News Cionic raises added $12M to expand bionic clothing to MS, other needs Cionic raises added $12M to expand bionic clothing to MS, other needs Company's Neural Sleeve garment won FDA marketing authorization in 2022 by Mary Chapman | October 24, 2023 Share this article: Share article via email Copy article link Cionic, the neurotech company that developed Neural Sleeve to help people who have problems with mobility, has raised an additional $12 million extension in a Series A financing, bringing the total funding for the garment to $25 million. The funds will help grow the sleeve’s adoption among people with mobility issues due to multiple sclerosis (MS) and other neurological conditions, and expand Cionicās wearable neuromodulation pipeline into new indications. The recent round, led by investment firm L Catterton and joined by other investors, adds to a previous $12.5 million received in series A financing. Cionic recently joined forces with Enable Ventures, the first impact venture fund for disability-related products and services. āOur partners recognize that we are building something truly unique, and we are proud to work with organizations who share not only our vision for the future of healthcare, but whose deep expertise in brand building, healthcare transformation, and disability advocacy will help us accelerate the timeline for making this vision a reality,ā Jeremiah Robison, Cionicās founder and CEO, said in a company press release. āWe have seen how Cionic’s unique bionic clothing has already transformed the lives of those living with mobility impairments, and with the growing consumer interest in wearable health technology, Cionic’s platform has the potential to change the trajectory of personalized healthcare, and clothing, as we know it,ā said Whitney Casey, an L Catterton venture partner and new Cionic board member. Recommended Reading August 30, 2023 News by Patricia Inacio, PhD Neural Sleeve wins multiple honors for excellence in design this year How does the Neural Sleeve work? The Neural Sleeve received market authorization from the U.S. Food and Drug Administration in March 2022, becoming the first federally cleared algorithm-powered bionic clothingĀ for mobility impairment. Available in a number of sizes and colors, the lightweight leg-worn device has multiple sensors that permit it to assess, predict, and improve a wearer’s movement by utilizing algorithms, after which muscles are electrically stimulated and real-time adjustments are made with each step to generate a more natural walking gait. The stimulation can aid walking problems caused by muscle weakness or foot drop, wherein the foot’s front doesn’t lift when taking a step, which renders patients more susceptible to falling, especially on stairs or uneven surfaces. Studies that gauged the flexible deviceās usability at home found that patientsā ability to lift their toes markedly improvedĀ and the turning in of their feet during swing was reduced ā key measurements associated with foot drop. Cionic has established a manufacturing facility in northern California and is licensed to ship Neural Sleeve to 45 U.S. states. More than 400 clinics or other healthcare institutions have prescribed the garment, and customers have collectively tallied more than 200,000 use hours since shipments began early this year. Earlier this year, the company selected the Chicago-based Shirley Ryan Ability Lab as the first location for its Center of Excellence program, where patients can schedule a session to try out the garment. āThere is a revolution underway in healthcare and with it a growing demand for brands that provide not only high-quality care where and when it is needed, but that are also capable of measuring progress and proving outcomes,ā said Robison, who founded Cionic in 2018 to provide better mobility options for his daughter, who was diagnosed with cerebral palsy. āIn helping his daughter, Jeremiah has addressed the mobility needs of more than 35 million people in the United States alone and has unlocked the potential of bionic clothing,ā said Regina Kline, Enable Venturesā founder and managing partner. āEnable seeks to support enterprises like Cionic which truly represents the intersection of disability and epic technology.ā Print This Page About the Author Mary Chapman Mary graduated from Wayne State University with a degree in journalism. She began her career at United Press International, then spent a decade reporting for the Bureau of National Affairs, Inc. (now Bloomberg Industry Group). Mary has written extensively for The New York Times, and her work has appeared in publications such as Time, Newsweek, Fortune, and the Chicago Tribune. Sheās won a Society of Professional Journalists award for outstanding reporting. Tags Cionic, neural sleeve
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