Pioneering neurotechnology devlopers have received a US$2m boost to increase access to their portable brain scanning device.
HealthTech Connex, a Canadian medtech firm, developed the NeuroCatch Platform, a first-of-its-kind portable device that measures brain waves which was approved by Health Canada last year.
It enables healthcare professionals to rapidly record brainwaves and output event-related potential (ERP) information (measured brain responses).
ERPs have been used extensively by clinicians for many brain conditions and injuries such as concussions, dementia, Alzheimer’s, multiple sclerosis and PTSD, as well as for brain performance optimisation.
HealthTech Connex, which was founded by Kirk Fisher and Dr. Ryan D’Arcy in 2013, has obtained growth financing of US$2m from BDC Capital.
The new funds will be used to launch the latest version of NeuroCatch Platform, expand sales and marketing efforts, and seek clearance for the sale of the device in the US, as well as to pursue research and development.
“We are excited about the partnership with BDC Capital, as it greatly strengthens our ability to positively impact a billion brains,” says Kirk Fisher, CEO of HealthTech Connex.
“NeuroCatch is deployed clinically across Canada and is used in leading medical research centres across North America for objective cognitive evaluation. For example, this innovative technology is being applied in concussion, dementia and PTSD as well as in brain performance optimisation.
“Derived from the leading science of brain vital signs, NeuroCatch addresses the fact that, in medicine, ‘you can’t treat what you can’t measure’. With a rapid, accessible, easy-to-use brain scanner, the BDC Capital investment greatly helps us to scale up our innovation to positively impact brain health globally.”
