Inspired by the results of the first trial and the possibility of two very significant neuromodulation methods, the Foundation was motivated to accelerate its work. The prize of completing its mission and finding cures for spinal cord injury now seemed even more possible. The Foundation creatively turned to private business for help in bringing a commercially viable cure to the millions impacted by SCI. According to Wilderotter, The Foundation turned to Presidio Partners and jointly created a new entity, which formed NeuroRecovery Technologies (NRT) in November of 2016.
According to the Presidio Partners website, “NeuroRecovery Technologies is a new, cutting-edge medical technology company focused on the design and development of devices and applications to help restore function & movement in patients with paralysis. Our current technology evolved from collaborative research between The University of California Los Angeles, The California Institute of Technology, and The University of Louisville.
NeuroRecovery Technologies is dedicated to developing disease and injury specific devices to help restore optimal physiological function to damaged neural circuits and their target end points. Our goal is to commercialize and make readily available new technological advancements in medical devices, complemented by good clinical practices, which bring about the recovery of neuromotor and sensory function of the brain and spinal cord.” SEC filings show NRT was funded as the Reeve Foundation – Presidio Partners NRT, L.P. and formed in 2016. It is owned by the Foundation through a special purpose vehicle (SPV) that enables the Foundation to maintain its not-for-profit status. Initial funding was for $2.460 million yet Wilderotter said Reeve funding has increased to over $ 4million with a goal of $8 million by mid 2018.