MyndTec Announces License Agreement with University of Toronto for Neuroregeneration Technology

Mississauga, Ontario, May 23, 2024 – MyndTec Inc. (“MyndTec” or the “Company”) (CSE: MYTC), a medical technology company focused on neurological treatment, rehabilitation and regeneration, today announced that it has entered into a license agreement with the Governing Council of the University of Toronto (“University of Toronto” or “U of T”) in respect of certain neuroregenerative technology and intellectual property.

License Agreement
Under the terms of the license agreement, the University of Toronto has licensed to MyndTec certain technology and intellectual property covering the use of neurostimulation and cell migration for neural tissue regeneration in the field of brain and spinal cord injuries, and diseases and disorders of the central nervous system, including Parkinson’s disease, Alzheimer’s disease and stroke. As consideration for the license, U of T will receive royalty payments on net sales of products covered by the license and MyndTec will reimburse certain patent related costs. U of T retains the rights to continue to use the licensed technology for research, educational and administrative purposes. Milos Popovic, PhD, director at MyndTec, is one of the inventors of the licensed technology.

Technology Overview
The licensed technology leverages the use of bi-phasic electrical stimulation to target areas of the brain for the migration of endogenous neural progenitor cells (“NPC”) to the site of damaged or diseased cells for the restoration of neural connections as a treatment for neurological disorders and injuries, such as Parkinson’s disease, Alzheimer’s disease and stroke. This form of neurostimulation, like deep brain stimulation, generally involves implanting two electrodes in the brain. One electrode is implanted near the subventricular zone (“SVZ”) of the lateral ventricle (“LV”) where NPCs reside and the other electrode at the site of the damaged tissue and connected to a neurostimulator. Once activated, electrical currents flow between the electrodes into the surrounding tissue, creating an electric field.

Pre-clinical testing of the technology in stroke models has shown that murine NPC survival, migration and differentiation can be modified by an electric field. Biphasic stimulation, which works by alternating the direction of the electrical charge between positive and negative resulting in zero net charge in the tissue, has the potential to allow for greater flexibility in adjusting stimulation parameters and in optimizing therapeutic outcomes while reducing the risk of unintended tissue damage or electrode corrosion generally associated with prolonged unidirectional stimulation.

“We are excited about this partnership with the University of Toronto and the technology, licensed through the Innovations & Partnerships Office, which produces biphasic waveform parameters generally similar to those used in MyndTec’s MyndMove™ technology,” said Craig Leon, CEO of MyndTec. “With our MyndMove technology we are able to demonstrate improvement in post stroke function through rehabilitation, however there remains a need for a treatment to reverse disabilities resulting from stroke and other neurodegenerative diseases as therapies for neurodegenerative disease are limited. We are excited about building on our expertise in neurostimulation and the potential of this neuroregenerative technology.”

About MyndTec
MyndTec is a CSE-listed medical technology company focused on using neurostimulation to restore function and improve treatment for individuals who have suffered from diseases, disorders and damage to the central nervous system, including Parkinson’s disease, Alzheimer’s disease and stroke. The Company has developed the MyndMove™ system, a non-invasive functional electrical stimulation-based intervention, that uses neuroplasticity mechanisms to stimulate the development of new neural pathways allowing patients to re-establish voluntary movement and improve living independence. The company is researching new treatments and uses for neurostimulation and other technologies to improve patient outcomes.

For more information visit the Company’s website

Contact Information
Craig Leon, CEO
MyndTec Inc.
Tel: (905) 919-3144

Bill Mitoulas, Principal
Venture North Capital Inc.
Tel: (416) 479-9547

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