Nexeon MedSystems Inc. announced that it has received grant matching funds from the Puerto Rico Science, Technology, and Research Trust (“Trust”). The National Institute of Neurological Disorders and Stroke (NINDS) of the National Institutes of Health (NIH) recently awarded a $830,000 grant to Nexeon’s wholly-owned subsidiary, Nexeon MedSystems Puerto Rico Operations Corporation (“NMPROC”, “Nexeon PR”, or “the Company”). The funding will go to support the development of novel cloud-based software to improve programming for deep brain stimulation. The NINDS intends to fund $1.5 million over 3 years, subject to annual review and approval, with the remaining funds directed towards clinical evaluation of the software’s performance. The Trust provided an initial grant match of $50,000 with an additional $50,000 to be provided over the next 12 months conditional on continued progress towards the grant milestones. The matching funds will support creating and maintaining jobs for research and development of medical devices in Puerto Rico.