ELLICOTT CITY, Md., Sept. 27, 2022 /PRNewswire/ — Evon Medics, LLC today announced that it has been awarded a non-dilutive grant of $2.9 million for its FAST-TRACK SBIR (Small Business Innovation Research) study for the development and evaluation of its Computerized Chemosensory-Based Orbitofrontal Networks Training for Treatment of Pain (CBOT-P). This award is funded through the NIH HEAL (Helping to End Addiction Long-term) initiative and sponsored by the National Institute of Neurological Disorders and Stroke (NINDS) of the National Institutes of Health (NIH).
The CBOT-P is a portable, safe, and user-friendly device that uses chemosensory stimulation of the anatomical secondary olfactory cortex (part of the brain which plays a key role in pain and multisensory processing, pain control, decision making and emotion regulation) for home-based treatment of Chronic Pain. It works by using proprietary algorithms of stimulation parameters to trigger the neurons in the olfactory cortex with high fidelity.
“This additional funding brings to total over $10 million of non-dilutive funding awarded to Evon Medics from 3 different institutes of the NIH in less than 4 years,” said Charles Nwaokobia, Chief Operating Officer at Evon Medics. “This is further validation of the huge prospects of our unique and patented Olfactory Treatment Delivery Systems (OTDS) technology, which I believe is bound to disrupt the healthcare industry for management and treatment interventions of neurodegenerative and other neurological diseases in the near future.”
Evon Medics, LLC is a medical devices and neuroscience research company founded in April 2013 by Johns Hopkins trained physicians. The company develops therapeutics, diagnostics and devices for the treatment of Alzheimer’s Disease, Opioid Use Disorder, Traumatic Brain Injury, Chronic pain, Treatment Refractory Depression, and other chronic neurological diseases that have remained elusive to treatment. The company Head Office is in Ellicott City, Maryland.
SOURCE Evon Medics, LLC