HOUSTON, TX, July 18, 2024 (GLOBE NEWSWIRE) -- Nexalin Technology, Inc. (Nasdaq: NXL; NXLIW) (the “Company” or “Nexalin”) today announced that it has been selected to serve as a founding member of Breaking Barriers to Substance Use Recovery, a coalition of major industry participants and preeminent healthcare providers.
Established as a tax-exempt organization, Breaking Barriers to Substance Use Recovery is focused on identifying and dismantling the obstacles to effective treatment for opioid use disorder. Breaking Barriers to Substance Use Recovery brings together bringing together a broad cross section of leaders in the medical and science and technology industries to develop and formulate pioneering and innovative solutions to combat the opioid crisis. The organization also advocates for the adoption of comprehensive policy solutions in support of its critical life-saving objectives and raises public awareness through education campaigns.
Breaking Barriers to Substance Use Recovery is a pioneering 501(c)(4) organization dedicated to identifying and dismantling the obstacles to effective treatment for opioid use disorder through advocacy, especially in veteran and rural communities across the United States, for policy solutions and public educational campaigns that support these critical life-saving objectives.
Nexalin anticipates partnering with the organization in deploying its neurostimulation technologies for the purpose of furthering the objectives of providing an accessible and innovative form of treatment for those in-need and swept up by the current pervasive epidemic. Nexalin also hopes to promote and strengthen the engagement of the organization with U.S. government agencies tasked with addressing the ongoing opioid crisis.
Mark White, CEO of Nexalin, participated in the inaugural founding meeting of Breaking Barriers to Substance Use Recovery, hosted in Washington D.C. at the end of June in 2024.
The organization’s other founding members took part in the meeting, and include:
The meeting featured discussions on the latest research, treatment methodologies, and technological advancements in the field, as well as an in-depth policy analysis of transformational ongoing legislative opportunities that seek to expand access to opioid treatment.
“Today marks a crucial step in our journey to combat opioid addiction,” said Peter Gratale. “Our collective expertise and commitment will drive us to uncover the root causes of barriers to treatment and to promote policies and practices that support recovery and save lives.”
“We are honored to join the Breaking Barriers to Substance Use Recovery initiative to help solve the very important substance use addiction problem affecting over 20 million of people in the U.S. alone,” stated Mark White, CEO of Nexalin Technology. “This partnership signals a growing acknowledgment of the crucial role that our innovative neurostimulation technologies can play to effectively treat patients with mental health diseases in a pain-free and undetectable manner. We look forward to working with fellow players in the healthcare industry to lead the way towards tackling the global opioid epidemic.”
Organization’s Advocacy for Virtual-Based Opioid Treatment
A key focus of Breaking Barriers to Substance Use Recovery includes advocacy for 21st century solutions to the opioid crisis, including an expansion of Virtual-Based Opioid Treatment (VBOT), a tested treatment model that can dramatically combat traditional barriers to treatment. The organization endeavors to create a model utilizing innovative virtual technologies and services, providing more accessible, cost-effective, and comprehensive care options for those struggling with opioid use disorder (OUD), especially veterans and those in rural areas. Breaking Barriers looks to also advocate for emerging technologies and therapeutic techniques that can be coupled with VBOT while harnessing AI and data-driven methodologies that provide new insights into treatment success and compliance.
“VBOT offers a revolutionary approach to overcoming barriers such as geographic limitations and stigma,” said David Reeser, CEO of OpiAID, Inc. “Our goal is to harness these technologies to ensure everyone has access to the help they need, regardless of their circumstances.”
As Breaking Barriers to Substance Use Recovery moves forward, the organization plans to engage nationwide with policymakers, healthcare providers, and community leaders to implement evidence-based solutions and advocate for necessary changes in legislation and healthcare practices.
For more information about Breaking Barriers to Substance Use Recovery and its initiatives, please contact:
Breaking Barriers to Substance Use Recovery
12 North 5th Avenue
Wilmington, NC 28401
Phone: (xxx) xxx-1234
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: [www.nomorebarriers.org]
About Nexalin Technology, Inc.
Nexalin designs and develops innovative neurostimulation products to uniquely help combat the ongoing global mental health epidemic. All of Nexalin’s products are believed to be non-invasive and undetectable to the human body and are developed to provide relief to those afflicted with mental health issues. Nexalin utilizes bioelectronic medical technology to treat mental health issues. Nexalin believes its neurostimulation medical devices can penetrate structures deep in the mid-brain that are associated with mental health disorders. Nexalin believes the deeper-penetrating waveform in its next-generation devices will generate enhanced patient response without any adverse side effects. The Nexalin Gen-2 15 milliamp neurostimulation device has been approved in China, Brazil, and Oman. Additional information about the Company is available at: https://nexalin.com/.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements,” These statements relate to future events or Nexalin’s future financial performance. Any statements that refer to expectations, projections or other characterizations of future events or circumstances or that are not statements of historical fact (including without limitation statements to the effect that Nexalin or its management “believes”, “expects”, “anticipates”, “plans”, “intends” and similar expressions) should be considered forward looking statements that involve risks and uncertainties which could cause actual events or Nexalin’s actual results to differ materially from those indicated by the forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Report on Form 10-K for the year ended December 31, 2023 and other filings as filed with the Securities and Exchange Commission. Copies of such filings are available on the SEC’s website, www.sec.gov. Such forward-looking statements are made as of the date hereof and may become outdated over time. Such forward-looking statements are made as of the date hereof and may become outdated over time. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact:
Crescendo Communications, LLC
Tel: (212) 671-1020
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
| Last Trade: | US$2.63 |
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| Daily Volume: | 888,157 |
| Market Cap: | US$33.820M |
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