AUS
NZ
UK
CA
USA
IND
Highlights
- Control Bionics (CBL) enters US sports and Japanese rehabilitation sectors with NeuroStrip agreements.
- Strategic partnerships target enhanced athletic performance and neurological recovery.
- New deals expected to generate revenue through hardware sales and software subscriptions.
Control Bionics (ASX:CBL) is making significant strides with its NeuroStrip wireless wearable device, securing its first commercial agreements in the United States and Japan. These developments mark the company’s entry into two distinct markets: sports performance in the US and neurological rehabilitation in Japan.
The new partnerships aim to expand the application of NeuroStrip technology while strengthening the company’s market presence in these regions. Control Bionics anticipates generating material revenue through the sale of NeuroStrip hardware and recurring software-as-a-service subscription fees.
US Partnership with Neuro Elite Athletics
Control Bionics has partnered with Neuro Elite Athletics (NEA) to introduce NeuroStrip to the US sports market. The company has acquired a 20% stake in NEA with a US$250,000 investment, comprising cash and in-kind contributions. This partnership supports the rollout of NEA’s proprietary NeuroBounce program, which enhances athletic performance through computerised electromyography (EMG) training.
The NeuroBounce program, proven to improve an athlete’s vertical jump by up to 15 centimeters, is targeting over 28,500 college sports teams and 600,000 athletes in the US college circuit. NEA also plans to expand into high school sports, which include more than 300,000 teams and nearly 7.9 million participants. Under this agreement, Control Bionics will benefit from direct revenue streams through hardware sales, software subscriptions, and distributions from NeuroBounce. The company also holds exclusive rights to market the program in Australia and Japan.
Japanese Agreement with Stroke Lab
Control Bionics has also signed an agreement with Tokyo-based Stroke Lab to adapt its NeuroStrip technology for the Japanese market. Stroke Lab is a rehabilitation facility specializing in neurology and therapy, leveraging surface EMG technology to deliver personalized stroke recovery solutions.
This partnership sets the stage for a joint operating agreement in the coming year, aiming to establish Control Bionics as a key player in Japan’s advanced rehabilitation sector.
A Strategic Milestone for Control Bionics
Control Bionics CEO Jeremy Steele highlighted these partnerships as pivotal to the company’s growth. Steele emphasized the collaborations' potential to enhance innovation, scale operations rapidly, and diversify into high-growth markets.
By leveraging these partnerships, Control Bionics aims to extend its technological footprint while creating new revenue streams, advancing its mission to empower individuals through neurotechnology.
