ClearPoint Neuro, Inc. Announces Multi-Product Joint Development & Option Agreement with Blackrock Microsystems

Partnership Enables ClearPoint Neuro to Compete in New and Complementary Markets

SALT LAKE CITY, UT (September 22, 2020) — Blackrock Microsystems would like to congratulate the University of Utah Biomedical Engineering Department on receiving FDA approval to initiate their investigational device exemption (IDE) study for their next evolution of peripheral nerve studies using the Utah Slant Array (also known as USEA) under the HAPTIX program. The Defense Advanced Research Projects Agency (DARPA) program from their Biological Technology Office (BTO) is pursuing key technologies to enable precision control of and sensory feedback from sensor-equipped upper-limb prosthetic devices. With FDA approval for further peripheral nerve research using the Slant Array, a take-home trial will begin investigating whether the University of Utah’s prosthetic arm system improves amputees’ performance of activities of daily living.

At the core of these studies is the Slant Array, which is the peripheral nerve cousin to the Utah Array – the gold standard for human central nervous system recording since 2004 and stimulation since 2015. Until now, all human peripheral nerve studies using the Slant Array under the HAPTIX program have taken place in the lab using the DEKA LUKE Arm, a prosthetic device with multiple powered joints and sensors. The team has spent several years developing the technology that controls the motor control and sensory feedback delivered to the amputee through the Slant Array. It is their goal to make the control and feedback as realistic as possible. Previous work has shown that the Slant Array can create natural sensations, and the sensory feedback enhances interaction with the prosthesis in a meaningful manner.

Loren Rieth, Ph.D., Associate Professor at the Feinstein Institutes for Medical Research and Adjunct Associate Professor of the Biomedical Engineering Department says, “This study would not have been possible without development helical leads, tip metal improvements, truly countless SEM images and characterization of truly countless arrays allowing the devices to perform well for up to 17 months with past participants.” He continues, “Ranging from substantially improved [Slant Arrays] that provide unprecedented biomimetic activation of cutaneous percepts and greatly increased long-term functionality, to [Blackrock Microsystems’] assistance with obtaining regulatory approval, these have been absolutely essential in advancing the field of neural prosthetics.”

The Slant Array is the electrode interface array for peripheral nerve applications due to varying electrode lengths across the array, and the ability to utilize up to 300 individual electrodes (3 Slant Arrays) for these studies. The varying electrode length allows more selective stimulation and recording of fascicles with the nerve when compared to conventional cuff electrodes. The University of Utah team, led by Associate Professor Gregory Clark, mentions many broader applications of the Slant Array, “Experimental successes and regulatory approvals associated with HAPTIX may facilitate progress and approvals of Slant Arrays for other peripheral nervous system uses that are already being explored experimentally, such as for auditory nerve implants to provide improved hearing, motor nerve stimulation for reanimating paralyzed limbs after spinal cord injury or stroke, bladder control, or pain mitigation.” He further adds, “Because peripheral nerves innervate almost every body part and organ system, there are multiple opportunities to provide clinical benefits for a wide variety of disorders or diseases.”

“The initial success the UofU has had in this field is precisely what government funds should support, it is crucial financial funding we need to translate an innovation technology such as this into a clinical application to benefit patients”, says Marcus Gerhardt, CEO of Blackrock Microsystems. The University of Utah Biomedical Engineering Team will begin their FDA-approved take-home phase of the research, testing how the prosthetic LUKE Arm with the Slant Array for sensory feedback functions in real world settings. The advancements of this research will benefit millions of people living with limb loss, as the HAPTIX program continues its mission of restoring function and feeling.

About ClearPoint Neuro

ClearPoint Neuro’s mission is to improve and restore quality of life to patients and their families by enabling therapies for the most complex neurological disorders with pinpoint accuracy. Applications of the Company’s current product portfolio include deep-brain stimulation, laser ablation, biopsy, neuro-aspiration, and delivery of drugs, biologics, and gene therapy to the brain. The ClearPoint Neuro Navigation System has FDA clearance, is CE-marked, and is installed in over 60 active clinical sites in the United States, Canada, and Europe. The Company’s SmartFlow® cannula is being used in partnership or evaluation with 25 individual biologics and drug delivery companies in various stages from preclinical research to late-stage regulatory trials. To date, more than 4,000 cases have been performed and supported by the Company’s field-based clinical specialist team which offers support and services for our partners. For more information, please visit www.clearpointneuro.com.

About Blackrock Microsystems

Blackrock Microsystem’s mission is to provides innovative tools and neurotech expertise to translate technology into novel, implantable clinical solutions that improve human lives. We are the leading provider of technology in the neuroscience, neural engineering, and neural prosthetics space. Blackrock’s technology is at the core of worldwide innovations in Brain-Computer-Interfaces (BCI). Enabled by our expertise in precision electrode technology, signal processing and stimulation, BCIPioneers have been able to MoveAgain, WalkAgain and TalkAgain. For more information, please visit www.blackrockmicro.com.

Forward-Looking Statements

Statements herein concerning the Company’s plans, growth and strategies may include forward-looking statements within the context of the federal securities laws. Statements regarding the Company’s future events, developments and future performance, as well as management’s expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. Uncertainties and risks may cause the Company’s actual results to differ materially from those expressed in or implied by forward-looking statements. Particular uncertainties and risks include those relating to the impact of COVID-19 and the measures adopted to contain its spread; future revenues from sales of the Company’s ClearPoint Neuro Navigation System products; the Company’s ability to market, commercialize and achieve broader market acceptance for the Company’s ClearPoint Neuro Navigation System products; and estimates regarding the sufficiency of the Company’s cash resources. More detailed information on these and additional factors that could affect the Company’s actual results are described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, and the Company’s Quarterly Report on Form 10-Q for the three months ended September 30, 2020, both of which have been filed with the Securities and Exchange Commission, and the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, which the Company intends to file with the Securities and Exchange Commission on or before March 31, 2021.

ClearPoint Contact

Danilo D’Alessandro, Chief Financial Officer
(949) 900-6833

Jacqueline Keller, Vice President, Marketing
(949) 900-6833

Blackrock Microsystems Contact

Marcus Gerhardt, CEO
(801) 582-5533

Shilo Case, Marketing Manager
(801) 582-5533

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