Performance Sports Group Ltd. acquired an exclusive perpetual, worldwide license from Q30 Sports, LLC to use its patent and technology assets in the development of products intended to address mild traumatic brain injury (mTBI) in sports and athletic activities.
Performance Sports Group acquired the license to the applicable patent and technology assets for U.S. $7.0 million with future payments of up to U.S. $18.0 million if certain product development and sales milestones are achieved. Performance Sports Group also made a $1.0 million equity investment in Q30 Sports' parent company, Q30 Sports Science, LLC.
Q30's technology and supporting science have shown a reduction in indicators of mTBI in both animal and human studies. Performance Sports Group and Q30 have initiated the process of bringing this promising technology to the marketplace with both the United States Food & Drug Administration (FDA) and Health Canada.
“In scientific studies, the technology developed by Q30 has been effective at reducing mild traumatic brain injury and, as a leading manufacturer of protective sports equipment, we believe it is our obligation to do everything we can to help bring this exciting new technology to athletes,” said Kevin Davis, chief executive officer, Performance Sports Group. “There is more research that needs to be done, but this technology — and the wealth of knowledge and science behind it — could mark an important step forward in addressing this important issue of player safety.”
The Q30 technology is based on biologically-inspired discovery and backed by leading medical experts. It is the first technology that attempts to reduce mTBI internally by using the body's physiology rather than through the use of external protections, such as helmets.
“In our opinion, mTBI is the single biggest problem plaguing the sports world today,” said Tom Hoey, co-chief executive officer, Q30 Sports Science. “At Q30, we've made great progress in researching ways to reduce the incidence of mTBI, working hand-in-hand with leading medical professionals and institutions. This partnership with Performance Sports Group is an exciting development in our shared mission of protecting athletes around the world.”
Dr. Julian Bailes, chairman of the department of neurosurgery and co-director of the NorthShore University HealthSystem Neurological Institute; Dr. Joseph Fisher, senior scientist, Toronto General Research Institute; and Dr. David Smith, visiting scientist, Cincinnati Children's Hospital and Medical Center identified the “slosh effect” as a key cause of mTBI. “Slosh” is the movement of the brain, which is floating in cerebrospinal fluid inside the skull. When the head receives an impact or experiences sudden, extreme movement, the brain sloshes inside the skull and can impact the walls of the cranium, often times tearing brain fibers. The result of these impacts can produce mTBI.
Rather than focusing on developing external protective equipment to address the slosh effect, Bailes, Fisher and Smith became the first researchers to address the incidence of mTBI by using the body's physiology. The researchers have developed a simple device that athletes can comfortably wear, which mildly increases blood volume in the cranium to reduce the slosh effect. In two separate peer-reviewed research studies conducted on small animals, which were published in the medical journals Neurosurgery and Journal of Neurosurgery, respectively, the researchers found an 83 percent reduction in the number of torn fibers in a standard concussion model when the device was utilized.
“This is the first solution to address mTBI from inside the skull,” said Bailes, a founding member of the Brain Injury Research Institute who is profiled in an upcoming major motion picture for his work to identify Chronic Traumatic Encephalopathy (CTE) in former professional football players. “By increasing the volume of blood in the cranial cavity, there's less room for the brain to move which reduces the overall slosh effect and reduces mTBI. The research results are very encouraging and we are excited to work with Performance Sports Group to continue the important research and bring this technology to market.”
