Epitel, Inc., a Salt Like City, UT-based digital health company developing a wearable, wireless EEG monitoring platform for seizure detection, closed a $12.5m Series A financing.
Catalyst Health Ventures (CHV) and Genoa Ventures co-led the Series A financing along with participation from Dexcom and OSF Ventures. Wavemaker 360, MedMountain Ventures and Salt Lake City Angels also participated in the round. In conjunction with this close, Vikram Chaudhery, Ph.D., of Genoa Ventures, and Joshua Phillips of CHV have been appointed to the Board of Directors. Andy Rasdal, founding CEO of Dexcom, and Kim Kamdar, Ph.D., of Domain Associates join the board as Executive Chairman and Independent Director respectively. Prior to Series A, Epitel has been primarily grant-backed with funding from the NIH and Epilepsy Foundation totaling over $7.5m.
The company intends to use the funds for initial pilot commercialization and further development of its proprietary platform.
Led by Mark Lehmkuhle, Ph.D., Chief Executive Officer, Epitel is a digital health company developing a wearable, wireless EEG monitoring platform. The company received FDA clearance for its first product, a wireless and wearable EEG (brain wave monitor) sensor, and remote access software known as REMI® for use within hospital emergency rooms and critical care units. REMI first received clearance from the U.S. Food & Drug Administration in 2021.