Aclarion Announces Non-Convertible Debt Financing to Achieve Three Critical Catalysts

Up to $2M Unsecured, Non-Convertible Bridge Debt With No Required Amortization Payments

Financing Supports Execution of the 2023 Plan and the Achievement of Critical Milestones in Support of Definitive Growth Capital

BROOMFIELD, CO, May 19, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Aclarion, Inc., (“Aclarion” or the “Company”) (Nasdaq: ACON, ACONW), a healthcare technology company that is leveraging biomarkers and proprietary augmented intelligence algorithms to help physicians identify the location of chronic low back pain, announced today the closing of up to a $2M unsecured, non-convertible debt financing that allows the Company to continue executing on its 2023 plan while providing the runway to achieve three critical milestones ahead of securing definitive growth capital.

Brent Ness, CEO of Aclarion, said, “We have been executing really well on multiple fronts. We have had great success building a strong KOL team, publishing critical 2-year follow on data highlighting the value of our technology in supporting better surgical outcomes for back pain, and in quantifying the significant economic savings associated with the better surgical outcomes we help drive. It is an exciting time for the company as we are on the cusp of completing three critical milestones that are key catalysts for growth. First, we are completing full enrollment of our initial KOL panel consisting of 10 leading spine surgeons this quarter. Second, the first MRI center associated with our KOLs is coming online in Q3, with the remaining MRI activations targeted to be completed in the first half of 2024. Third, we expect to be sending our first Category III CPT codes to commercial payers, also in Q3. This is a huge step forward as it marks the beginning of our commercialization playbook aimed at establishing Nociscan as a Standard of Care clinical support tool in the diagnosis and treatment of chronic discogenic low back pain. The announced financing gives us the runway we need to drive these key catalysts and better position us for definitive growth capital.”

Globally, 266 million people suffer from degenerative spine disease and low back pain. Aclarion’s Nociscan solution is the first evidence-supported SaaS platform to noninvasively help physicians distinguish between painful and nonpainful discs in the lumbar spine. Nociscan objectively quantifies chemical biomarkers demonstrated to be associated with disc pain. Biomarker data is entered into proprietary algorithms to highlight if a disc may be a source of pain. When used with other diagnostic tools, Nociscan provides critical insights into the location of a patient’s low back pain, giving physicians clarity to optimize treatment strategies.