Neurotech gains 32pc after releasing details on a treatment for autism
Shares in Neurotech International surged after announcing the results of a US trial for the company’s at-home device for children with autism.
The shares jumped 32 per cent from 15.5c to 20.5c this morning — before giving up all their gains and dropping back to 15c. About $411,000 worth of shares were bought and sold.
Neurotech says the full results of the US clinical trial for its Mente Autism device, published by leading medical journal Frontiers in Neurology, showed a reduction in autistic behaviours as well as improved social and communication skills.
The study, administered by Carrick Institute, was a double-blind investigation of 34 subjects over 12 weeks. Those with autism find it difficult to communicate with and form relationships with other people.
“When we first designed the study, Mente Autism was of interest as it is a novel tool that takes clinical neurofeedback, an established non-invasive biofeedback approach for the treatment of autism, and makes this really accessible as a treatment option for parents of children with autism,” says Professor Frederick Carrick, lead author of the publication.
“As we flagged along the way, we have been very excited that the study has yielded statistically significant results which show improvements across a wide range of functional areas in the Active group, and not in the Control group.
“All of these support the positive feedback and gratitude we have received from parents in the Active group, who have noticed improvements in communication and social skills in their child.”
Neurotech Chief Executive Officer Wolfgang Storf says he’s pleased by the results of the independent study. Neurotech now expects to market Mente Autism in the US.
“To have the parents of the autistic children say their social interaction and communication has improved post therapy, and have this supported by the science, are key outcomes we have targeted with Mente Autism from day one,” he says.
“These results give us a strong basis to move toward an FDA (US Food and Drug Administration) submission and progress sales programs of Mente Autism, which will be made available through our distributors.
“More broadly, we hope that this will raise a real awareness about neurofeedback as one of the tools to help to parents of children with autism, that isn’t invasive and doesn’t involve drugs.”