Helius Medical rises on distribution deal for nerve modulation device

Solana Co

22/03/2023 12:59

** Shares of Helius Medical Technologies Inc  HSDT.O  rise
7% to $0.25 premarket
    ** Co says it has entered into exclusive distribution
agreement with Canada's HealthTech Connex for its non-implanted
nerve modulation device    
    ** Deal makes the privately held HealthTech Connex a
exclusive provider of the device, Portable Neuromodulation
Stimulator (PoNS), in the Vancouver and Fraser Valley regions of
British Columbia - HSDT
    ** The initial term of the deal is five years and is
extendable up to ten years 
    ** PoNS is authorized in Canada for use as a short-term
treatment for chronic balance and gait deficit due to
mild-to-moderate traumatic brain injury and multiple sclerosis -
HSDT  
    ** As of last close, stock was down ~93% in the past 12
months

 (Reporting by Mariam Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))