Nexalin Technology Announces New Public Sector Division to Capitalize on Opportunities to Serve U.S. Government Agencies
July 26 2023 - 8:30AM
Nexalin Technology, Inc. (the “Company” or
“Nexalin”)
(Nasdaq: NXL; NXLIW) today announced the
formation of a new division, to be called “Nexalin America,” aimed
at fostering relationships within the U.S. Department of Defense,
U.S. Department of Veterans Affairs, and U.S. Department of Health
and Human Services. Nexalin America will focus on engaging and
collaborating with these U.S. government agencies in order to
enable their personnel to have access to, and benefit from,
Nexalin’s non-invasive, frequency-based, deep-brain stimulation
devices. Nexalin anticipates the U.S. government’s use of its
groundbreaking technology to treat PTSD, traumatic brain injury,
anxiety, depression, insomnia and other targeted indications.
As part of its strategy in forming Nexalin
America, the Company also announced that it has retained industry
and government affairs veteran, Ryan Kane, CEO of RK Strategies,
Inc., to support and lead “Nexalin America.” Mr. Kane brings years
of experience in developing and bolstering U.S. government
partnerships on behalf of clients operating at the intersection of
military, healthcare, and biodefense, including advocating on their
behalf before the Department of Defense, the Department of Health
and Human Services, as well as Congress and the White House.
These efforts have also extended internationally, across Europe,
Israel, the UAE, and South Korea. Previously, Mr. Kane worked for
two U.S. Senators, five Members of the U.S. House of
Representatives, and a Governor, with all of whom he maintains
close relationships.
Mark White, CEO of Nexalin Technology stated,
“We are proud to announce the formation of Nexalin America to
capitalize on the traction we are gaining within the military and
various agencies of the U.S. government. We now have a
growing body of clinical evidence supporting Nexalin's new advanced
15 mAmp waveform and look forward to sharing some of this data at
the upcoming 2023 Military Health System Research Symposium
(“MHSRS”). We believe our innovative technology has an
important role to play in supporting both active military personnel
and veterans, many of whom suffer from mental health illnesses and
the effects of traumatic brain injury. Moreover, we believe
our technology offers an attractive alternative or supplement to
traditional medications, which are often ineffective and may have
significant and undesirable side effects.”
“I am honored to work with Nexalin to help
advance commercialization of the technology and support this
expanded initiative within the government,” commented Mr.
Kane. “I look forward to leveraging my deep relationships and
experience, including the military, healthcare, and veterans
affairs sectors, as we pursue collaborations within the U.S.
government. Nexalin has made tremendous progress over the
past year as evidenced by a growing body of clinical trials that
support the efficacy of the device. We have already
identified a number of opportunities, including potential avenues
for non-dilutive funding. Moreover, we look forward to kicking off
these activities in full force at the upcoming presentation at
MHSRS in August, as part of the public launch of our U.S.
government initiatives.”
About Nexalin Technology, Inc.Nexalin
designs and develops innovative neurostimulation products to
uniquely and effectively help combat the ongoing global mental
health epidemic. All of Nexalin’s products are non-invasive and
undetectable to the human body and were developed to provide relief
to those afflicted with mental health issues. Nexalin utilizes
bioelectronic medical technology to treat mental health issues.
Nexalin believes its non-invasive, frequency-based, deep-brain
stimulation medical devices can penetrate structures deep in the
mid-brain that are associated with mental health disorders. Nexalin
believes the deeper penetrating waveform in its Gen 2 and Gen 3
devices will generate enhanced patient response without any adverse
side effects. The Nexalin device was recently approved in China by
the National Medical Products Administration (NMPA) for the
treatment of insomnia and depression. Additional information about
the Company is available at: https://nexalin.com/.
FORWARD-LOOKING STATEMENTSThis press release
contains statements that constitute "forward-looking statements,"
These statements relate to future events or Nexalin’s future
financial performance. Any statements that refer to expectations,
projections or other characterizations of future events or
circumstances or that are not statements of historical fact
(including without limitation statements to the effect that Nexalin
or its management “believes”, “expects”, “anticipates”, “plans”,
“intends” and similar expressions) should be considered forward
looking statements that involve risks and uncertainties which could
cause actual events or Nexalin’s actual results to differ
materially from those indicated by the forward-looking
statements. Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Company's Report on Form 10-K for the year ended December 31,
2022 and other filings as filed with the Securities and Exchange
Commission. Copies of such filings are available on the SEC's
website, www.sec.gov. Such forward-looking statements are made as
of the date hereof and may become outdated over time. Such
forward-looking statements are made as of the date hereof and may
become outdated over time. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
Contact:Crescendo Communications, LLCTel: (212)
671-1020Email: NXL@crescendo-ir.com
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