Periodic Reporting for period 1 - BrainPatch (BrainPatch – Breakthrough non-invasive brain stimulation using AI)
Reporting period: 2019-06-01 to 2019-11-30
The prevalence of cognitive / neurological disabilities is becoming more and more a societal problem, especially considering the burden of degenerative diseases like dementia. The global cost of dementia, for example, is estimated to be in the range of $1 trln. And this also comes as a result of the ageing population, where the ageing and longevity market alone is currently estimated at around $250 bln. On top of that, mental well-being has far-reaching economic implications particularly for challenging industries requiring high intellectual capacity and mental stamina, where increasing the efficiency of the workforce directly increases the value generated by the business.
Despite all the new methods that are in the market, there is no solution offering a non-invasive brain stimulation technology able to effectively alter a brain state and to restore a well-functioning brain for a range of problems.
BrainPatch’s technology overcomes one of the biggest challenges in neurotechnology by personalizing brain stimulation. Personalization of the stimulation protocols improves the efficacy of the outcomes. Based on the evidence of the effect of non-invasive brain stimulation on cognitive decline in dementia and based on the dramatic effects personalisation of stimulation may have on the response of the brain, we strongly believe that BrainPatch’s patent pending technology is uniquely positioned as the safest and inexpensive solution for effective management of mental well-being and cognitive disabilities, particularly of cognitive decline in patients living with dementia.
The feasibility study, as part of the Phase 1 project helped validate the viability of BrainPatch’s technology and the future market acceptance. The future EIC Accelerator (SME Instrument) Phase 2 promises the finalization of the technology towards TRL 8 to enable the future commercialization of the BrainPatch’s solution in line with the internationalisation plan.
Despite all the new methods that are in the market, there is no solution offering a non-invasive brain stimulation technology able to effectively alter a brain state and to restore a well-functioning brain for a range of problems.
BrainPatch’s technology overcomes one of the biggest challenges in neurotechnology by personalizing brain stimulation. Personalization of the stimulation protocols improves the efficacy of the outcomes. Based on the evidence of the effect of non-invasive brain stimulation on cognitive decline in dementia and based on the dramatic effects personalisation of stimulation may have on the response of the brain, we strongly believe that BrainPatch’s patent pending technology is uniquely positioned as the safest and inexpensive solution for effective management of mental well-being and cognitive disabilities, particularly of cognitive decline in patients living with dementia.
The feasibility study, as part of the Phase 1 project helped validate the viability of BrainPatch’s technology and the future market acceptance. The future EIC Accelerator (SME Instrument) Phase 2 promises the finalization of the technology towards TRL 8 to enable the future commercialization of the BrainPatch’s solution in line with the internationalisation plan.
During the Phase 1 project, in the second half of 2019, BrainPatch has discussed and interviewed subject matter experts and potential customers to test the solution acceptance from both the technical and commercial points of view.
Initially, BrainPatch has tested the prototype with potential customers to validate the technology, reach TRL7, and develop a roadmap for the future developments needed to reach TRL8. This has also helped BrainPatch’s technical and commercial team to identify and develop mitigation plans for the risks that can potentially arise.
Secondly, BrainPatch has conducted in-depth market analyses to confirm unique value proposition of the solution and its benefits for the customers, evaluate the future market size and competitive solutions
Additionally, during the Phase 1 project, BrainPatch has conducted a freedom to operate analysis to validate it is not infringing any IP, allowing current R&D and commercial operations to carry on. BrainPatch’s intellectual property is protected. Besides licensing a patent from Monash University, BrainPatch has also submitted its own patent application for one of the core technologies and has the intellectual capacity to continue innovating.
Initially, BrainPatch has tested the prototype with potential customers to validate the technology, reach TRL7, and develop a roadmap for the future developments needed to reach TRL8. This has also helped BrainPatch’s technical and commercial team to identify and develop mitigation plans for the risks that can potentially arise.
Secondly, BrainPatch has conducted in-depth market analyses to confirm unique value proposition of the solution and its benefits for the customers, evaluate the future market size and competitive solutions
Additionally, during the Phase 1 project, BrainPatch has conducted a freedom to operate analysis to validate it is not infringing any IP, allowing current R&D and commercial operations to carry on. BrainPatch’s intellectual property is protected. Besides licensing a patent from Monash University, BrainPatch has also submitted its own patent application for one of the core technologies and has the intellectual capacity to continue innovating.
BrainPatch’s project addresses the aim of the SME Instrument by offering an innovative, safe and effective non-invasive treatment for patients with neurological disorders i.e. dementia, so that they can proactively manage their neurological health. BrainPatch’s advancement in the non-invasive brain stimulation will provide people with a wide range of safe, effective and inexpensive treatments that can be administered in specialty clinics, outpatient clinics, office-based treatment centres, etc.
The BrainPatch’s core technology improves the effectiveness of the non-invasive brain stimulation through personalisation of the stimulation in real-time. The device has the potential to provide a safe and easy method to modulate brain activity and enhance cognitive abilities for people living with dementia, but also for healthy individuals. Additionally, to support the infrastructure of the multitude of clinical and non-clinical applications developed in-house and to provide access to our technology to third parties, BrainPatch is developing a marketplace for these apps. We currently have an application for de-stressing to help restore productivity and mental capacity in a stressful environment. Potential applications can include enhancement of concentration, mood, sleep and learning as well as clinical applications in Alzheimer’s disease epilepsy, Parkinson's, ADHD, and many more.
BrainPatch is constantly engaging in a range of public speaking and exhibiting events to demonstrate the power of electrical stimulation for altering brain states and is contributing to raising public awareness of the importance of protecting our brains. When launched in the market, the global impact of non-clinical and clinical applications will be measured through the significant social and economic implications and through improving quality of life of people in need of care and of their family members.
The BrainPatch’s core technology improves the effectiveness of the non-invasive brain stimulation through personalisation of the stimulation in real-time. The device has the potential to provide a safe and easy method to modulate brain activity and enhance cognitive abilities for people living with dementia, but also for healthy individuals. Additionally, to support the infrastructure of the multitude of clinical and non-clinical applications developed in-house and to provide access to our technology to third parties, BrainPatch is developing a marketplace for these apps. We currently have an application for de-stressing to help restore productivity and mental capacity in a stressful environment. Potential applications can include enhancement of concentration, mood, sleep and learning as well as clinical applications in Alzheimer’s disease epilepsy, Parkinson's, ADHD, and many more.
BrainPatch is constantly engaging in a range of public speaking and exhibiting events to demonstrate the power of electrical stimulation for altering brain states and is contributing to raising public awareness of the importance of protecting our brains. When launched in the market, the global impact of non-clinical and clinical applications will be measured through the significant social and economic implications and through improving quality of life of people in need of care and of their family members.