Jan Medical has secured US$7.5 million in series C funding from Brainlab. This funding will be used to complete ongoing clinical trials and filing of product de novo with the FDA, as well as funding CE mark registration in the EU, for BrainPulse.
This product is a new diagnostic tool designed to rapidly and reliably help detect abnormal neurological conditions including concussion and stroke.
“With growing public awareness and concern about concussions, Brainlab is excited to invest in a partner that will provide medical professionals and athletic trainers with the tools to help accurately diagnose concussions,” states Joseph Doyle, chief financial officer, Brainlab. “This is an important and innovative product that allows us to expand our expertise in neurological diagnostic tools.”
The BrainPulse device is designed to capture a novel, non-invasive, physiological signal that utilises the cardiac output to measure vasculature and brain tissue conditions. The BrainPulse data has the potential to significantly impact non-invasive neurodiagnostics and provide a clinically relevant ’aid to diagnoses’ for a range of indications, including concussion and stroke.
The BrainPulse data has been shown to detect and longitudinally observe sports-related concussion in a clinical trial at Stanford University, reported in the Clinical Journal of Sport Medicine. In another early trial published by Neurocritical Care, the device detected vasospasm with clinically meaningful accuracy at the University of California San Francisco (UCSF). Additional clinical trials in concussion detection and vasospasm are ongoing.
“This series C funding further validates the potential of the BrainPulse device, as we accelerate our regulatory clearances and prepare for market launch,” adds Paul Lovoi, PhD, president and chief executive officer of Jan Medical. “We are fortunate to collaborate with such an exciting, passionate team from a leading neuroscience company.”
In addition to the series C funding, Brainlab will provide resources to assist in ongoing clinical research, regulatory filing and commercialisation activities for Jan Medical, as well as expertise in research and development. Ken Bruener, Vice President of Marketing and Business Development, Brainlab, will become the Brainlab representative on the Jan Medical Board of Directors.