Sudbury, ON. IRegained, a Canadian medical device company based in Greater Sudbury, Ontario, has closed a $250,000 seed investment round led by the NORCAT Innovation Angels and Northern Ontario Angels. IRegained develops proprietary technology to help stroke victims recover and improve hand function.
"We are immensely grateful to the NORCAT Innovation Angels and the Northern Ontario Angels (NOA) for their support. It marks a critical step in the commercial development of our proprietary MyHand technology," says Vineet Johnson, IRegained CEO and co-founder. "Our company is developing products that address the physical rehabilitation needs of individuals who have experienced an injury to the brain through stroke or trauma, resulting in impairment in hand function, and we are proud to be a part of the growing medical technology cluster developing in Northern Ontario."
Stroke affects 60,000 Canadians annually. IRegained’s first product, MyHand, is a medical device intended for both clinical and home use that leverages the human brain’s intrinsic neuroplasticity repair mechanisms. The low cost, easy-to-use device recruits new pathways within the brain, enabling a patient’s brain to both control and regain hand function.
"I am extremely proud of the speed of funding and mentoring provided by both the NORCAT and Northern Ontario Angels. Collectively, these groups supported IRegained in establishing operations in Northern Ontario," says Peter Dal Bianco, Chair of the NORCAT Innovation Angels. "To go from initial introductions to closing the first seed round in six months is a testament to our ability to get business done here in Northern Ontario and is one of the main reasons NOA has earned its reputation as the leading angel organization in both investment dollars and transactions in North America."
"As a regional innovation centre, our goal is to accelerate the growth of innovative companies that will drive future economic and social prosperity for Canada," says Don Duval, NORCAT CEO. "With a strong leadership team, differentiated IP and a meaningful value proposition, IRegained is poised to not only improve patient recovery, but also contribute to Canada’s vibrant medtech ecosystem."
For More Information:
Lindsay Lane | NORCAT | firstname.lastname@example.org | 705.521.8324 x337
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NORCAT Innovation works with community partners to help start and accelerate the growth of innovative companies that will drive future economic and social prosperity for Canada.