Neural Analytics raises US$10 million in new funding round


Neural Analytics, a medical device company developing and commercialising technology to measure, diagnose and track brain health, announced today that it has raised US$10 million in a new round of financing led by Reimagined Ventures.

The investment brings Neural Analytics’ total funding to US$27 million. Ted Koutouzis of Reimagined Ventures will join Neural Analytics’ Board of Directors.

“The additional round of funding will allow Neural Analytics to expand commercialisation efforts for the Lucid System both in the USA and Europe and continue our ongoing research efforts to achieve earlier diagnosis for brain health conditions,” says Leo Petrossian, chief executive officer of Neural Analytics.

The Lucid M1 Transcranial Doppler Ultrasound System (Lucid System) has received both FDA clearance and CE Mark approval. The Lucid System is an all-in-one ultrasound system designed for measuring and displaying cerebral blood flow velocities and monitoring of patients with brain disorders. The Lucid System is currently available in the USA and Europe.

The company is also conducting a feasibility study with the Erlanger Health System in Chattanooga, USA to evaluate the Lucid System for patients suffering an acute ischaemic stroke.