Control Bionics’ growth bounces ahead

• Control Bionics progresses, expanding its market reach and product use
• NeuroNode Only sales model launched in US following Medicare reimbursement code
• NeuroStrip gaining traction in sports science, health diagnostics and rehabilitation

Special Report: Assistive technology medical device company Control Bionics has reported strong traction across its core product platforms, with growing international partnerships and increasing clinical validation driving the company’s growth strategy.

Control Bionics (ASX:CBL) has officially launched its NeuroNode Only sales model in the US following recent issuance of US Medicare reimbursement code E2513 under the Healthcare Common Procedure Coding System (HCPCS), locking in a rate of US$4300 (A$6600) per device.

NeuroNode is a wearable, watch-like, wireless non-invasive electromyography (EMG) or spatial sensor device to assist cognitive people with physical disabilities perform everyday functions. Notably, this includes sufferers of cerebral palsy or motor neuron disease.

The company has appointed two new US distribution partners in the augmentative and alternative communication (AAC) market.

Control Bionics noted PRC-Saltillo is a global AAC leader based in the US with roughly 70 US sales reps and significant operations in Canada, Europe and Australia.

Forbes AAC meanwhile is a US AAC provider with 40+ staff across the country.

Control Bionics said discussions were progressing with potential distribution partners for expanding into European markets.

Commercial and clinical momentum builds for NeuroStrip  

Control Bionics said its miniaturised EMG device NeuroStrip was also gaining traction commercially and clinically.

Weighing less than a piece of paper, the wearable NeuroStrip measures physiological data such as unintentional muscle movements and expands the company’s market from disabilities to the sports science, occupational health and rehabilitation sectors.

A new software version has been launched Including user logins and AWS cloud-based data storage, enabling software monetisation as a SaaS product.

The company said its partnership with StrokeLab in Japan – announced in December – was scaling.

All StrokeLab staff have been trained are using NeuroStrip with patients, allowing for data tracking, customer insights and real-time analytics.

The new software version of NeuroStrip is now being used by its exclusive tech partner NeuroBounce, StrokeLab and three US physical therapy and rehabilitation facilities, including hardware trials.

Control Bionics has partnered with a leading Japanese neurologist to launch a 100-patient clinical study on NeuroStrip for stroke rehabilitation, with results expected later this year.

A separate medical study on using NeuroStrip for diagnosing and treating Parkinson’s disease is expected to be published in 2025.

NeuroBounce scoring big in US sports, leaping into Australia 

Diversifying beyond the medical devices market, Control Bionics acquired a 20% stake in US-based Neuro Elite Athletics,  which is the company behind the NeuroBounce program for athletes.

Control Bionics’ partial ownership in Neuro Elite Athletics provides the company with an exclusive licensing arrangement for the NeuroBounce program in Australia and Japan, with Control Bionics receiving 7.5% of all revenue.

Control Bionics said NeuroBounce was showing great results in the US, measurably improving explosive power and vertical leap for elite athletes with NeuroStrip.

One recipient of these results is highly touted young US basketball player JJ Mandaquit from Utah Prep Academy (soon to be playing for University of Washington), who reportedly boosted his vertical leap by six inches (16.5cm) in just three weeks.

The company said contracts were near finalisation with the renowned Utah Prep basketball academy, while two additional deals were in progress.

Exercise scientist and ex-Netball Australia and Australia Institute of Sport high performance coach Brayden Mifsud has been appointed to lead the Australian rollout of NeuroBounce.

Mifsud has completed training with NeuroBounce in the US.

Meanwhile a Melbourne-based Year 11/12 sports education program focused on AFL and basketball, SEDA College, will kick off NeuroBounce in Australia and start training for its first five athletes on May 5.

Control Bionics said active discussions continue with additional potential customers and delivery partners in Australia.

CEO speaks at key summit

Control Bionics CEO Jeremy Steele attended the Impact Investment Summit Asia Pacific 2025 in March speaking on the panel ‘Scaling solutions helping young Australians with disabilities’.

The event provided a platform to discuss how technology-driven innovation can expand access to assistive communication, mobility and rehabilitation solutions for young Australians.

In March Control Bionics announced the appointment of Dr Stephanie Phillips to the board, bringing more than three decades of clinical, academic and leadership experience in anaesthesia and critical care.

The board also announced the resignation of founder Peter Ford.

“Peter’s vision and passion were the driving force behind the creation of Control Bionics,” the company said.

“Inspired by a desire to help unlock the potential of brilliant minds like Stephen Hawking,  Peter’s insight in 1999 – that  damaged muscles still emit usable electrical signals – led to the development of the NeuroNode and the founding of the company.”

Well-funded to further growth

The company said it continues to execute its strategy with a focus on:

• Diversifying revenue streams across communication, rehabilitation, and performance sectors.
• Strengthening its presence in high-potential international markets
• Expanding product usage through strategic clinical partnerships and real-world outcomes.

In February 2025, Control Bionics completed a private placement, raising ~$2 million from two existing shareholders at an issue price of 4.5 cents per share, providing the company with the capital for its continued growth strategy.

This article was developed in collaboration with Control Bionics, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.