What do you do if you’re an innovative digital therapeutics startup that recently raised $125M in October? If you’re MindMaze, you follow it up with another $105M to “supercharge” growth even further.
- MindMaze develops mixed reality digital therapeutics that help patients recover from neurodegenerative diseases and brain injuries. The company combines AI-enabled software with hardware peripherals to produce immersive VR/AR experiences.
- The FDA-approved platform would fit in a sci-fi novel just as well as in the hospitals currently using it. MindMaze’s solutions use wearables to sense a patient’s brainwaves and muscle activity while a proprietary motion capture camera system helps predict movements before they’re made.
- As an example, a movement impaired stroke patient equipped with the MindMaze platform could attempt to move their hand and see a normal motion response in VR, which helps the brain create new neural pathways and regain real-world motor control.
- These exercises are then gamified into situations such as driving a racecar to improve engagement and encourage patients to follow a recovery regime without constant touchpoints with a dedicated therapist.
Solutions Follow Coverage
In its funding announcement, MindMaze called the latest CPT III codes for asynchronous physical therapy “a tremendous milestone” that allow new products to be brought to market. The referenced code (0733T) was issued in December for remote body and limb kinematic measurement-based therapy, widening the path to reimbursement for in-home solutions like the ones provided by MindMaze.
The regulatory support and fresh funding will be used to advance commercialization in the US through a partnership with the American Hospital Association that expands MindMaze’s footprint in neurorehabilitation centers while fast tracking its pipeline, which includes three new therapeutics for chronic stroke, Parkinson’s Disease, and age-related cognitive impairment.