Newtown, PA / October 28, 2015 – Helius Medical Technologies, Inc. (HSM:CNX) (HSDT) (“Helius” or “the Company”), a medical technology company focused on the treatment of neurological symptoms caused by disease or trauma, is pleased to announce that it has appointed Dr. Brian Bapty as Vice President, Strategy and Business Development. Dr. Bapty received his Ph.D. in Experimental Medicine and his B.Sc. in Cell and Developmental Biology from the University of British Columbia. His extensive experience in capital markets and prior work with institutional investors will be invaluable as Helius continues to attract investor interest and build shareholder value with the development of its patented technology that is believed will enable the first non-invasive means for delivering neurostimulation through the oral cavity (the “PoNS™”).
The Company also announced that it has granted incentive stock options, exercisable to purchase up to an aggregate of 950,000 shares of the Company, to consultants and officers of Helius. All options are subject to any earlier termination in accordance with their terms. The options are exercisable at a price of CAD $0.84. 614,000 options vest immediately, and the remaining 336,000 options vest at a rate of 14% every 6 months.
About the PoNS™
The Portable Neuromodulation Stimulator (PoNS™) device is an investigational medical device being studied for the treatment of neurological symptoms caused by disease or trauma. The PoNSTM is currently being studied in the United States and Canada for the treatment of balance disorder for subjects with mild to moderate Traumatic Brain Injury (mTBI), and in Canada for the treatment of gait and balance disorder for subjects with Multiple Sclerosis (MS).
The PoNSTM device is a non-invasive means for delivering neurostimulation through the tongue. Researchers believe that use of the tongue as a gateway to the brain may be one of the most natural, non-invasive and direct ways to stimulate the brain. The tongue is anatomically unique, being richly innervated by thousands of nerve fibers and interconnected to the brainstem by two major cranial nerves.
About Helius Medical Technologies (HMT)
Helius Medical Technologies is a medical technology company focused on neurological wellness. HMT seeks to develop, license and acquire unique and non-invasive platform technologies that amplify the brain’s ability to heal itself. HMT intends to file for U.S. Food and Drug Administration clearance for the PoNS™ device. For more information, please visit www.heliusmedical.com. The contents of this website are not, and should not be deemed to be, incorporated by reference herein.
Cautionary Disclaimer Statement:
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
This news release contains forward-looking statements relating to the commercialization of the PoNSTM technology and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the Canadian Securities Exchange, the success of the Company’s business plan, availability of funds, government regulations, operating costs, the Company’s ability to achieve revenues and other risks detailed from time to time in the filings made by the Company with securities regulators.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company undertakes no obligation to update or revise publicly this news release to reflect events or circumstances after the date hereof, except as required by applicable law.
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