Helius Medical launches AI-driven BCI subsidiary

NEWTOWN, Pa. - Helius Medical Technologies, Inc. (NASDAQ:HSDT), a neurotech company known for its therapeutic neuromodulation technology, announced the creation of its private subsidiary, Revelation Neuro, Inc., dedicated to developing non-implantable AI-powered brain-computer interface (BCI) technology. The new entity aims to enhance neurorehabilitation for patients with balance and gait deficits. According to InvestingPro data, while Helius maintains more cash than debt on its balance sheet with a healthy current ratio of 3.61, the company is rapidly burning through its cash reserves.

The President and CEO of Helius, Dane Andreeff, expressed enthusiasm for the potential of Revelation Neuro’s BCI technology to become a new standard in personalized neurorehabilitation. The technology is expected to leverage Helius’s existing intellectual property and data, including clinical evidence from over 400 subjects, to optimize algorithms for individualized therapy.

Revelation Neuro’s initial focus will be on improving functional rehabilitation outcomes, with future aspirations to address cognitive deficits and mood disorders. The subsidiary will be financed through external third-party sources, as Helius does not plan to invest significant additional capital.

Additionally, Helius is set to present at the 37th Annual ROTH Conference on Monday, March 17, 2025, in Dana Point, California. The presentation by Helius executives will be available via webcast on the company’s investor relations website.

Helius Medical Technologies has made strides in the medical device field with its Portable Neuromodulation Stimulator (PoNS®), which aims to improve neurological function through non-invasive oral stimulation.

This news is based on a press release statement and includes forward-looking statements that involve known and unknown risks and uncertainties. The company’s actual results could differ materially from those projected in the forward-looking statements due to various factors, including the availability of funding for Revelation Neuro and the regulatory approval process.

In other recent news, Helius Medical Technologies has reported significant developments across several areas. The company is facing potential delisting from The Nasdaq Capital Market due to non-compliance with the Minimum Bid Price Requirement, having received a notification from Nasdaq on February 7, 2025. Helius plans to appeal this decision, which will delay any delisting actions. Meanwhile, Helius announced promising findings from the PoNS Therapeutic Experience Program study, showing long-term effects of their therapy on gait improvement in Multiple Sclerosis patients. The study highlighted the importance of adherence to therapy, with higher adherence resulting in better outcomes.

Additionally, Helius has exceeded its enrollment goals for a stroke registrational program, with 128 participants randomized by the end of December 2024, surpassing the original target of 90. The company aims to reach full enrollment by the end of January 2025 and plans to submit for FDA authorization in the second quarter of 2025. Furthermore, Helius has secured final Medicare payment rates for its PoNS device, as published by the Centers for Medicare and Medicaid Services. This decision is expected to enhance the device’s commercial viability and expand access for Medicare beneficiaries. These developments are part of Helius’s ongoing efforts to advance their neuromodulation technology and improve patient care.

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