MYnd Analytics Awarded Canadian Patent on Neuromodulation Platform; Predicts Patients Likely to Respond to TMS for Treating Depression
MISSION VIEJO, Calif., Feb. 08, 2018 (GLOBE NEWSWIRE) -- MYnd Analytics, Inc. (NASDAQ:MYND), the market leader in improving the delivery of mental health through the combination of telemedicine and data analytics/augmented intelligence, today announced it has received its first notice of patent allowance in Canada on the Company’s neuromodulation platform for predicting patients likely to respond to Transcranial Magnetic Stimulation (TMS).
The patent is entitled “Method for Assessing the Susceptibility of a Human Individual Suffering from a Psychiatric or Neurological Disorder to Neuromodulation Treatment,” and provides patent protection through 2029. The Company has also applied for patents in the United States, which it expects will be awarded later this year.
TMS is a non-invasive outpatient procedure that uses magnetic fields to stimulate areas of the brain thought to control mood. TMS is approved by the U.S. Food and Drug Administration as well as Health Canada, and is offered by psychiatrists throughout North America. TMS is used as an alternative treatment for patients who have failed one or more antidepressants for the treatment of depression.
TMS responsivity data, which utilizes MYnd’s PEER online technology to analyze an individual's digital Quantitative EEG (“QEEG”), helps physicians learn how patients with similar EEG patterns responded to TMS, thereby enabling them to more effectively guide patients most likely to benefit from this treatment and reduce expenditures on patients for whom TMS is not likely to be an effective solution for their depression.
George Carpenter, CEO of MYnd Analytics, stated, “We have built the world’s largest brain database of clinical outcomes referenced to neurophysiology, and are pleased to receive this important patent for our neuromodulation platform. This patent comes on the heels of our recent commercial launch of this technology in both the United States and Canada. Importantly, our technology holds the promise of helping countless patients suffering depression, by focusing TMS treatment plans on those patients most likely to respond well to the treatment. Through our PEER online technology, which allows us to analyze an individual's digital Quantitative EEG, once again we are demonstrating our ability to reduce healthcare costs and, more importantly, improve outcomes for patients.”
About MYnd Analytics
MYnd Analytics, Inc. (www.myndanalytics.com) is a predictive analytics company that has developed a decision support tool to help physicians reduce trial and error treatment in mental health and provide more personalized care to patients. The Company’s Psychiatric EEG Evaluation Registry, or PEER Online, is a registry and reporting platform that allows medical professionals to exchange treatment outcome data for patients referenced to objective neurophysiology data obtained through a standard electroencephalogram (EEG). Based on the Company’s original physician-developed database, there are now more than 38,000 outcomes for over 10,000 unique patients in the PEER registry. The goal of PEER Online is to provide objective, personalized data to assist physicians in the selection of appropriate medications.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements involve risks and uncertainties, such as MYnd's ability to successfully expand into various market channels, the ability of its products to successfully target objectivity and increased efficiency in the treatment of depression and other mental health and psychiatric illnesses and MYnd's ability to expand globally in areas where there is an opportunity to improve treatment in mental health, to continue to protect and enforce its patents, as well as those risks and uncertainties set forth in MYnd's filings with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made herein.
To read more about the benefits of this patented technology for patients, physicians and payers, please visit: www.myndanalytics.com.
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Released February 8, 2018