X2 Biosystems aims for $12.5M funding round

July 10, 2013 by Sony Salzman

Sports brain injury device company X2 Biosystems puts $3.3 million in its coffers on its way to a targeted $12.5 million funding round.

X2 Biosystems aims for $12.5M funding round

X2 Biosystems, a medical device company that's developing sensors for sports brain injuries, drummed up $3.3 million of a hoped-for $12.5 million raise, according to a regulatory filing.

Eighteen unnamed investors kicked in on the round, according to the filing.

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X2's concussion detection device is a sensor about the size of a postage stamp worn by athletes that sends impact metrics to a web-based database. The data, supported by Windows Azure, can be sent to coaches and physicians real-time and can be managed with several analytical tools, according to the company's website.

The company was founded by former Roche (PINK:RHHBY) and Abbott Labs (NYSE:ABT) marketing executive Rich Able and mechanical engineer Christoph Mack. They began collaborating on a sports brain injury measurement device after Able's son suffered a concussion during a football game in 2007, according to the website.