Medical technology manufacturer Brainlab provided $7.5m in series C funding on Tuesday for Jan Medical, a US-based developer of neurological diagnostics technology.
The funds will support clinical trials for BrainPulse, a diagnostic tool Jan Medical is developing to detect abnormal neurological conditions like concussion and strokes by using cardiac output to measure vasculature and brain tissue condition.
In addition to equity funding, existing investor Brainlab is also supplying resources to help Jan Medical in clinical research, commercialisation and R&D. Ken Bruener, vice pesident of marketing and business development for Brainlab, will take up the company’s seat on Jan Medical’s board of directors.
Joseph Doyle, Brainlab’s chief financial officer, said: “With growing public awareness and concern about concussions, Brainlab is excited to invest in a partner that will provide medical professionals and athletic trainers with the tools to help accurately diagnose concussions.
“This is an important and innovative product that allows us to expand our expertise in neurological diagnostic tools.”
Jan Medical previously received $3.5m in a Brainlab-backed series A round in 2011, according to a regulatory filing. Brainlab also supplied it with an undisclosed amount of series B capital in 2013 in conjunction with the formation of a strategic collaboration agreement.