ACON | Market Cap: $6.6M (07/13/26)
Industry:
Healthcare Equipment, Supplies, & Technology

DESCRIPTION

Aclarion is a small healthcare technology company focused on improving the diagnosis of chronic discogenic low back pain (DLBP), which is pain caused by damaged or degenerated spinal discs. Aclarion's core product is NOCISCAN, a software platform that uses Magnetic Resonance Spectroscopy (MRS) to non-invasively identify which spinal discs are generating a patient's pain. NOCISCAN adds roughly 30 minutes to a standard MRI exam, during which MRS captures the chemical composition of each disc. Aclarion's software then processes that data to produce a "Nocigram" report, classifying each disc as pain-generating or not, which physicians use to plan surgery or other treatments. Aclarion charges for this service, which includes data acquisition, secure transfer to Aclarion's cloud platform, processing, and delivery of the Nocigram report to the ordering physician. Revenue today is limited, driven primarily by direct patient payments and limited third-party insurance reimbursement, mostly in the UK. The critical commercial hurdle is converting temporary Category III CPT billing codes to permanent Category I codes, which would enable widespread insurance billing and drive adoption. Currently, NOCISCAN is compatible only with certain Siemens and Philips MRI scanner models. Aclarion pays a 4% royalty on net sales to UCSF, which holds the underlying biomarker patents exclusively licensed to Aclarion. Key growth initiatives include building clinical evidence through the CLARITY Trial, securing payer contracts in major U.S. metro markets, expanding scanner compatibility, and broadening clinical indications beyond surgical decision-making into conservative and regenerative therapies.

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