US-based electroencephalogram (EEG) technology developer Ceribell has closed a $35m series B round featuring biopharmaceutical company UCB and medical device producer LivaNova.
Alternative investment platform Optimas Capital Partners Fund co-led the round with The Rise Fund, the impact investment fund managed by private equity group TPG through its TPG Growth unit.
Ceribell is looking to commercialise EEG technology, which involves testing the brain to detect issues with its electrical activity, to help diagnose and treat patients in danger of suffering seizures.
The company’s lead product is a headband that makes use of a recorder system to detect and transmit EEG data to a cloud software platform where it can be analysed by a specialist, enabling patients to be diagnosed more quickly.
The Ceribell EEG System received US regulatory clearance in 2017 and the series B funding will support the ongoing commercialisation of the device. It has not publicly disclosed details of its earlier financing.
Jane Chao, Ceribell’s co-founder and CEO, said: “We are excited to see visionary pioneer health care practitioners already adopting our technology and transforming their EEG capability. We are excited to have the funds to reach more hospitals and help them significantly improve patient care.”
Image courtesy of Ceribell, Inc.
