Jan Medical says it pulled in a new Series B funding round from Germany's Brainlab, a previous investor. That money will propel the company's efforts to reach the U.S. regulatory finish line with a brain-monitoring system designed to help spot problems that can lead to ischemic strokes and concussions.
Jan, which is based in Mountain View, CA, did not disclose the exact amount of the new funding round. The cash infusion is reportedly under $5 million but above the $3.15 million Series A funding round led by Brainlab in June 2011. As part of the new investment, Jan and Brainlab are also beefing up their collaborative work on the brain-sensing product, dubbed Nautilus NeuroWave. Initial focus has been on detecting brain bleeding that can lead to strokes, but the company is also exploring use of its technology to track and monitor a patient's recovery from sports-related concussion.
Paul Lovoi, Jan Medical's president and CEO, said in a statement that he sees the new funding as especially validating for the company's Nautilus NeuroWave product considering that venture funding for devices and diagnostics has remained depressed. And Nautilus, he added, is poised to help spot problems sooner and manage patient costs better in the process by detecting "cerebral abnormalities" where conventional imaging technology can't at the same level of precision.
"Patient outcomes will be enhanced, as healthcare providers will have clinically relevant and timely information to treat their patients faster, at lower cost and with less risk," Lovoi said.
Jan is smart to partner with Brainlab, a Munich developer of image-guided surgical technology focused on neurosurgery, radiation oncology, orthopedics, ENT, CMF, spine and trauma. The company employs more than 1,120 people and has a global reach, and its continued stake in Jan Medical will be interesting to watch as the company advances.
As part of the new investment, Brainlab is adding a member to Jan's Medical Board of Directors.
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