Neural Analytics, Inc., a Los Angeles, CA-based medical robotics company developing and commercializing technologies to measure and track brain health has raised $22 million in Series C funding led by Alpha Edison and the Company has also issued warrants to purchase stock in connection to the financing. The investment brings Neural Analytics’ total funding to approximately $66 million.
Impact of Neurological Diseases
Neurological diseases such as stroke affects more than 795,000 people each year in the U.S. Nearly 200,000 of these strokes are considered to be cryptogenic, or of unknown mechanism. Patent Foramen Ovale (PFO), a form of right-to-left shunt affecting 1 in 4 people, is known as a risk factor for ischemic stroke and is commonly screened in patients with cryptogenic stroke. Incorrect assessment of stroke leads to misdiagnosis and treatment delays, resulting in death or disability for patients.
Robotically Assisted Ultrasound System for Brain Health Assessment
Founded in 2013, Lucid Robotic System (Lucid™ M1 Transcranial Doppler Ultrasound System and NeuralBot™ System) is a robotically assisted ultrasound system for brain health assessment. It combines an all-in-one neurovascular ultrasound device, designed to non-invasively measure and display brain blood flow information under the guidance of a healthcare professional.
The company’s technology integrates ultrasound, robotics and machine learning to empower neurologists with critical information about brain health to make clinical decisions and improve patient outcomes. The Lucid Robotic System is currently active at select centers around the United States and Neural Analytics will continue to expand its commercialization.
This announcement follows Neural Analytics’ recent enrollment of their first patients into the CODEX Study, a prospective, single-arm, global multi-center study using an investigational iteration of the Lucid Robotic System, that aims to further explore the technical feasibility of this technology in a wider range of patients and neurological pathologies where monitoring of brain blood flow data would be of benefit in the assessment of neurological diseases.
“Over the past six years we have worked very hard to develop and validate new technologies into impactful products. Though the culmination of years of our work into U.S. FDA clearance & European CE mark was a meaningful milestone in 2018, it was only the start of our journey. With this financing Neural Analytics will be able to launch the Lucid Robotic System into clinical environments where it will have the greatest impact on patient outcomes,” said Leo Petrossian, Ph.D., Co-Founder and Chief Executive Officer of Neural Analytics.