Cambridge-based BioBehavioral Diagnostics Co., which is developing tools to assist clinicians in diagnosing symptoms common to Attention Deficit Hyperactivity Disorder, rang up $2.5 million in new funding through the sale of convertible debt securities.
The new funding round, disclosed Thursday through securities filings, closed June 11. The company did not name any of the three investors buying into the company.
Convertible debt typically provides lenders with equity “kickers,” giving them the option to convert a portion of the debt into company stock in addition to receiving their regular interest and principal payments.
Last month, BioBDX began marketing its Quotient ADHD system, an office-based test measuring neurological control functions. The non-invasive test uses MRI to map brain activity in children in response to various stimuli designed to measure ADHD symptoms such as impulsive behavior, a lack of attention and hyperactivity.
According to the company, results are consistent through multiple testings and are expected to improve diagnosis and treatment of ADHD, which some studies indicate may effect one in 11 U.S. children.
Early investors in BioBDX include Aura Equity Partners and Sevin Rosen Funds.