Control Bionics Secures $0.6M to Boost Neurotech Expansion
Control Bionics has successfully raised $0.6 million through a shortfall placement, reinforcing investor confidence as it accelerates commercialisation of its neurotechnology in assistive communication and emerging sports markets.
- Raised $0.6 million via shortfall placement after rights issue
- Strong support from new and existing shareholders
- Funds to accelerate commercialisation of NeuroNode and NeuroStrip
- Focus on assistive technology and expansion into sports and rehabilitation
- Shares expected to be issued on 31 October 2025
Capital Raise Signals Confidence
Control Bionics Limited (ASX – CBL) has completed a $0.6 million shortfall placement following its recent Non-Renounceable Rights Issue, a move that underscores robust shareholder backing. Both new and existing investors participated, signaling continued faith in the company’s strategic direction and growth potential.
The funds raised will bolster Control Bionics’ working capital, enabling the company to accelerate commercialisation efforts around its core neurotechnology products. This capital injection arrives at a pivotal moment as the company seeks to expand beyond its established assistive communication devices into the promising sports and rehabilitation sectors.
Innovating Communication and Beyond
At the heart of Control Bionics’ technology is the patented NeuroNode, a wireless wearable device that translates subtle brain signals into computer commands, empowering patients with conditions like Motor Neurone Disease and ALS to communicate more effectively. The company’s unique integration of touch, eye gaze, and NeuroNode control offers a faster, less fatiguing user experience.
Building on this foundation, Control Bionics is commercialising its latest innovation, the NeuroStrip, a miniaturised electromyography (EMG) device designed to tap into new markets such as health diagnostics, sports performance, and rehabilitation. This diversification strategy is further supported by the company’s 22% stake in Neuro Elite Athletics, which is driving the NeuroBounce program in the US and Australia.
Strategic Outlook and Market Reach
Operating across North America, Australia, Singapore, and Japan, Control Bionics is positioning itself as a leader in neurotechnology applications that extend well beyond medical devices. CEO Jeremy Steele highlighted that the additional funding strengthens the company’s balance sheet and supports growth in both core and emerging markets.
The shortfall placement shares are expected to be issued on 31 October 2025, with Lynx Advisors acting as Lead Manager and receiving a 6% fee plus GST. This successful capital raise not only provides immediate financial support but also serves as a vote of confidence in Control Bionics’ innovative approach and market potential.
Bottom Line?
With fresh capital secured, Control Bionics is set to accelerate its neurotechnology rollout, but investors will watch closely for commercial milestones and market traction.
Questions in the middle?
- How quickly will the NeuroStrip penetrate the sports and rehabilitation markets?
- What commercial milestones can investors expect following the share issuance?
- How will the company balance growth in assistive technology with expansion into new sectors?