NeuroPrex Inc. Awarded Competitive Grant from the National Science Foundation

Santa Clara, California, July 15, 2018 – NeuroPrex Inc. has been awarded a National Science Foundation (NSF) Small Business Innovation Research (SBIR) grant for $224,925 to conduct research and development (R&D) work on. NeuroPrex is developing a new wearable brain stimulation device for non-pharmacological treatment of depression and other neurodegenerative diseases. Based on repetitive transcranial magnetic stimulation (TMS), NeuroPrex’s solution, named NPX, will improve outcomes of depression treatment by stimulating deeper brain cells and reducing incidence of patient’s pain
and discomfort associated with current TMS therapy.

“The National Science Foundation supports small businesses with the most innovative, cutting- edge ideas that have the potential to become great commercial successes and make huge societal impacts,” said Barry Johnson, Director of the NSF’s Division of Industrial Innovation and Partnerships. “We hope that this seed funding will spark solutions to some of the most important challenges of our time across all areas of science and technology.”

“We are grateful to be selected from the highly competitive applicants and recognized by NSF insightful officers and reviewers.” said Janice Huang PhD, CEO and Principal Investigator of NeuroPrex Inc. “Depression and anxiety disorder are the most prevalent health problem. NPX with its proprietary surface pain reduction technology is the solution. Doctors and patients can use it in their natural setting, free of headache and side effects. Its simpler and safer procedure makes it popularly used by the doctors at all clinics, and eventually by patients at home.”

What are the chances of receiving an NSF Phase I SBIR/STTR award? In fiscal year 2016, the Phase I funding rate was 15% for SBIR and 19% for STTR. Phase II funding rates typically vary between 30% and 55%.

Learn more information please go to https://www.nsf.gov/