Israeli company BrainQ for stroke raises $40 million

Israeli stroke treatment technology startup BrainQ has announced the completion of a $40 million funding round led by Hanaco Ventures, with participation from Dexcel Pharma and Peregrine Ventures. The round brings the total funding BrainQ has raised to more than $50 million, with existing investors including OurCrowd, Norma, Sailing Capital, IT Farm, Millhouse and Qure. Related Articles Israeli BrainQ Neurological AI Corporation raises $8.8 million, and the funding will be used to support the company’s next pivotal multicenter trial for ischemic stroke survivors for its technology in select hospitals in the United States as well as to continue building its marketing infrastructure. Earlier this year, BrainQ received an FDA Breakthrough Device Designation Award for its investigative stroke treatment, which provides the company with the opportunity to work closely with the FDA to complete pre-market development and clearance plans as well as access to new medical coverage for the innovative technology. Masar (Ministry of Communications and Information Technology). Jerusalem-based BrainQ was founded by CEO Yotam Dreschler, CIO Dr. Yaron Segal and Professor Esther Shohami at CSO. Dreschler said: “There have been major advances in developing methods to increase survival after stroke, but stroke has remained the leading cause of long-term disability, posing a major societal challenge. With new funding and strong research partners, we are entering into our pivotal study with the goal of Significantly increase the window of opportunity to reduce post-stroke disability and enhance recovery potential – something that can impact the lives of many.” BrainQ’s cloud-based investigative technology aims to reduce disability and enhance the neurological recovery of rehabilitation for stroke victims. Using a brain-computer interface-based approach, the company’s frequency-tuned, low-intensity electromagnetic field therapy works based on biological insights retrieved from brainwaves using explanatory machine learning tools. These ideas aim to mimic the natural processes of neural network synchronization and enhance retrieval processes. The system allows for scalable, decentralized care via a portable, non-invasive wearable device connected to the cloud with integrated telemedicine tools that enable remote monitoring sessions through an application. Published by Globes, Israel business news – en.globes.co.il – on August 16, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021