Neural Analytics has raised $15 million in financing to further its efforts to develop and commercialize technology that is able to measure, diagnose and track potential medical problems in the brain.
The Los Angeles-based company raised the funding through lead efforts of Alpha Edison, an early stage venture firm that partners with entrepreneurs to build new technology platforms, says Leo Petrossian, CEO
Neural Analytics is developing products and services to measure, diagnose and track brain health, currently focusing efforts on imaging and other technology to treat acute ischemic stroke, traumatic brain injury and dementia. Its tools combine data science with hardware to enable first responders and clinicians to assess and monitor brain health issues.
Neural Analytics’ Lucid Transcranial Doppler Ultrasound System (Lucid System) uses ultrasound to assess the brain’s blood vessels from outside the body. This analysis is non-invasive, can be performed in the physician’s office and helps the physician diagnose brain disorders. The system is FDA-cleared for the monitoring of blood flow velocities in the cerebral vasculature.
The Lucid System is a battery-operated tablet device designed to be transported easily throughout a medical facility; it can be used in a variety of clinical scenarios that require the rapid assessment of blood flow in the brain to expedite treatment, Petrossian explains.
The funding follows the recent decision by the Department of Defense to award Neural Analytics a $10 million contract to develop and supply a portable, point-of-injury device for assessing combat-related traumatic brain injury.
In addition, the company announced in November the positive results of a test of its technologies to assess the approach’s accuracy in measuring cerebral blood flow in patients with large vessel occlusion, a key cause of acute ischemic stroke. Its Lucid System is capable of measuring and displaying LVO with 91 percent sensitivity and 85 percent specificity, compared with the current standard of care in using traditional imaging in persons suspected of having a stroke.
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