Jan Medical Secures $7.5 Million in Series C Funding From Brainlab, Inc.
Funding to support product development, clinical trials for portable, non-invasive brain diagnostic tool for abnormal neurological conditions, including concussion and stroke
Brainlab invests $7.5 million in Jan Medical for BrainPulse, a new diagnostic tool designed to rapidly and reliably help detect abnormal neurological conditions including concussion and stroke.
January 25, 2016 08:00 AM Eastern Standard Time
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Jan Medical, a privately held, emerging medical technology company, announced today that it has secured $7.5 million in Series C funding from Brainlab, Inc., a global leader in medical technology. Funds will be used to complete ongoing clinical trials and filing of product de novo with the FDA and CE Mark registration in the EU for BrainPulse™ a new diagnostic tool designed to rapidly and reliably help detect abnormal neurological conditions including concussion and stroke.
"This Series C funding further validates the potential of the BrainPulse device, as we accelerate our regulatory clearances and prepare for market launch"
"With growing public awareness and concern about concussions, Brainlab is excited to invest in a partner that will provide medical professionals and athletic trainers with the tools to help accurately diagnose concussions," stated Joseph Doyle, Chief Financial Officer, Brainlab. "This is an important and innovative product that allows us to expand our expertise in neurological diagnostic tools."
The BrainPulse device captures a novel, non-invasive, physiological signal that utilizes the cardiac output to measure vasculature and brain tissue conditions. The BrainPulse data has the potential to significantly impact non-invasive neurodiagnostics and provide a clinically relevant 'aid to diagnoses' for a range of indications, including concussion and stroke.
The BrainPulse data has been shown to detect and longitudinally observe sports-related concussion in a clinical trial at Stanford University, reported in the Clinical Journal of Sport Medicine1. In another early trial published by Neurocritical Care, the device detected vasospasm with clinically meaningful accuracy at the University of California San Francisco (UCSF)2. Additional clinical trials in concussion detection and vasospasm are ongoing.
"This Series C funding further validates the potential of the BrainPulse device, as we accelerate our regulatory clearances and prepare for market launch," added Paul Lovoi, PhD, President and CEO of Jan Medical. "We are fortunate to collaborate with such an exciting, passionate team from a leading neuroscience company."
In addition to the Series C funding, Brainlab will provide resources to assist in ongoing clinical research, regulatory filing and commercialization activities for Jan Medical, as well as expertise in research and development. Ken Bruener, Vice President of Marketing and Business Development, Brainlab, will become the Brainlab representative on the Jan Medical Board of Directors.
Brainlab, headquartered in Munich, develops, manufactures and markets software-driven medical technology, enabling access to advanced, less invasive patient treatments.
Core products center on information-guided surgery, radiosurgery, precision radiation therapy, digital operating room integration, and information and knowledge exchange. Brainlab technology powers treatments in radiosurgery and radiotherapy as well as numerous surgical fields including neurosurgery, orthopedic, ENT, CMF, spine and trauma.
Privately held since its formation in Munich, Germany in 1989, Brainlab has more than 9,000 systems installed in about 100 countries. Brainlab employs 1,300 people in 19 offices worldwide, including 320 Research & Development engineers, who form a crucial part of the product development team.
To learn more, visit www.brainlab.com.
About Jan Medical
Jan Medical is a privately held, emerging medical technology company that has developed a novel, non-invasive, portable brain sensing system designed as a rapid aid to help diagnose abnormal neurological conditions such as concussion and stroke. To learn more, visit www.janmedical.com.
CAUTION: THE JAN MEDICAL BRAINPULSE SYSTEM IS AN INVESTIGATIONAL DEVICE, LIMITED BY FEDERAL (UNITED STATES) LAW TO INVESTIGATIONAL USE; BRAINPULSE HAS NOT RECEIVED FDA CLEARANCE AND IS NOT COMMERCIALLY AVAILABLE.
1 Auerbach PS, Baine JG, Schott ML, et al. Detection of Concussion Using Cranial Accelerometry. Clin J Sport Med. 2015;25:126-32.
2 Smith WS, Browne JL, Ko NU. Cranial Accelerometry Can Detect Cerebral Vasospasm Caused by Subarachnoid Hemorrhage. Neurocritical Care. 2015;23:364-9.
Ann Marie LaCasha, + 1 708-476-4511
Director of Corporate Marketing