Led by Ally Bridge Group and with the assistance of its current shareholders, venture-backed Ceribell, Inc. has raised $50 million.
The funding was structured as an extension of its $53 million Series C raise, which was introduced in April 2021.
WHAT IT DOES
Ceribell developed a speedy response electroencephalography (EEG) system to make diagnosing neurological sufferers extra environment friendly. It says that its expertise platform addresses the necessity to diagnose sufferers suspected of getting a seizure extra rapidly through the use of its mind monitor for point-of-care seizure triage.
The corporate will use the funding to help its ongoing industrial growth in emergency departments and intensive care items.
Moreover, the allocation will permit Ceribell to proceed leveraging machine studying and enhance EEG accessibility for different neurological situations past seizures.
“Primarily based on our progress thus far, it’s clear that the Ceribell Fast EEG system is enhancing the standard of care seizure sufferers obtain within the hospital. We stay up for persevering with to carry this novel expertise to extra ICUs and emergency departments, in addition to creating diagnostic and monitoring options for added neurological indications impacting the lives of critically sick sufferers,” Ceribell’s cofounder and CEO Jane Chao mentioned in an announcement.
MARKET SNAPSHOT
Earlier this month, Ceribell introduced it has acquired FDA Breakthrough System Designation to make use of machine studying to investigate EEG waveform knowledge to detect proof of delirium.
The Breakthrough System Designation isn’t a advertising approval from the FDA, nevertheless it goals to speed up the overview of merchandise that would assist deal with debilitating or life-threatening situations. This system goals to promptly present sufferers and suppliers with entry to medical gadgets and protect the statutory requirements for the 510(ok) clearance. Ceribell’s EEG system has acquired 4 510(ok) clearances, with the first coming in 2017.
One other firm within the seizure-detection and care house is Epitel, which raised $12.5 million in Series A funding earlier this yr to commercialize its wearable EEG system. Zeit is creating a stroke and seizure-detection headband, and picked up $2 million in late 2021.
