Medical robotics company Neural Analytics announced that it has raised approximately $22m from sale of Series C shares led by Alpha Edison.
Neural Analytics said that it has been developing and commercializing technologies to measure and track brain health. The latest financing round takes the company’s total funding to approximately $66m.
According to the company, Lucid Robotic System is an innovative technology that combines the Lucid M1 Transcranial Doppler (TCD) System with the NeuralBot System, forming an autonomous all-in-one robotic neurovascular ultrasound device.
Neural Analytics has designed the Lucid Robotic System to non-invasively search, measure and display objective brain blood flow information in real-time.
The innovative robotic system support extends beyond the initial neurological assessments and can be used throughout the patient care chain starting from the bubble study in the identification of right-to-left shunts, to monitoring for cerebral blood flow velocities in real time, to emboli monitoring.
The company has currently made the Lucid Robotic System active at select centers in the US and is expected to continue the expansion of its commercialization.
Neural Analytics co-founder and chief executive officer Leo Petrossian said: “Over the past six years we have worked very hard to develop and validate new technologies into impactful products. Though the culmination of years of our work into US FDA clearance & European CE mark was a meaningful milestone in 2018, it was only the start of our journey.
“With this financing Neural Analytics will be able to launch the Lucid Robotic System into clinical environments where it will have the greatest impact on patient outcomes.”
Neural Analytics has recently enrolled the first patients into the CODEX Study, a prospective, single-arm, global multi-center study using an investigational iteration of the Lucid Robotic System.
The study is aimed at further exploration of the technical feasibility of its technology in a wider range of patients and neurological pathologies where monitoring of brain blood flow data would be of benefit in the assessment of neurological diseases.
Alpha Edison managing partner Nick Grouf said: “We are honored to deepen our partnership with Neural Analytics. Over the past year, the company has gained both FDA and EU CE Mark clearance for their revolutionary platform, which harnesses machine learning and robotics to accurately and quickly identify critical neurological conditions.
“We are confident that the company will play a central role in shaping the future of data driven diagnostics and bringing new technologies to healthcare professionals to better care for their patients.”