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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
December 11, 2023
NeuroOne Medical Technologies Corporation
(Exact name of registrant as specified in its charter)
Delaware |
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000-40439 |
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27-0863354 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
7599 Anagram Dr., Eden Prairie, MN 55344
(Address of principal executive offices and zip
code)
952-426-1383
(Registrant’s telephone number including
area code)
(Registrant’s former name or former address,
if changed since last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
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☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
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Name of each exchange on which registered |
Common Stock, par value $0.001 per share |
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NMTC |
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The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company ☐
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On December 11, 2023, NeuroOne Medical Technologies
Corporation issued a press release announcing that it has received U.S. Food and Drug Administration 510(k) clearance to market its OneRFTM
Ablation System for creation of radiofrequency lesions in nervous tissue for functional neurosurgical procedures.
A copy of this press release is filed herewith
as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Information contained on or accessible through
any website reference in the press release is not part of, or incorporated by reference in, this Current Report on Form 8-K, and the
inclusion of such website addresses in this Current Report on Form 8-K by incorporation by reference of the press release is as inactive
textual references only.
Item 9.01 Financial Statements and
Exhibits.
(d) Exhibits
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
|
NEUROONE MEDICAL TECHNOLOGIES CORPORATION |
Dated: December 11, 2023 |
|
|
By: |
/s/ David Rosa |
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David Rosa |
|
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Chief Executive Officer |
Exhibit 99.1
NeuroOne® Receives FDA 510(k)
Clearance to Market its OneRF™ Ablation System
First FDA-cleared thin-film, sEEG-guided
RF system capable of both recording electrical activity and ablating nervous tissue with the added benefit of temperature control; Marks
the Company’s third FDA 510(k)-cleared device
Potential for transformative improvement
in neurosurgery procedures; Company targets commercial launch in first half of 2024
EDEN
PRAIRIE, Minn. – December 11, 2023 (GLOBE NEWSWIRE) – NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) (NeuroOne
or the Company), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological
disorders, today announced that it has received U.S. Food and Drug Administration (“FDA”) 510(k) clearance to market its OneRFÔ
Ablation System for creation of radiofrequency (“RF”) lesions in
nervous tissue for functional neurosurgical procedures.
“When NeuroOne was founded, one of our
ambitious goals was to be the first to develop and commercialize thin-film electrodes capable of performing both diagnostic and therapeutic
functions and offer a better methodology to treat patients suffering from a variety of neurological conditions,” said Dave Rosa,
CEO of NeuroOne. “We believe we have the potential to dramatically change the way these surgeries are performed so that patients
may only need to go through surgery once for both diagnostic and therapeutic procedures. This may also reduce hospital stays, number of
surgeries, and adverse events, while offering significant benefits from a clinical perspective. The addition of temperature control at
the point of ablation also may enhance patient safety. Our team’s achievement in reaching this milestone was the culmination of
years of perseverance, and I could not be more excited for our future. We are now preparing for a commercial launch either directly or
through a strategic partner in the first half of calendar 2024.”
Robert E. Gross, MD, PhD, chair of the Department
of Neurosurgery at New Jersey Medical School and Robert Wood Johnson Medical School said “The FDA clearance of NeuroOne’s OneRF system
will provide neurosurgeons with an important new tool in the surgical management of epilepsy, with the ability to provide ablative therapy
using already implanted depth electrodes used for diagnosing the epileptic focus as part of stereoEEG. This may lead to improved outcomes
for patients with potential for fewer interventions, and an improved therapeutic window.”
The OneRF Ablation System is the Company’s
first device with a therapeutic indication and its third FDA 510(k)-cleared device. NeuroOne now boasts a full line of electrode technology
to address patients requiring diagnostic brain mapping procedures as well as RF ablation using the same sEEG electrode. In addition to
the OneRF Ablation System, NeuroOne’s other FDA-cleared devices include the Evo® cortical and sEEG electrode product lines which
are used primarily for recording electrical activity in the brain for less than 30 days.
NeuroOne estimates the current brain ablation
market to be at least $100M worldwide and growing rapidly, with the potential to grow multifold based on large addressable patient populations
with unmet clinical needs.
About NeuroOne
NeuroOne Medical Technologies
Corporation is a developmental stage company committed to providing minimally invasive and hi-definition solutions for EEG recording,
brain stimulation and ablation solutions for patients suffering from epilepsy, Parkinson’s disease, dystonia, essential tremors, chronic
pain due to failed back surgeries and other related neurological disorders that may improve patient outcomes and reduce procedural costs.
The Company may also pursue applications for other areas such as depression, mood disorders, pain, incontinence, high blood pressure,
and artificial intelligence. For more information, visit www.nmtc1.com.
Forward Looking Statements
This press release may include forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Except for statements of historical fact, any information contained in this press release may be a forward–looking
statement that reflects NeuroOne’s current views about future events and are subject to known and unknown risks, uncertainties and
other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information
expressed or implied by these forward-looking statements. In some cases, you can identify forward–looking statements by the words
or phrases “may,” “might,” “will,” “could,” “would,” “should,” “expect,”
“intend,” “plan,” “objective,” “anticipate,” “believe,” “estimate,” “predict,”
“project,” “potential,” “target,” “seek,” “contemplate,” “continue, “focused
on,” “committed to” and “ongoing,” or the negative of these terms, or other comparable terminology intended to
identify statements about the future. Forward–looking statements may include statements regarding the development of the Company’s
electrode technology program, the ability of the OneRF Ablation System to offer a safer option for patients, the timing and extent of
product launch and commercialization of our technology, clinical and pre-clinical testing, what the future may hold for electrical stimulation
and NeuroOne’s potential role, business strategy, market size, potential growth opportunities, future operations, future efficiencies,
and other financial and operating information. Although NeuroOne believes that we have a reasonable basis for each forward-looking statement,
we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the
future, about which we cannot be certain. Our actual future results may be materially different from what we expect due to factors largely
outside our control, including risks that our partnerships may not facilitate the commercialization or market acceptance of our technology;
whether due to supply chain disruptions, labor shortages, risks that our technology will not perform as expected based on results of our
pre-clinical and clinical trials; risks related to uncertainties associated with the Company’s capital requirements to achieve its business
objectives and ability to raise additional funds: the risk that we may not be able to secure or retain coverage or adequate reimbursement
for our technology; uncertainties inherent in the development process of our technology; risks related to changes in regulatory requirements
or decisions of regulatory authorities; that we may not have accurately estimated the size and growth potential of the markets for our
technology; risks relate to clinical trial patient enrollment and the results of clinical trials; that we may be unable to protect our
intellectual property rights; and other risks, uncertainties and assumptions, including those described under the heading “Risk Factors”
in our filings with the Securities and Exchange Commission. These forward–looking statements speak only as of the date of this press
release and NeuroOne undertakes no obligation to revise or update any forward–looking statements for any reason, even if new information
becomes available in the future.
“Caution: Federal law restricts this
device to sale by or on the order of a physician”
Contact:
800-631-4030
ir@nmtc1.com
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