Control Bionics inks UK and Ireland distribution deal for NeuroNode

Control Bionics enters exclusive distribution deal with Smart Box Ltd for sale of NeuroNode into UK and Ireland
Smart Box will obtain access to Smart Box’s established network of healthcare professionals and end-users in region
Deal part of Control Bionics’ strategy to grow its NeuroNode Only business

Special Report: Control Bionics has inked an exclusive distribution agreement with Smart Box Ltd, a leading provider of assistive technology in the UK, for the sale of its innovative NeuroNode device into the UK and Ireland.

Control Bionics (ASX:CBL) said the strategic partnership enables the company to expand the availability of its NeuroNode technology to individuals with conditions such as Motor Neurone Disease (MND), cerebral palsy, and other neurological disorders that impair communication and motor function.

CBL’s trademarked NeuroNode provides non-invasive, electromyographic (EMG) mediated computer access, communication, and environmental control capabilities for people with conditions such as amyotrophic lateral sclerosis/motor neurone disease (ALS/MND), cerebral palsy, spinal muscular atrophy, and certain traumatic brain injuries.

By detecting the body’s EMG signals or 3D spatial movements, CBL said NeuroNode empowered users to send coherent, unambiguous commands to their alternative communication (AAC) devices.

CBL recently announced NeuroNode had been approved as a reimbursable medical device in the US under a new coding system by the Centers for Medicare and Medicaid Services (CMS).

Under the initial two-year deal NeuroNode will be exclusively distributed by Smart Box in the UK and Ireland.

CBL will obtain access to Smart Box’s established network of healthcare professionals and end-users, which it said would strengthen its presence in the European market.

Smart Box’s minimum order quantities are 10 units, with the pricing set out in the distribution agreement and 30 days payment terms. Either party may terminate the agreement by giving six months’ notice.

Strategy to grow NeuroNode Only business

CBL said while the commercial terms of the agreement remain confidential, it was a clear demonstration of Control Bionics’ previously disclosed strategy to rapidly grow its NeuroNode Only business.

The company said that in the UK and Ireland more than 1,200 people are diagnosed with MND each year, and up to 2,000 are diagnosed with cerebral palsy annually in Ireland and the UK.

“These two conditions typically make up about 50% of Control Bionics’ customer base in Australia and the US,” CBL said.

“The European market is a well-established and well-funded market for assistive technology, and the business is confident that this is the first of a number of agreements Control Bionics expects to sign for distribution of the NeuroNode into Europe.”

CEO Jeremy Steele said the partnership with Smart Box to bring NeuroNode to the UK and Irish market marked an exciting step in its mission to empower people with severe disabilities to communicate and regain control of their lives through innovative technology.

“The NeuroNode has already been paired with hundreds of Smart Box devices and devices with Smart Box software around the world,” he said.

“We’re excited to extend this successful relationship to the UK and Ireland for the first time and look forward to building on this strong foundation to enhance the lives of users across these countries.”

“By leveraging Smart Box’s expertise and established network, we are confident that this partnership will accelerate the adoption of NeuroNode across the UK and Ireland and improve the quality of life for countless individuals with speech and motor impairments.”

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.