Highlights
- Control Bionics has emerged as a leading player in the global assistive technology industry.
- The firm is involved in providing innovative augmentative communications & control devices to people with serious medical conditions.
- CBL’s NeuroNode Trilogy is a 3-in-1 solution to help people suffering from paralysis and loss of speech.
- The firm hosts the latest generation of the world’s leading wireless and wearable solution, NeuroNode3.0 that runs on the EMG technology.
A pioneer in the assistive technology industry, Control Bionics (ASX:CBL) has emerged as a leading player for innovative augmentative communications and control devices. The firm serves a broad range of disabled people internationally with its technology that helps them communicate better and control their environment.
The firm’s world-class core patented NeuroNode technology is the cornerstone of its product leadership in the assistive technology space. The technology has been integrated in two comprehensive augmentative alternative communication (AAC) systems -- the NeuroNode3 system and the NeuroNode Trilogy system.
CBL is dedicated to serve patients with conditions such as amyotrophic lateral sclerosis/ motor neurone disease (ALS/MND), spinal muscular atrophy (SMA), cerebral palsy (CP), and spinal cord injury (SCI).
Salient features of CBL’s NeuroNode Trilogy
As the name suggests, NeuroNode Trilogy is a 3-in-1 assistive tech device equipped with touch control, eye control and NeuroNode technology. The device is used to assist people with paralysis and loss of speech. It combines eye-gaze technology, allowing eligible users a faster speed and less fatigue experience compared to eye-gaze only systems.
Image source: CBL ASX release in October 2021
NeuroNode3.0 is the latest generation of the world’s leading wireless and wearable solution that runs on EMG technology or electromyography. The lightweight band has a 24-hour-long battery life.
This system helps people having difficulty with eye control to communicate exclusively via the NeuroNode sensor.
CBL’s solution for insurance funding for patients worldwide
Control Bionics operates in Australia, Singapore, Japan, and North America. The firm offers its clients a simple insurance funding solution for speech generating devices (SGD) for augmentative and alternative communication (AAC) through its one-time funding application, NeuroNode.
For all its clients based in the United States, Control Bionics allows easy funding evaluation through the Veterans Health Administration, Medicare, Medicaid, private insurance, and several education systems.
In Australia, CBL is a registered National Disability Insurance Scheme (NDIS) Provider, while in Ontario (Canada), CBL is ADP-approved.
Serving its clients round the clock
The ASX-listed firm delivers quick response to its customers’ inquiries, irrespective of their geographical location. Be it individuals affected with communication difficulties, their family members, therapists, clinicians, or caregivers – anyone can connect with CBL’s team and submit their inquiries online.
Also, people engaged in procurement of assistive technology devices can contact CBL for assistance.
New product range ready for launch in FY22
Control Bionics has kicked off 2022 with a strong market position in the assistive communication technology sector and is looking forward for progressive times ahead. The key priorities for the third and fourth quarter of FY22 include strengthening its product leadership as well as its differentiation.
The firm is planning to launch a broader array of assistive technology products. It will include a smaller touch-only product called UnoTouch to appeal to ambulatory users (often children) with conditions like autism and intellectual disabilities.
Another product, an innovative accessory product called Cosmos Connect, is also expected to be introduced soon. It will help users with severe disabilities to play and control external devices such as dining robots, toys, mobile phones and tablets and game consoles. Moreover, the product will enable interaction with other users via pilot mode.
All in all, Control Bionics is on a strong path to grow its market-leading, patented technologies and systems globally, besides aiming to make deeper inroads into existing markets.
Stock information: CBL shares were trading 2.197% higher at AU$0.465 on the Australian Securities Exchange (ASX) midday on 14 January 2022. The firm has a market capitalisation of AU$39.54 million.
Comment