GTX Medical of The Netherlands and Switzerland, and NeuroRecovery Technologies, of San Juan Capistrano, California announced they intend to merge as GTX Medical with the goal of developing devices for restoring movement and the ability to walk in patients with paralysis and spinal cord injuries.
Shareholders and investors include the Christopher and Dana Reeve Foundation, LSP, Inkef, Wellington Partners, and GIMV.
The joint company will focus on developing two technologies to improve the functional recovery of people with spinal cord injuries:
- Targeted Epidural Spine Stimulation (TESS) – an implantable spinal cord stimulation system with real-time motion feedback
- Transcutaneous Spinal Cord Stimulation (tSCS) – a noninvasive device aimed at restoring upper limb movement and hand function