Neurolign Technologies announced the acquisition of Neuro Kinetics of Pittsburgh, Pennsylvania, a provider of clinical eye-tracking and noninvasive neurofunctional diagnostic testing, delivering neurofunctional assessments.
Terms of the deal were not disclosed.
Neurolign is a privately held diagnostic and pharmaceutical company focused on bringing superior diagnostic solutions and novel therapeutics for the diagnosis and treatment of neurological conditions to physicians and their patients. Neurolign’s founder is Eugene Melnyk, the creator of multiple healthcare companies, including Biovail Corporation (acquired by Bausch Health), and the current owner of the Ottawa Senators Hockey Club. Through this transaction, Neurolign will acquire the assets and operations of Neuro Kinetics, including customer relationships, all products, technologies, related intellectual property, fixed assets, and will assume certain liabilities.
“The acquisition of Neuro Kinetics accelerates Neurolign’s mission to research, develop and provide access to world-class diagnostics and targeted pharmaceutical therapeutics to improve the lives of patients suffering from neurological disorders, initially beginning with concussion,” Eugene Melnyk, Neurolign Chairman and Chief Executive Officer, said in a company news release. “After watching concussed athletes in sport, and its impact on these athletes and their families, there is a need to advance clinicians’ abilities to diagnose and determine when athletes can safely return to playing sports. We will address this through transforming not just diagnosis and treatment of concussion, but also for a wide array of neurological disorders affecting the global community.”
“Traumatic Brain Injury, TBI, is a global public health epidemic and an increasing concern in Military Health,” David Okonkwo, MD, PhD, Professor of Neurosurgery at the University of Pittsburgh and Director, Neurotrauma Clinical Trials Center, said in a the news release. “There is an urgent need for new innovative technologies that bring objective diagnostic data for TBI. This investment in Neuro Kinetics can accelerate the development and commercialization of this novel technology and take the lead in diagnostics across multiple dimensions of brain health.”
Neuro Kinetics is a leader in providing eye-tracking platforms delivering the most precise and data-rich eye-tracking diagnostic solution in the global market to date. With over 90 variables and 14 FDA cleared tests, Neuro Kinetics solutions includes its critical assets, I-PAS and I-Portal. These foundational platforms help clinicians identify more than 200 diseases and medical conditions early, accurately, and cost-effectively. I-Portal’s non-invasive Science to See is enabling Neuro Kinetics to expand its presence in the vestibular market into new areas and applications in traumatic brain injury, concussion, ophthalmology, and neurology.
“We look forward to the next phase of the company’s growth and development and are very excited to be merging with Neurolign,” Howison Schroeder, President and Chief Executive Officer of Neuro Kinetics. Schroeder said in the news release. “The opportunities created by this transaction provides us with the support we need to further advance our planned developments for the assessment of additional neurological diseases.”