The topic of brain damage caused by football injuries has found itself at the center of national debate. So, on a day when two of college football's best teams are scheduled to throw down in the 2018 College Football Playoff National Championship, it's only fitting that a local startup working to measure and diagnose brain health has announced the close of a $15 million Series B.
Founded in 2013, Neural Analytics creates products that provide non-invasive ways of tracking brain health, with a focus on acute ischemic stroke, traumatic brain injury and dementia. The company's Lucid Transcranial Doppler Ultrasound System (Lucid System) uses ultrasound to survey the brain's blood vessels, all from the relative comfort of a physician's office. Because the system — which consists of the ultrasound device as well as a medical-grade tablet — can be easily transported throughout medical facilities, it can be used in emergency scenarios that require the assessment of blood flow in the brain.
“This round of funding will allow us to build on the momentum we have generated in 2017 and expand our team as we further advance the development of the Lucid System to assess and monitor additional brain health conditions,” said Leo Petrossian, Ph.D., co-founder and CEO, in a statement.
The Series B comes on the heels of a partnership with the Department of Defense, which awarded the company $10 million to develop a portable device for assessing combat-related traumatic brain injuries. Today's round was led by LA-based early-stage venture firm Alpha Edison. In April, the company raised $9.1 million from Reimagined Ventures to help fund new research initiatives and commercialize its product in the U.S. and Europe.
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