Neural Analytics Continues Its Journey with $22M Financing

When Neural Analytics won CE mark and a Nod from FDA for its ultrasound guidance device last year, that was only the start of the company’s journey. The Los Angeles-based company is now on a quest to launch its neurocare solution in the U.S. and develop a strategy to help push adoption rates for the technology. The company kicked off the latest part of its journey with a $22 million financing from the sale of Series C shares led by Alpha Edison. Neural Analytics has also issued warrants to purchase stock in connection to the financing. Leo Petrossian, PhD., Co-Founder and CEO of Neural Analytics said the financing was a significant accomplishment for the company. “In the industry the funding of any startup boils down to exactly two requirements, Petrossian, told MD+DI. “One is how well do people understand the market and two is how well do they understand the solution the business provides.” Petrossian added, “we have the good fortune of entering a market where there has been a tremendous amount of awareness raised … [such as the] success of companies like Johnson & Johnson, Medtronic and Penumbra around stroke therapies … the awareness in the marketplace for neurocare is very, very high.” The Lucid Robotic System is a cutting-edge technology that combines the Lucid M1 Transcranial Doppler (TCD) System with the NeuralBot Syst...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news