Neural Analytics scores $10M for portable brain monitoring system

Neural Analytics reeled in $10 million to support the commercialization of its portable ultrasound system for the noninvasive diagnosis of brain disorders. The device scored FDA clearance in November.

In 2013, there were 2.8 million emergency room visits, hospitalizations and deaths related to traumatic brain injury (TBI), according to the Centers for Disease Control and Prevention. But TBI symptoms can differ widely, making it hard to diagnose. Neural Analytics’ Lucid System measures blood flow for the quick and accurate diagnosis of brain disorders.

The Lucid System is a battery-operated tablet that uses a type of ultrasound called transcranial Doppler to measure the speed of blood flow through the brain’s blood vessels, the company said. It measures the echoes of ultrasound waves traveling through the skull and can help physicians diagnose brain disorders, potentially without needing invasive tests, the company said when it earned the FDA nod.

Interruptions in blood flow can cause several types of brain disorders, including TBI and stroke. The Lucid device is intended to help first responders and emergency room physicians assess patients early, when it is most important to act quickly.

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The new round, led by Reimagined Ventures, brings Neural Analytics’ total funding to $27 million.

“The additional round of funding will allow Neural Analytics to expand commercialization efforts for the Lucid System both in the U.S. and Europe and continue our ongoing research efforts to achieve earlier diagnosis for brain health conditions,” said CEO Leo Petrossian in the statement.