Third Portuguese spin out: Insignals Neurotech
12 February 2019
Frontier IP Group Plc
("Frontier IP" or the "Group")
Portfolio news - third Portuguese spin out to tackle Parkinson's disease and other neural conditions with patented wearable devices
Frontier IP, a specialist in commercialising university intellectual property ("IP"), today announces strong progress in Portugal with the incorporation of a new company which will be called Insignals Neurotech ("Insignals" or "the Company"). Insignals is developing patented technology to aid deep brain stimulation surgery on patients suffering Parkinson's disease, epilepsy and other neural conditions.
Frontier IP will hold a 33 per cent. stake in the Company. It is the Group's third spin out in Portugal, where it aims to be a leader in university IP commercialisation.
Insignals, a spin out from the Portuguese Institute for Systems and Computer Engineering, Technology and Science ("INESC TEC") with the support of São João University Hospital, part of the University of Porto, is developing wireless wearable devices to precisely measure wrist rigidity to help surgeons place brain implants more accurately.
The first product is aimed at Parkinson's disease, and has already undergone two clinical studies. Increased muscle rigidity is one of the key symptoms of the disease and is often treated by implanting deep brain stimulation electrodes when drugs no longer have an effect. Insignals' devices could help place the implants more accurately.
Doctors evaluate wrist rigidity during surgery to decide the optimum position for the implant. Currently this is done by two trained surgeons making a judgement by manually manipulating the wrist. This means evaluation can be biased by the physicians' experience and perception.
Other systems designed to provide objective and quantitative evaluation are complicated to set up and are impractical for use during surgical procedures. Insignals' device is easy to set up and use.
Potential applications include helping pharmaceutical companies monitor or assess the impact of new or approved drugs in rigidity reduction during clinical trials.
The Company has already received interest from potential industry partners and is looking to enter into collaboration agreements to extend clinical trials in Portugal, the UK and Germany.
Insignals was established to commercialise the work of João Paulo Cunha, Associate Professor with Agregação at the Department of Electrical and Computer Engineering at the Faculty of Engineering of the University of Porto and senior researcher at the INESC TEC Institute for Systems and Computer Engineering. There, he created the Biomedical Research And INnovation (BRAIN) research group and co-founded the Centre for Biomedical Engineering Research.
Insignals Neurotech co-Founder João Paulo Cunha, PhD said: "The creation of the Insignals Neurotech startup with our partners from Frontier IP will provide a strong innovation vehicle to consolidate the neuro-technology we've been developing for several years at INESC TEC and University of Porto (Engineering Faculty and S. João University Hospital) and take it a step further to the international market."
Frontier IP Chief Executive Officer Neil Crabb said: "We're delighted to welcome Insignals to the Frontier IP family. The Company's technology has the potential to improve the accuracy of where to place an implant and relieve the symptoms of Parkinson's disease and other neural conditions. The spin out provides further evidence that we are now gaining serious traction in Portugal, a country with a lot of exciting IP and few companies providing commercialisation services."
ENQUIRIES
|
Frontier IP Group Plc |
T: 0131 240 1251 |
|
Neil Crabb, Chief Executive Andrew Johnson, Communications & Investor Relations Company website: www.frontierip.co.uk |
M: 07464 546 025 |
|
Allenby Capital Limited (Nominated Adviser and Broker) |
T: 0203 328 5656 |
|
Nick Athanas / Nicholas Chambers (Corporate Finance) Amrit Nahal (Equity Sales) |
|
ABout frontier IP
Frontier IP unites science and commerce by identifying strong intellectual property and accelerating its development through a range of hands-on commercialisation services. A critical part of the Group's work is involving relevant industry partners at an early stage of development to ensure technology is validated and meets real world demands and needs.
The Group looks to build and grow a portfolio of equity stakes and licence income by taking an active involvement in spin-out companies, including support for fund raising and collaboration with relevant industry partners at an early stage of development.
ABOUT INESC TEC
INESC TEC is a research institution with more than 30 years of experience in R&D and technology transfer in Computer Science, Industry and Innovation, Networked Intelligent Systems, and Power and Energy. With 350 doctorates among 700 researchers, INESC TEC aggregates 13 centres with complementary competences that are focused on the international market and has a patent portfolio of 23 patent families in ICT and medical technologies.
The institution drives the research results to their valorisation and adoption through technology transfer processes, from licensing to collaborative development, advanced consulting and training or spin-off launching.
About RNS Reach announcements
This is an RNS Reach announcement. RNS Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only / non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on RNS Reach.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
Latest directors dealings
- 8 hours ago Johnson Matthey
- 9 hours ago Galliford Try
- 9 hours ago Galliford Try
- 9 hours ago Centrica
- 10 hours ago Smith & Nephew