Do Ally Bridge group and with the help of existing shareholders, Ceribell, Inc. backed by the venture that raised $50 million.
Capital is structured as an extension of Raise $53 million Seriesannounced in April 2021.
WHAT IT DOES
Ceribell has developed a rapid response electroencephalogram (EEG) system to help diagnose neurological patients more efficiently. It says its technology platform addresses the need to diagnose patients with suspected seizures more quickly by using its brain monitors to classify seizures at the point of care.
The company will use the funds to support ongoing commercial expansion in emergency departments and intensive care units.
Additionally, the allocation will allow Ceribell to further leverage machine learning and improve EEG accessibility for neurological conditions other than epilepsy.
“Based on our progress to date, it is clear that the Ceribell Rapid EEG system is improving the quality of care for patients with seizures in hospitals. We look forward to continuing to bring this new technology to more ICUs and emergency department, as well as developing diagnostic and monitoring solutions for additional neurological indications that impact the lives of critically ill patients,” said Jane Chao, co-founder and CEO of Ceribell said in a statement.
SNAPSHOT . MARKET
Earlier this month, Ceribell announced it had received the FDA’s Breakthrough Device Designation to use machine learning to analyze EEG waveform data to detect evidence of delirium.
The Breakthrough Device designation is not FDA marketing approval, but it is intended to accelerate the review of products that can help treat debilitating or life-threatening conditions. The program aims to provide patients and service providers with timely access to medical devices and maintain regulatory standards for 510(k) clearances. Ceribell’s EEG system received four 510(k) intervals, with came for the first time in 2017.
Another company in epilepsy care and detection, Epitel, has raised funds $12.5 million in Series A funding earlier this year to commercialize its wearable EEG system. Zeit is developing a headband that detects strokes and seizures, and grossed $2 million by the end of 2021.