A Bethesda, Maryland startup BrainScope has been awarded a $2.67 million contract over two years to develop a miniature, hand-held, non-invasive medical devices that can rapidly evaluate traumatic brain injury in the field.
Industry: Medical Devices
Solution/Product: BrainScope has developed the Ahead system to help to triage patients who may have traumatic brain jury, including concussions.
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How the money will be used: The award will help to merge the company’s technological platform – BrainScope Aheah – with smartphone technology available today to allow those types of devices the ability to assess traumatic brain injury in the field.
Investors: U.S. Army Rapid Innovation Fund Research Contract; other investors are Revolution LLC, Shaman Ventures, ZG Ventures, Maryland Venture Fund and Brain Trust Accelerator Fund.
Management team: Michael Singer, President & CEO; Bill Koppes, Vice President, Commercial Product Development and Manufacturing; Douglas Oberly, Executive Director, Clinical Affairs
Market: While this contract is for military assessment in the field, BrainScope is looking at a broader civilian market, where roughly 1.6 million to 3.8 million sports-related traumatuc brain injuries occur annually.