BrainScope Company, Inc., a Bethesda, Md.-based medical neurotechnology company which created the first FDA-cleared handheld medical device for assessment of the full spectrum of traumatic brain injury, completed a $16m equity financing.
Backers included new investor DBL Partners, previous backers Revolution LLC, ZG Ventures, Maryland Venture Fund and others. In conjunction with the funding, Cynthia Ringo, Senior Partner at DBL Partners, will join BrainScope’s Board of Directors.
The company will use to funds to support the commercial launch of its flagship BrainScope One medical device, as well as for continued research and development initiatives.
Led by Michael Singer, CEO, BrainScope provides BrainScope One, an FDA-cleared medical device for rapid, objective assessment of mildly presenting adult head injured patients at the point of care for up to three days following injury, and is designed to help the clinician assess the full spectrum of brain injury, including whether a patient has structural brain injury visible on CT, as well as whether a patient has functional brain injury, including concussion.
BrainScope One is available to a cross-section of market segments including urgent care clinics, occupational health clinics, hospital emergency rooms, university and professional sports, and the U.S. military and government.