MindWeavers to launch software to improve brain function
21 August 2007 MindWeavers, a spin-out company from the University of
Oxford, is launching a series of 'brain exercise' computer game products
after securing £558,000 of new investment capital.
MindWeavers has also converted to plc status in anticipation of a planned
listing on the PLUS Markets that will see the Company seeking to raise an
additional £1 million. The company creates and sells software that
exercises specific areas of the brain to improve human performance ‘by
design’. The Company’s software is based on research that has shown that the
neural systems in the brain are ‘plastic’ and malleable throughout life, and
that effective instruction can alter brain function. In particular,
breakthroughs in neuroscience have led to a new understanding of how the
brain learns language. MindWeavers’ Phonomena product is designed to
enhance the neural pathways that process sounds and has been proven to
dramatically improve the language skills of children suffering from
dyslexia.
MindWeavers is extending its software range into brain health products
and in September will launch MindFit, the first in a series of ‘brain
exercise’ computer game products, targeted at ‘baby boomers’ wishing to keep
their minds active in order to slow, delay and protect against the effects
of ageing. This move into the adult brain health market follows the
Company’s acquisition of BrainBoost, a business which develops software to
protect against cognitive decline, founded by Baroness Susan Greenfield,
world expert in neuro-development and degeneration. Chief Executive, Bruce
Robinson, said: “We are delighted with the success of the fundraising, which
exceeded our expectations and bodes well for our anticipated admission to
the PLUS Markets. The new funding will enable us to exploit wider
opportunities for our brain training software. “Phonomena currently
provides support for children with language-based learning difficulties. We
will now be developing additional versions of Phonomena aimed at parents who
are concerned that their children are falling behind at school or who simply
want to give their children the best start in life.” MindWeavers is also
exploring opportunities for specific versions of Phonomena in the emerging
field of auditory processing disorder, for which the current product is
being recommended by Great Ormond Street Hospital, and with cochlear implant
users who have reported dramatic improvements in their hearing after using
Phonomena. Mr Robinson commented on plans for MindFit: “We are finalising
plans to launch MindFit, an innovative brain exercise product, onto the UK
market in early September. MindFit has been developed by our partners,
CogniFit, with whom we have signed an exclusive distribution agreement, and
carries the endorsement of Baroness Greenfield. It assesses, trains and has
been proven to improve a range of abilities known to decline with age. “We
are also currently undertaking a clinical study of the MindWorks software we
developed jointly with CogniFit, which aims to protect brain health in
patients who have been diagnosed with mild cognitive impairment and early
Alzheimer’s.” To top
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