Hybrid neurological and ophthalmological company eyeBrain Medical raised $6 million in a new round of equity financing for its chronic severe headache treatment technology.
The company is aiming to treat what it calls ‘eyegraines’, or visual misalignments between images from both eyes that eyeBrain says can over stimulate the trigeminal nerve in the brain and trigger persistent headaches, according to the company’s website.
eyeBrain Medical treats the issue through a ‘SightSync’ screening, in which the imbalance between the eyes and the brain is measured, followed by treatment with its NeuroLenses, which are designed to realign the imbalance and reduce the resulting chronic headaches, according to the company’s website.
The money comes from 21 anonymous sources, according to an SEC filing, and the company has not fully disclosed how it plans to spend the raised funds.
The company did clarify that $5.5 million of the received funds were in new money, with $490,479 going towards the cancellation of debt, according to the filing.