Aclarion plans to launch CLARITY trial, provides update on Alphatec partnership

Aclarion (ACON) has completed several recent financing transactions that have significantly reduced debt and increased available cash. The Company believes these financing transactions will assist in achieving key milestones that include initiating the CLARITY trial, onboarding additional KOL surgeons through the strategic partnership with Alphatec (ATEC), and continuing to increase Nociscan orders. The financing transactions include raising just under $3M of gross proceeds under the previously disclosed $10M equity line and reducing the Company’s outstanding non-convertible debt by $1.5M through the conversion of debt into equity. The Company believes these recent financing transactions were on terms more favorable than those available in the public capital markets. With these proceeds, Aclarion will initiate CLARITY, a prospective, multicenter, randomized clinical trial designed to validate the superior surgical outcomes that have been shown to result when surgical interventions are targeted against intervertebral discs identified to be painful by Nociscan technology. CLARITY is expected to enroll up to 300 patients across approximately 8 sites with Nicholas Theodore, MD, FACS, FAANS, Director of the Neurosurgical Spine Center and Professor of Neurosurgery, Orthopedics, and Biomedical Engineering at Johns Hopkins, serving as principal investigator. The Company is also advancing through the first phases of the Alphatec strategic partnership. Aclarion and Alphatec leadership are in the process of identifying 5 KOL surgeons who are currently using Alphatec’s AlphaInformatiX platform and want to add Nociscan data to their preprocedural planning and surgical decisioning process. The Company expects to add 5 new KOLs to the Nociscan network in the first half of 2024.