Mission Viejo-based MYnd Analytics Inc. (Nasdaq: MYND) is in the business of behavioral health. Its flagship platform Peer provides a personalized patient report using electroencephalography, which monitors brain electrical activity.
MYnd, which earlier filed patent applications in the U.S. and Canada related to its acquisition of patient responsivity data for transcranial magnetic stimulation, or TMS, recently announced it received approval in Canada. The patent provides protection through 2029.
“This patent comes on the heels of our recent commercial launch of this technology in both the United States and Canada,” said Chief Executive George Carpenter.
TMS is a noninvasive outpatient procedure that uses electricity to stimulate areas of the brain thought to control mood. MYnd plans to offer it as an alternative treatment for patients with depression who’ve tried one or more antidepressants with no good results.
TMS may not be an effective treatment for everyone. MYnd says its Peer platform allows doctors to analyze patient responsivity to it, enabling them to provide the treatment only to patients more likely to benefit.
The National Institute of Mental Health said in a report that brain stimulation therapies “can play a role in treating certain mental disorders.”
MYnd hopes to get U.S. patent approval for TMS this year.
Shares of the company trade at $2.70 each for an approximately $11.6 million market cap.
MYnd said its strategy includes growing its telebehavioral health business through wholly-owned subsidiary Arcadian Telepsychiatry Services LLC, which it acquired in November. Arcadian connects patients to licensed and credentialed psychiatrists, psychologists and other behavioral health therapists using video conferencing. Services include urgent care, rehabilitation and care management.
Cryoport Adds Client
Cryoport Inc. (Nasdaq: CYRX) announced it added European cell therapy company TiGenix (Nasdaq: TIG) as a client, supporting TiGenix’ clinical trial for the treatment of sepsis.
The Irvine-based company transports biopharmaceutical materials that must be kept at freezing temperatures.
The trial will recruit 180 patients in at least 50 centers.
Cryoport trades at nearly $8 per share for about a $200 million market cap. It reported revenue of $3 million for the quarter ended on Sept. 30, up 52% year-over-year. Growth was primarily driven by biopharmaceutical customers, which made up $2.3 million in sales.
Device Approval
Patient monitoring device maker Masimo Corp. (Nasdaq: MASI) got European CE Mark approval for Eve, a heart disease screening application for newborns. The application is available for the Rad-97 and Radical-7 pulse co-oximeters.
A co-oximeter measures the amount of oxygen in the blood.
The condition affects about three newborns per 1,000 live births, according to a 2011 report by Maryland’s health department.
The application hasn’t obtained Food and Drug Administration clearance and isn’t available in the U.S.
New Lab
Women’s healthcare diagnostic company CiceroDx Inc. added a second U.S. laboratory site to process its fertility test offerings. The Huntington Beach-based company now has a second location in Seattle, contracting with PhenoPath Laboratories. Cicero also maintains a testing center in Greenville, S.C.
Cicero’s signature ReceptivaDx test is designed to provide insights on unexplained fertility, failed in vitro fertilization and recurrent pregnancy loss.
Bits & Pieces
CalOptima expanded its Pace program of all-inclusive care for the elderly, adding partnerships with some community-based adult services centers. The new centers include Acacia Adult Day Services in Garden Grove and SeniorServ Adult Day Health Care in Anaheim and Santa Ana. The program, launched in 2013, was designed to provide coordinated care to seniors with chronic health conditions.
