Ceribell's brain monitor will help provide quick answers at the bedside for immediate and accurate treatment
The financing round was co-led by Longitude Capital and The Rise Fund. (Credit: Raman Oza from Pixabay)
Ceribell has secured $53m in Series C financing to advance the commercialisation of its novel non-invasive brain monitor called Rapid Response EEG.
The financing round, which was co-led by Longitude Capital and The Rise Fund, included new investors such as RA Capital Management, Redmile Group and Red Tree Venture Capital.
The round has also secured additional support from existing shareholders.
The technology platform developed by Ceribell addresses the requirement for faster diagnosis in patients with suspicion of seizure.
Ceribell intends to utilise the financing proceeds to further expand its commercial footprint in emergency departments and intensive care units across the globe.
The company is also expected to machine learning capabilities as well as easy EEG accessibility for other neurological conditions beyond seizure.
The real-time cloud computing and the Clarity machine learning algorithm are used by Ceribell’s Food and Drug Administration (FDA)-approved point of care brain monitor to deliver quick answers at the bedside for immediate and accurate treatment.
In 2017, the Ceribell EEG system secured 510(k) clearance from the US FDA. It is already commercialised in the US.
Ceribell CEO and co-founder Jane Chao said: “This new round of funding will help bring our seizure detection platform to more patients for better treatment and more hospitals to improve care standards and health economics.
“We’re excited to work with a strong group of investors who are committed to Ceribell’s mission to transform the way practice is delivered in the critical care setting by making EEG a new vital sign.”
In December 2019, the company announced the launch of Clarity, a new 24/7 bedside EEG monitoring and alerting technology. The system automatically detects seizures and alerts clinicians for the presence of brain activity consistent with status epilepticus.