Toronto-headquartered Neurolign Technologies Inc. has acquired Neuro Kinetics Inc., which delivers neurofunctional assessments through clinical eye-tracking and non-invasive neurofunctional diagnostic testing. The acquisition of the Pittsburgh company accelerates Neurolign’s mission to improve the lives of patients suffering from neurological disorders like concussions.
Neurolign will acquire the assets and operations of Neuro Kinetics, including customer relationships, all products, technologies, related intellectual property, fixed assets and will assume certain liabilities.
Neurolign is a privately held diagnostic and pharmaceutical company focused on the diagnosis and treatment of neurological conditions. Neurolign’s founder, chairman and CEO is Eugene Melnyk, the creator of multiple health care companies, including Biovail Corp. (acquired by Bausch Health), and the current owner of the Ottawa Senators Hockey Club.
“There is an urgent need for new innovative technologies that bring objective diagnostic data for TBI (Traumatic Brain Injury), said Dr. David Okonkwo, Ph.D., professor of neurosurgery at the University of Pittsburgh and director of the Neurotrauma Clinical Trials Center. “This investment in Neuro Kinetics can accelerate the development and commercialization of this novel technology and take the lead in diagnostics across multiple dimensions of brain health.”
With over 90 variables and 14 FDA cleared tests, Neuro Kinetics’ foundational platforms help clinicians identify more than 200 diseases and medical conditions early, accurately and cost-effectively.
“We look forward to the next phase of the company’s growth and development and are very excited to be merging with Neurolign,” Neuro Kinetics President and CEO Howison Schroeder said, in a statement. “The opportunities created by this transaction provides us with the support we need to further advance our planned developments for the assessment of additional neurological diseases.”