Investment of $528,550 to help med-tech company commercialize innovative product for stroke patients
April 21, 2022 - Sudbury, ON - Federal Economic Development Agency for Northern Ontario - FedNor
Innovation is key to driving our economy forward as we recover from the impact of COVID-19. In Northern Ontario, the Government of Canada, through FedNor, is investing to encourage innovation and the commercialization of new products, while helping spur business growth and accelerate key sectors of the economy.
Today, Viviane Lapointe, Member of Parliament for Sudbury, announced that IRegained Inc. will receive $528,550, through FedNor, to assist in the commercialization of its innovative device that helps stroke survivors regain use of lost hand function. The announcement was made on behalf of the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor.
Of the total, $498,550 in Regional Economic Growth through Innovation funding will help the IRegained team with development and clinical validation of their unique hand rehabilitation medical devices. Designed for use by therapists to provide rehabilitation therapy to stroke survivors, the portable device, called MyHand System, will allow patients to regain hand dexterity both in a clinical setting and at home. The easy-to-use device can be programmed to administer increasingly challenging tasks as progress is made to help patients regain hand function, promoting more independent living. Furthermore, the clinicians can use the device to treat patients remotely adding to its convenience and safety in the wake of COVID-19.
The remaining $30,000 in Northern Ontario Development Program funding will be used to hire a youth intern to assist with the software programming and automation required to complete late-stage product development of the firm's medical device. The Protocol Development Intern will also support the development of hand function rehabilitation protocols, software architecture, graphic user interface and client validation studies. Combined with the first project, there will be a total of 17 jobs created.
Northern Ontario has been hard hit by COVID-19 and today's announcement is further proof of the Government of Canada's commitment to support innovative entrepreneurs, businesses and start-ups so they can overcome the impacts of COVID-19, ramp up quickly and fully participate in our economic recovery.
