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Stroke rehab tech gets £29m funding boost for trials

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Stroke rehab tech firm BrainQ has received a major funding boost.

Israeli stroke rehab tech startup BrainQ has raised US$40m (£29m) in funds to support hospital trials among stroke survivors.

The firm has now raised US$50m overall to support its progress of its tech, which aims to reduce disability and promote neurorecovery for stroke victims.

Via a brain computer interface, the company’s frequency-tuned low intensity electromagnetic field therapy is designed to operate based on biological insights retrieved from brainwaves using explanatory machine learning tools.

These insights are aimed at imitating the natural processes of neural network synchronisation and promoting recovery processes.

The system is designed “to allow for scalable and decentralised care” via a portable, non-invasive wearable device that is “cloud-connected with integrated telemedicine tools that enable remotely monitored sessions through an app”.

Its new funding will be used to support a multi-centre trial of the stroke rehab tech among ischemic stroke survivors in selected US hospitals.

Earlier this year in the US, BrainQ received FDA Breakthrough Device Designation – allowing it to work closely with the FDA to expedite development plans and premarket clearance.

BrainQ co-founder and CEO Yotam Drechsler said: “We’ve seen great advancements in increasing stroke survival rates, but it remains the leading cause of long-term disability.

“With new funding and strong research partners, we’re entering our pivotal study aimed at significantly increasing the window of opportunity for reducing disability and enhancing recovery potential.”

BrainQ also this week announced the addition of a new board member, Stacey Pugh, chief commercial officer of Butterfly Network, and until recently SVP and President of Medtronic’s Neurovascular business.

Over the past decade, Pugh has been heavily involved in bringing clinical evidence and products, including thrombectomy devices, to markets around the world. 

She said: “While I’ve had the privilege to be closely involved in some of the largest efforts for influencing stroke care, when it comes to long term recovery there is still much that can be done to restore patients’ health and abilities.

“I’ve been watching BrainQ’s development of their technology and clinical data for a while, and I believe their therapies have the potential to make a real difference for stroke sufferers and their families.”

BrainQ’s latest funding round was led by Hanaco Ventures, along with Dexcel Pharma, and Peregrine Ventures.

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  1. Pingback: Assistive tech and the UK’s great adult social care challenge?

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