Newtown, Pa.-based Helius said it plans to use the proceeds from the 6.6-million-share flotation to complete a trial of the PoNS therapy in treating mild to moderate brain injury and the launch of a new trial in multiple sclerosis and another in cognition. The proceeds are also earmarked for R&D to complete an FDA submission, the company said.
Last year Helius closed an $8.1 million round. Last week, the company touted results from a pilot study in MS showing that patients treated with the PoNS device showed significant improvement in sensory organization tests, with functional-MRI scans showing significant blood oxygen level-dependent signal changes in the left primary motor cortex.
($1 = C$1.30514)