SINGAPORE –\u00a0Media OutReach<\/a>\u00a0–\u00a025
GyroGear
“In the US alone, the economic burden of Parkinson’s
GyroGear’s
Potential users include those with
“We
Paul Lim, Chairman of Fidelium Group and
\nFebruary 2021 –\u00a0UK-based neuromuscular medical device
\ncompany, GyroGear Ltd<\/a> has just concluded phase one of its seed round fundraise.
\nThis round was led by Foxconn Technology Group, the world’s largest and
\nforemost electronics manufacturer. Foxconn has invested \u00a31 million (US$1.41 million)
\nupfront. Participants in GyroGear’s seed round include the UK Government Future
\nFund, Singapore venture builder Fidelium Group, and other established strategic
\ninvestors and business leaders. Phase two of the seed round is ongoing and
\nscheduled for completion in March 2021.<\/p>\n![](\"https:\/\/release.media-outreach.com\/release.php\/Images\/Thumb\/500x0\/126770\/Picture-11.jpg#image-126770\")
<\/p>\nChairman Young-way Liu (right) and Dr Faii Ong (left) at Foxconn Technology Group, Taipei.<\/span><\/h5>\n
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\nis developing a wearable to help individuals with hand tremors. The wearable
\nreduces tremors, so they may perform their day-to-day activities. This also
\nbrings relief to caregivers and family members.\u00a0<\/p>\n
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\nDisease amounts to $51.9 billion every year, growing to $79.1 billion by 2037. Essential
\nTremor alone is up to 20 times more prevalent than Parkinson’s, and can manifest
\nat any point in one’s life. The impact of not being able to use one’s hands is beyond
\nwhat any numbers can describe. GyroGear was founded to specifically address
\nthis large unmet medical need, and to provide simple, elegant solutions to restore
\nthe quality of life to 200 million tremor patients worldwide,” explains Dr Faii Ong, Founder and CEO of GyroGear.<\/b><\/p>\n
\nDr Ong adds, “Our partnership with Foxconn elevates GyroGear’s existing
\nworld-class engineering and advisory base with further strategic and technical
\nexpertise. It grants GyroGear access to class-leading advanced technologies and
\ncapabilities as we ready our flagship product, the GyroGlove\u2122, for
\ninternational launch.”<\/p>\n
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\nflagship product, the GyroGlove\u2122, is the world’s first and only wearable medical device that adopts
\ncutting edge aerospace technology and satellite-grade mechanical gyroscopes. The technology effectively and
\nswiftly counteracts hand tremors, thus restoring normal use of the hand.
\nLightweight and efficacious, the GyroGlove\u2122 unobtrusively
\nempowers users to overcome their daily challenges, offering hope to the millions
\nof tremor sufferers worldwide who struggle with everyday tasks.<\/p>\n
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\nParkinson’s Disease and Essential Tremor, with both conditions affecting over 200
\nmillion people worldwide. Prevalence of both diseases has been rapidly
\nincreasing this past decade. Current therapies include medication and
\nneurosurgery. Medication is accompanied by significant side effects. Whereas
\nneurosurgery is limited to a small minority of patients due to its inherent
\nrisks. There is currently no cure for hand tremors.<\/p>\n
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\nare eager and excited to partner with GyroGear and bring the GyroGlove\u2122 to
\nAsia. The partnership is another reflection of our long-term commitment to our
\n“3+3=\u221e” vision, which symbolises the infinite possibilities created by
\nFoxconn’s industrial advancement and emerging technologies,” said Young-way Liu, Chairman of
\nFoxconn Technology Group.<\/b><\/p>\n
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\nSenior Advisor to GyroGear Ltd<\/b> added, “GyroGear fills a huge gap in
\ntoday’s medical spectrum. Many tremor patients suffer in silence as the disease
\nrobs them not only of the ability to carry on simple daily activities, but more
\nimportantly, many suffer silently, with mental trauma caused by embarrassment
\nfrom uncontrollable shaking. They avoid going out to public spaces and recluse
\nthemselves from social activities. Founder CEO Dr Faii Ong is a visionary
\nleader who has led his team to invent this elegant solution that will change
\nthe lives of millions of tremor patients in the world.”<\/p>\n
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