Directed by Allied Bridge Group and with the help of its existing shareholders, venture-backed Ceribell, Inc. raised $50 million.
The funding was structured as an extension of its Series C fundraising of $53 millionwhich was announced in April 2021.
WHAT HE DOES
Ceribell has developed a rapid-response electroencephalography (EEG) system to make diagnosis of neurological patients more efficient. He says his technology platform addresses the need to more quickly diagnose patients suspected of having a seizure by using his brain monitor for point-of-care seizure triage.
The company will use the funding to support its ongoing business expansion into emergency departments and intensive care units.
Additionally, the award will allow Ceribell to continue to leverage machine learning and improve accessibility to EEG for other neurological conditions beyond seizures.
“Based on our progress to date, it is clear that the Ceribell Rapid EEG System is improving the quality of care epilepsy patients receive in hospital. We look forward to continuing to bring this new technology to more ICUs. and emergency departments, as well as developing diagnostic and monitoring solutions for additional neurological indications impacting the lives of critically ill patients,” Ceribell co-founder and CEO Jane Chao said in a statement. communicated.
Earlier this month, Ceribell announced it had received Breakthrough Device Designation from the FDA to use machine learning to analyze EEG waveform data to detect evidence of delirium.
The Breakthrough Device designation is not an FDA marketing approval, but it is intended to expedite the review of products that could help treat debilitating or life-threatening conditions. The program aims to quickly provide patients and providers with access to medical devices and preserve statutory standards for 510(k) authorization. Ceribell’s EEG System has received four 510(k) clearances, with the first arrival in 2017.
Another company in the area of crisis detection and care is Epitel, which raised $12.5 million in Series A funding earlier this year to market its portable EEG system. Zeit is developing a stroke and seizure detection headband, and picked up $2 million at the end of 2021.