What You Should Know:
– GrayMatters Health (GMH), a company set to change the standards of mental health care with biomarker-based therapeutics, beginning with PTSD raises $10 million in Series A funding round led by Otsuka Medical Devices Co., Ltd., bringing total funding to $13.5 million. Additional investors in the Series A round included Joy Ventures, J-Ventures, and J-Impact. Existing GMH investors, Marius Nacht and Joyance Ventures, also participated in the round.
– GMH develops digital self-neuromodulation therapeutics for mental disorders to help patients regain agency over their emotion regulation.
Developing Biomarker-Based PTSD Therapeutics
About 250 million people worldwide live with PTSD, yet treatments are lacking and often lead to many side effects that may last a lifetime. Prism for PTSD, GMH’s first offering, is under clinical investigation in five sites across the United States and Israel, with a potential to serve as an adjunct for standard of care therapy. Prism helps patients regain agency over their emotion regulation. Prism is a non-invasive adjunct digital therapeutic that utilizes novel neuroscience-based and brain-mechanism-specific biomarkers. GMH is the first to use machine learning technology to create an Electrical-Finger-Print (EFP) of brain-mechanism-specific biomarkers that are utilized in its proprietary treatment of mental disorders, training patients to employ self neuro-modulation techniques using an interactive audio-visual software.
Fusing Electroencephalogram and functional Magnetic Resonance Imaging data, Prism for PTSD produces a continuous, real-time, and accessible amygdala-EFP biomarker. During treatment sessions, an audio-visual interface responds as patients use self-neuromodulation techniques to downregulate their amygdala-EFP biomarker. The company plans to evaluate the clinical efficacy and safety of Prism for additional mental disorder indications including MDD, Attention Deficit Hyperactivity Disorder, General Anxiety Disorder, Obsessive Compulsive Disorder, and Borderline Personality Disorder.
“GrayMatters is introducing the first digital therapeutic device that directly targets and regulates specific brain biomarkers associated with mental disorders, whereas digitizing existing therapy methods focus on mitigating the resulting symptoms and behaviors,” said Oded Kraft, GrayMatters Health Co-Founder and CEO. “This funding round will help GrayMatters Health complete its clinical investigation, obtain clearance from regulatory authorities, and launch Prism for PTSD in the United States. It also supports our collaboration with McLean Hospital, the largest psychiatric affiliate of Harvard Medical School and a member of Mass General Brigham. Together we plan to conduct a clinical investigation to determine Prism’s efficacy and safety as an adjunct treatment for Major Depressive Disorder (MDD) with anhedonia.”