MENLO PARK, Calif. and NEWARK, Calif. and CALGARY, Alberta and EDMONTON, Alberta, May 12, 2020 /CNW/ -- Silicon Valley and Calgary based precision medicine technology pioneer PROTXX today announced new product development and pilot deployment collaborations and supporting investments focused on integrated diagnostic/therapeutic applications of the PROTXX precision healthcare platform.
The PROTXX precision healthcare platform integrates wearable sensor and machine learning innovations to replace bulky and expensive clinical equipment and time-consuming testing procedures for a variety of neurodegenerative medical conditions in which patients suffer from impairments to multiple physiological systems. PROTXX solves the difficult problem of identifying and quantifying these multiple different impairments, disrupting diagnosis and treatment with easy-to-use low-cost precision patient assessments.
In collaboration with researchers at the University of Calgary Human Performance Lab (UCHPL), PROTXX has recently demonstrated the ability to integrate both diagnostic and therapeutic functions into PROTXX wearable devices in order to enhance the management of neurodegenerative medical conditions. The newly announced collaborations and investments will drive product prototyping of the integrated device with Newark, CA based Triple Ring Technologies (TRT) and pilot testing at UCHPL. TRT's Venture Studio and Edmonton-based Brass Dome Ventures are both supporting the collaboration as new PROTXX investors. Investment terms were not disclosed.
In addition to the new investments, PROTXX and the UCHPL-based Integrative Sensorimotor Neuroscience Laboratory directed by Dr. Ryan Peters have been awarded a Mitacs Accelerate grant to support graduate student researchers participating in the project in 2020-2021. Dr. Peters is also a member of the Wearable Technology Research and Collaboration (We-TRAC) training program, a core group of UCHPL professors and graduate students focused on re-shaping the wearable technology landscape across industry and academia and fostering the next generation of wearable technology experts.
PROTXX CEO and Founder, John Ralston, stated: "We are excited to announce these new collaborations and supporting investments. UCHPL's world-class research in human neuro - musculo - skeletal health, combined with TRTs proven co-development model for the launch of breakthrough medtech products and Brass Dome's extensive network of international medical devices experts, will enhance and accelerate our ability to commercialize innovative new precision healthcare tools that improve the diagnoses and treatment of medical conditions affecting global patient populations numbering in the billions."
Dr. Ryan Peters from UCHPL commented: "This new collaboration with PROTXX will leverage years of lab-based research to provide users and their care providers with powerful new wearable device tools for diagnosing and treating age-, disease-, and injury-related balance impairments. We look forward to our collaboration with PROTXX, and together we hope to make a significant positive impact on the cost, efficiency, and quality of healthcare internationally."
We-TRAC Primary Investigator, Dr. Reed Ferber, added: "We-TRAC is extremely proud to work closely with Dr. Peters and PROTXX, supporting world-class innovations in wearable devices and data driven healthcare platforms."
"Triple Ring is delighted to be working together with the PROTXX team on further development of their cutting-edge diagnostic/therapeutic sensor platform," said Jeff Sirek, Commercial GM. "The multifunctional capabilities, ease-of-use, and low cost will enable widespread healthcare applications. We look forward to combining our technical expertise with PROTXX's core technology in order to bring this breakthrough technology to patients worldwide."
"Brass Dome Ventures Ltd. are pleased to announce our collaboration with PROTXX to advance their application of wearable devices for the management of neurodegenerative medical conditions," added Christopher Micetich, President and CEO, Brass Dome Ventures Ltd. "PROTXX has developed a unique healthcare platform and novel product architecture for the integration of diagnostic/therapeutic capabilities, and their strategic partnerships with healthcare experts to address this significant unmet clinical need position PROTXX as an industry pioneer."
About PROTXX, Inc. (http://protxx.com/)
PROTXX develops clinical grade wearable sensors that enable rapid non-invasive classification and quantification of neurological, sensory, and musculoskeletal impairments due to fatigue, injury, and disease. The company's large proprietary data sets have been used to develop and train machine learning models that can automate analytical tasks such as classifying specific medical conditions based upon their unique impairment signatures. PROTXX customers and partners in Canada, the U.S., the U.K., and Japan are helping healthcare payers rein in costs, providers improve quality of care, and consumers gain greater access to higher quality care and improved outcomes. PROTXX innovations have been recognized with numerous industrial, academic, and government awards from healthcare, medical engineering, wearable technology, data analytics, professional sports, defense, and state and local government organizations.
About University of Calgary HPL, We-TRAC
Founded in 1981, the Human Performance Laboratory (HPL) at the University of Calgary is a multidisciplinary research centre whose primary objective is to be the leader in both basic and applied research relating to human neuro - musculo - skeletal health and well-being, from birth to advanced age. Home to over 200 academic, adjunct and visiting professors; postdoc scholars, research associates, and research assistants; and PhD, MSc and visiting students, HPL provides state-of-the-art facilities and custom-made equipment to conduct research in anatomy, biology, biomechanics, motor control, and physiology. With support from the Natural Sciences and Engineering Research Council of Canada, the University of Calgary Wearable Technology Research and Collaboration (We-TRAC) training program offers graduate-level training in biomechanics and human physiology, data science, machine learning, and entrepreneurship to foster the next generation of wearable technology experts.
About Mitacs (https://www.mitacs.ca/en)
Mitacs is a key link between industry and post-secondary institutions, driving collaborations at home and abroad to develop projects which solve business challenges and develop Canada's innovation capacity. Mitacs is passionate about developing the next generation of researchers helping to fuel Canada's knowledge-based economy.
About Triple Ring Technologies (https://www.tripleringtech.com/)
Triple Ring Technologies is a co-development company, partnering with clients, primarily in medtech and life sciences, to create new technologies, launch innovative projects, and start new ventures. Their capabilities span strategic investment, incubation, early R&D, product development, manufacturing, regulatory approval, and market access. Triple Ring has personnel nationwide, including offices in Silicon Valley & Boston.
About Brass Dome Ventures Ltd. (https://www.brassdomeventures.com/)
With a team-combined one hundred plus years of successful life science industry experience, Edmonton-based Brass Dome Ventures collaborates with and empowers visionary leaders and innovative companies in the planning and execution of their goals and objectives, with a particular focus on those targeting broader benefits to mankind.
John Ralston, President & CEO, PROTXX Inc.
email: [email protected]
SOURCE PROTXX, Inc.