Just three months after its merger deal, digital therapeutics specialist MindMaze Therapeutics is seeking a potential new path as it has unveiled U.S. expansion plans alongside evaluating strategic alternatives for parts of its business.
Back in December, Switzerland-based MindMaze was born via the merger of Relief Therapeutics and NeuroX to create and sell new digital treatments for neurological diseases.
The company’s brain technology platform taps software, sensors and telehealth across clinic and home settings in treatment areas including stroke, Parkinson’s disease and at-risk aging. Meanwhile, MindMaze is also looking to move into multiple sclerosis, spinal cord injury, traumatic brain injury and Alzheimer’s disease.
But, three months down the line since the merger, changes are coming for MindMaze. In a March 3 update, the company revealed in a statement that as part of “a structured integration plan to optimize its organization and portfolio,” the firm is “evaluating strategic alternatives, including potential outlicensing or disposal.”
The company did not give details about what assets might be affected. MindMaze did, however, reveal that two board members, Gregory Van Beek and Michael Stünkel, have stepped down.
The company currently markets several CE marked digital neurotherapeutics in Europe, including Izar for hand rehabilitation, MindPod for immersive therapy and MindMotion GO for gamified rehab.
In its release, MindMaze said its products are already used in more than 100 hospitals and neurorehabilitation facilities in Europe as well as in academic centers.
Now, however, it wants to do more and is “advancing reimbursement-focused clinical initiatives in Europe” in order “to support broader reimbursement and market access across European markets.”
It’s eyeing expansion in the U.S. and is talking with “selected U.S.-wide provider groups and commercial partners” to boost use of its platforms. It’s also upping recruitment efforts for field specialists to help with this approach.
