Each year, more than 7% of school-age children are diagnosed with Attention Deficit Hyperactivity Disorder (ADHD). Most are treated with stimulants such as Ritalin, whose benefits last only a few hours and often cause unpleasant side effects.
Innosphere’s breakthrough invention – which entails wearing a special cap for just 20 minutes a day for 10 days – has shown impressive results in two clinical trials at Hadassah Medical Center in Jerusalem, involving 43 children aged 8-12. Following the treatment, children demonstrated a 44% drop in ADHD symptoms, and this substantial improvement lasted for up to 10 weeks.
“The latest results are impressive because they show a significant impact that positively affects the symptoms in children with ADHD,” asserts Prof. Itai Berger from Assuta Ashdod Medical Center.
Innosphere has received emotional letters from parents of children who took part in the trials, many of whom attested that their children’s lives have been transformed by the treatment and that their school grades have improved dramatically.
The first clinical trial results were documented in a scientific paper published in the prestigious Clinical Neurophysiology Journal. Additional clinical trials will soon begin at one of the top hospitals in the U.S. and the goal is to obtain FDA approval for the technology by beginning of-2024.
Innosphere was founded by four entrepreneurs from Haifa intent on helping a friend whose daughter suffered from insomnia and depression as a result of ADHD medication. Although the girl’s school insisted that she continue taking the drug on a daily basis, her parents refused. “When we established the company, we had a clear goal: to offer an alternative to the existing treatment, which hasn’t changed for more than 20 years. We wanted to find a solution that would be more effective and would not have side effects, thereby impacting and improving the lives of millions of children and their parents,” says Rami Shacour, CEO and co-founder of Innosphere.
The four entrepreneurs partnered with renowned experts in the fields of cognitive neuroscience and pediatric neurology, including Prof. Roi Cohen-Kadosh from the University of Oxford, Prof. Bruce Wexler from Yale University Medical School, and Prof. Itai Berger from Hadassah Medical Center and Assuta Ashdod Medical Center. The company's core technology leverages Adaptive Frequency Random Noise Stimulation to stimulate precise spots in the brain in order to enhances neural activity and normalizes cognitive dysfunctions.
The treatment is simple – children with ADHD wear a special cap for only 20 minutes a day for a period of 10 days. The cap, which comes in three sizes for different ages, is fitted with electrodes that stimulate the parts of the brain that affect concentration. During the sessions, the children don’t feel the stimulation at all. So far, the treatment has been proven to be effective for 10 weeks; however, the researchers maintain that it is actually effective for up to six months and that children will need to repeat the intervention only twice a year.
Enormous market potential
Innosphere’s R&D is carried out in Israel, while its branches in the U.S. and Europe are focusing on the clinical and business aspects. The company is in the process of completing a substantial post-seed round totaling over $5M which attracted leading global strategic and brand equity investors.
Towards the end of 2022, the technology will be launched in the Israeli market, as it is already in the final stages of being approved by the local equivalent of the FDA. Israel will be used as a test market prior to the expected roll-out in the U.S. and later in Europe.
The market potential is enormous. In the United States alone, there are around 6.4M children with ADHD, and global revenue from ADHD medication is expected to reach $25B in 2024 according to the CDC.
Valuable support from IN-VENTech
Innosphere’s founders attribute much of their remarkable success to the fact that they are part of the IN-VENTech Startup Business Program. IN-VENTech is backed by the city of Haifa through hiCenter to promote tech ventures and the ecosystem in the port district of Haifa. The program has provided valuable support during the start-up’s critical development stage, including ongoing professional counsel and assistance in building an investment model and a marketing strategy. Innosphere is one of 31 Haifa-based startups currently being mentored at IN-VENTech.
“We feel that the dedicated staff at IN-VENTech are our true partners. They have helped us so much, providing personal care and support daily. Moreover, they are continuing to help us raise funds that will enable us to enter the US market,” says Rami Shacour.
The registration is now open to IN-VENTech Startup Business Program 4th batch
For more information about Innosphere, click here.
Presented by IN-VENTech