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LONDON (Alliance News) - Frontier IP Group PLC on Tuesday said it has made progress toward incorporating a new company, Insignals Neurotech, in which Frontier IP will hold a 33% stake.
Frontier specialises in the commercialisation of intellectual property and Insignals will be its third Portuguese spin-out. Insignals is "developing patented technology to aid deep brain stimulation surgery".
In deep brain stimulation, electrodes are implanted in the brain and a pulse generator is implanted near the chest. The pulse generator then delivers high frequency stimulation to the brain, changing the brain's electrical signals.
Insignals is developing wearable wireless devices that allow surgeons to more-accurately place brain implants.
Deep brain stimulation reduces muscle rigidity and is most commonly used to treat Parkinson's disease. The first Insignals device is aimed at treating this disease and has already undergone two clinical studies.
Deep brain stimulation is also used to treat other conditions, such as epilepsy, and Insignals is also looking to develop devices to assist in treating these.
"We're delighted to welcome Insignals to the Frontier IP family. The company's technology has the potential to improve the accuracy of where to place an implant and relieve the symptoms of Parkinson's disease and other neural conditions. The spin out provides further evidence that we are now gaining serious traction in Portugal, a country with a lot of exciting IP and few companies providing commercialisation services," said Frontier IP Chief Executive Neil Crabb.
Shares in Frontier IP were up 2.3% at 88.50 pence on Tuesday.