MyndTec is a medical technology company (established 2008, based in Mississauga) that developed the MyndMove, a non-invasive device delivering proprietary functional electrical stimulation sequences to restore voluntary arm and hand movement in people with paralysis from stroke, SCI or TBI. The therapy is delivered by an occupational or physiotherapist and is designed to promote new neural pathway development by activating non-damaged brain or CNS areas to substitute for damaged pathways. The technology originated from work by Dr. Milos Popovic and colleagues at the Toronto Rehabilitation Institute and the University of Toronto. MyndMove is intended for commercialization and regulatory approval in Canada, the United States and Europe. The company and therapy are positioned to improve patients' ability to perform activities of daily living and to reduce the long-term care costs associated with paralysis (the article cites an estimated $38.1 billion per year cost for long-term care in Canada and the U.S.). Through commercialization activities the company expected to create up to 17 full-time jobs during the project and an additional 33 jobs in the Mississauga area by 2015.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Jun 2013