BrainCheck cognitive assessment test
BrainCheck, a Houston-based health IT company that digitized cognitive assessment tests to assess athletes for signs of a concussion, has raised $3 million, according to a news release. The business plans to use the funding to build its customer base in athletics where concussions are a significant risk. But the company also wants to apply its technology platform to assess seniors at risk of developing dementia, a market segment that has attracted the interest of many technology companies.
The company’s approach involves the use of an iPad or desktop computer to screen games to measure users’ reaction time, visual processing, cognitive processing, coordination and memory, according to the news release. Dr. David Eagleman, the founder and chief scientific officer for BrainCheck, developed the digital platform for the business in the neuroscience laboratory at Baylor College of Medicine.
BrainCheck is a participant in the Texas Medical Center Accelerator in Houston. The company’s backers include angel investors such as Brett Giroir, a strategic adviser to the accelerator who took part in the seed round, according to TechCrunch, and George McLendon, a former provost at Rice University.
Given that 9.9 million people were diagnosed with dementia last year, companies see a huge market opportunity for making it easier to spot signs of memory decline earlier with the goal of slowing the progression of the condition. There are several businesses that are interested in digitizing cognitive assessment as a way of getting a baseline of users capabilities to track changes over time from conditions like a concussion or the early indications of what could be Alzheimer’s disease.
Savonix, which raised $1.5 million in seed funding last year, launched its cognitive testing app earlier this month, MobiHealthNews wrote.
Cerebral Assessment Systems received marketing approval from the U.S. Food and Drug Administration last year for Cognivue, a cognitive assessment tool that functions somewhat like a video game.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
And it’s not just startups interested in cognitive assessment. In August, Quest Diagnostics launched CogniSense to assist physicians in diagnosing, assessing, and managing the care of people with cognitive dysfunction, according to Quest’s website.
