NEW YORK, June 09, 2021 (GLOBE NEWSWIRE) — PainQx, Inc. (www.painqx.com), a medical device company developing a next-generation approach to objectively assess chronic pain, is pleased to announce it has been awarded a Defense Health Agency (www.health.mil) Phase II SBIR contract. The DHA SBIR contract will enable PainQx to refine and expand the capabilities of its novel pain assessment technology, the ALGOS System.
The PainQx ALGOS System is an AI-enabled software platform that uses electroencephalogram (EEG) derived neural activity to objectively assess pain. The data is processed through a series of proprietary algorithms to generate a scaled chronic pain biomarker correlating to a patient’s pain. The ALGOS System is a point of care solution that will enable physicians to make better treatment decisions, track patient outcomes, and ultimately reduce pain management costs.
The DHA SBIR contract will enable PainQx to build upon the success of previously awarded National Institute on Drug Abuse (NIDA) Phase I and Phase II SBIR award for the “Development of a Device to Objectively Measure Pain.” With the DHA SBIR contract, PainQx will conduct a multi-site human research study, refine current algorithms, develop additional pain-related algorithms beyond pain intensity, and solicit additional clinician and patient input in preparation for future Food and Drug Administration (FDA) interactions.
“The entire PainQx team is thrilled for the opportunity to further the efforts made in our NIDA Phase II awards and expand our vision for this technology in partnership with the DHA,” said Frank Minella, PainQx Founder & CEO. “We are thankful for the support of the DHA SBIR Program to meet a shared goal of improve the lives of the millions of Americans, both military and civilian, who suffer from chronic pain. As a result of this award, PainQx will be able to reach our goal of developing an objective, replicable, and patient focused device that will establish a new standard of care in chronic pain management.”
About PainQx:
PainQx, Inc. (www.painqx.com) is a medical device company that is developing the ALGOS System, a platform to objectively measure chronic pain by analyzing neural activity from electroencephalogram (EEG) data. Data is processed through proprietary software and machine-learning algorithms to generate a scaled chronic pain biomarker correlating to a patient’s pain. The ALGOS System is an investigational device and has not yet been cleared by the FDA.
Media and Investor Relations Contact:
Frank Minella
Founder & CEO, PainQx Inc.
office@painqx.com
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Source: https://www.biospace.com/article/releases/painqx-awarded-1-5m-phase-ii-sbir-contract-from-the-defense-health-agency-sbir-program-to-refine-objective-pain-assessment-technology/?s=93
