.5 million Series A round led by Blurun Ventures, with participation from Caffeinated Capital, EPIC Ventures, Jobsohio Growth Capital Fund and LDV Capital. The funding follows the FDA approval of the Cionic neural sleeve in March.
The nerve sleeve is made of a soft, flexible fabric that is fitted to a person’s foot; Inside the fabric are an array of sensors that allow the device to analyze, predict and enhance a person’s movement through the use of algorithms.
It can read signals sent from the brain to a person’s muscles, meaning it can predict 1/10th of a second before they lift their foot off the ground, leading to better gait and falling risk. gets reduced.
In a long-term home utility study, which included patient-reported results along with kinetic data collected by the Psionic system, there was a 60% reduction in the number of users experiencing moderate to severe pain, And there was a decrease in the number of users experiencing moderate to severe. Anxiety or depression was reduced by 75%. The company is also tracking an average 50% increase in move speed.
“We often say that mobility is the most important measure of health, because it is linked to all aspects of a person’s life – mental, physical, even financial,” Robison said.
“We wanted to understand how the system might affect mobility and overall health over time. We were expecting to see benefits in mobility, and we did. What really surprised us was that reported in the same time frame.” There was a dramatic reduction in pain and anxiety.”
Since getting FDA approval, Psionic has been busy: At the same time it launched, and then sold out, its early adopter program. In May, the company announced the formation of its Scientific Advisory Board, a group of institutes physicians and scientists advising the company as it expands its offering and brings new treatments to market and again, in July. , it announced a partnership with design firm FuseProject, and opened the Explorer Program, its second early adopter program.
The new funding will be used to accelerate research trials and commercialization of additional signals, drive the company’s product pipeline across the spectrum of human mobility, and grow its team in R&D, engineering, operations, marketing and customer service.
Alongside the funding it was also announced that John Malloy, general partner and co-founder of Blurun Ventures, has joined the company’s board of directors.
“John Malloy has an extensive track record of investing in future-oriented companies that leverage technology to transform the human experience, and was the first venture investor in category-redefining companies such as PayPal, Waze and Hello Heart. John’s operations Combining savvy and deep expertise in growing high-growth businesses will be an asset to our team,” said Robison.
In terms of what’s next for Cionic, the company wants to build something bigger than itself: an entire ecosystem of companies that can help solve this problem together.
“We are working on the next great technological front – the marriage of human and machine. By 2050, 20% of the world’s population is projected to have a mobility gap, so we know that solving the mobility crisis is about bigger than just our team.” ,” said Robison.
“That is why we built the Cionic Open Augmentation Platform from the start, creating an ecosystem that enables third parties to build new mobility solutions at software speed and software cost. Our vision is to create a world beyond disability, where All human beings have the opportunity to walk without limits. Bionic fabrics capable of sensing, analyzing and augmenting will make that vision a reality for millions of people.”