Neural Noise

MindMaze

2 min read

  • MindMaze is a neurotech company focused on digital neurotherapeutics, rehabilitation, and brain-machine interfaces.1
  • Their platform targets motor rehabilitation and has applications in clinical BCI and neuroprosthetics.1

Gardner updates

  • TipRanks (Google News) reported Baader Bank initiating coverage of MindMaze Therapeutics with a Buy rating, framed as increasing market confidence in the company’s rehabilitation platform.1
  • MindMaze became a publicly listed entity (SIX: MMTX) via a reverse merger: NeuroX (which acquired MindMaze assets and IP in April 2025) merged with Relief Therapeutics, completing on 15 December 2025; the transaction issued ~140M new shares and created MindMaze Therapeutics Holding SA.2
  • Zach Henderson was appointed CEO in March 2026; the company reported CHF 0.6M in revenue and a CHF 9.9M net loss for 2025, with commercial scale-up and US expansion as 2026 priorities.3
  • In May 2026, MindMaze announced a CHF 8 million strategic equity financing from Neuro.io Group, structured in two tranches of treasury share purchases and mandatory convertible loan notes converting into ~30M ordinary shares over 12 months.4
  • Real-world evidence from a two-year, multi-site program with Vibra Healthcare (five inpatient rehabilitation facilities, ~210 patients) showed a 60% increase in delivered therapy per day (~6.2 additional hours per patient), 75% of patients trained on enrolled days, and 77% reported improved mobility; results were presented at ASNR.5
  • The INTENSIVE RCT (n=105, chronic stroke, University College London) showed both active arms improved by >10 points on the Fugl-Meyer Upper Extremity Assessment vs. control at post-treatment and at 3-month follow-up; full study readout expected H2 2026.2
  • Platform products span the continuum of care: MindMotion GO (full-body gamified training), MindPod Dolphin, and Izar (IZR) — covering inpatient, outpatient, and home settings with hardware sensors for gait, balance, cognition, and dexterity plus an AI-driven analytics layer.5
  • MindMaze holds FDA clearance and CE/MDR marking across 11 regulatory clearances, a US CMS Category III CPT reimbursement code (0733T/0734T) for home-based digital neurorehabilitation, and a data engine processing >1.2 billion data points per month.3
  • Clinical studies have demonstrated ~7× the therapy doses vs. standard of care across the care continuum; statistically significant improvements in upper limb function (FM-UE mean +6.41), balance (BBS mean +6.07), and functional gait (FGA mean +3.07) reported in home-based trial.6

Footnotes

  1. https://mindmazetherapeutics.com/mindmaze-therapeutics-publishes-2025-annual-report-and-corporate-update/ ↩ ↩2 ↩3

  2. https://www.six-group.com/dam/download/the-swiss-stock-exchange/listing/equity/research-reports/march-26-mindmaze.pdf ↩ ↩2

  3. https://mindmazetherapeutics.com/mindmaze-therapeutics-publishes-2025-annual-report-and-corporate-update/ ↩ ↩2

  4. https://ggba.swiss/en/mindmaze-secures-chf-8-million-to-expand-its-neurotherapeutics-platform/ ↩

  5. https://www.youtube.com/watch?v=OQXfOXvMgeY ↩ ↩2

  6. https://pmc.ncbi.nlm.nih.gov/articles/PMC12270188/ ↩

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