5 years ago

BrainWaveBank Secures £1.1 Million for Alzheimer's and Mental Health Monitoring Platform

  • BrainWaveBank, a Belfast and Dublin-based provider of a neurocognitive platform for monitoring diseases like Alzheimer's, closed a £1.1 million financing round led by Par Equity

  • The funding will be used to further develop its technology, scale commercial activities, and expand into the global clinical trials market

  • The company's platform uses a wireless dry EEG headset and gamified neurocognitive tests to assess cognitive function remotely

  • It has secured contracts with pharmaceutical and biotechnology companies for evaluating new therapies for Alzheimer's and psychiatric conditions.

      • ProblemHealthcare

      "Developing new treatments for Alzheimer's and other psychiatric conditions is a long and costly process. Current methods rely on expensive and time-consuming clinical trials, which often fail to produce effective treatments. "

      Solution

      "BrainWaveBank is developing a machine learning-enabled neurocognitive platform that can be used to remotely monitor patients with central nervous system disorders, such as Alzheimer's and schizophrenia, in their homes. The platform uses a combination of a dry EEG headset and engaging gamified neurocognitive tests to measure neurological and cognitive parameters. This allows for the objective and longitudinal tracking of disease progression and the effects of drug treatments, which can help to reduce the time, risk, and cost of developing new treatments."

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