Neuvotion, Inc., an early-stage medical device company developing neurostimulation products for the rehabilitation and physical therapy markets, today announced that it has received over $1M in seed funding. The Long Island Angel Network, an organized group of individual angel investors based on Long Island, and the Good Shepherd Rehabilitation Network, a nationally recognized rehabilitation leader, have provided the company with its first equity investment. This seed funding will be used by Neuvotion to expand its team, conduct a multi-site clinical study, and seek FDA clearance for its initial product.
Further, Neuvotion secured exclusive worldwide rights to transformative technology developed by its founder, Chad Bouton, who is a professor at the Feinstein Institutes for Medical Research at Northwell Health. “I am inspired by the prospect of helping the millions of patients who have experienced a stroke, traumatic injury, or are living with movement impairment, to reach their goals,” said Chad Bouton, Founder & CEO of Neuvotion. “We are working to commercialize NeuStim and other technologies so they can be used in clinical practice, and ultimately in the home to increase quality of life and independence.”
“We have been very impressed with Professor Bouton’s work and are pleased to support its commercialization through our seed investment in Neuvotion,” said Steve Winick, Managing Director of Topspin Fund and member of the Long Island Angel Network. “As a leading provider of rehabilitation services, we see tremendous clinical potential for Neuvotion’s NeuStim technology,” added Michael Spigel, PT, MHA, President & CEO of Good Shepherd Rehabilitation Network. “We look forward to serving as a foundational research partner in Neuvotion’s upcoming multi-site clinical study. We feel strongly that this technology can help transform lives for people with spinal cord injuries, strokes and other neurological conditions.”