Jan Medical said today it obtained $7.5 million in Series C funding from partner Brainlab Inc, with funds slated to aid in completion of a clinical trial and filing for de novo clearance with the FDA and CE Mark approval in the European Union for its BrainPulse tool.
Mountain View, Calif.-based Jan Medical’s BrainPulse device is designed to non-invasively capture novel physiological signals through a patient’s cardiac output, used to measure vascular and brain tissue conditions, the company said. The data can be used as an ‘aid to diagnoses’ for multiple indications, including concussion and stroke.
“With growing public awareness and concern about concussions, Brainlab is excited to invest in a partner that will provide medical professionals and athletic trainers with the tools to help accurately diagnose concussions. This is an important and innovative product that allows us to expand our expertise in neurological diagnostic tools,” Brainlab CFO Joseph Doyle said in a prepared statement.
Brainlab will also provide resources to aid Jan Medical in ongoing clinical research, regulatory filing, commercialization and R&D. Brainlab marketing and biz dev veep Ken Bruener will join Jan Medical’s board of directors as part of the deal, the company said.
“This Series C funding further validates the potential of the BrainPulse device, as we accelerate our regulatory clearances and prepare for market launch. We are fortunate to collaborate with such an exciting, passionate team from a leading neuroscience company,” Jan Medical CEO Paul Lovoi said in a press release.
During clinical trials, the BrainPulse device was able to detect and observe both sports-related concussions and vasospasms, the company said..
Jan Medical originally teamed up with Brainlab in September, 2013, as it aimed to gain 2 FDA clearances via 2 separate clinical trials. In their earlier partnership, an additional Brainlab representative was added to Jan Medical’s board.