Neural Analytics announced that the company has received a $3m grant from the National Institutes of Health (NIH) to support a clinical validation study of its portable brain monitoring platform.
The grant is supported by the NIH’s Small Business Innovation Research (SBIR) program to develop life-saving innovations for urgent needs in health care.
“We are honored to receive this NIH grant, which will allow us to accelerate the development of our technology to detect traumatic brain injury (TBI) and stroke as early as possible,” said Leo Petrossian, Chief Executive Officer of Neural Analytics.
“Neural Analytics is committed to bringing urgently needed portable diagnostic tools to clinicians in order to help expedite care for the millions of patients who suffer from these neurovascular conditions each year.”
Despite significant advances in the treatment of traumatic brain injury and stroke, a reliable diagnostic and monitoring method for first responders and emergency room physicians is not available to the clinical community.
The limited reliability of currently available diagnostics results in lengthy delays to treatment, which can harm patients and increase costs.1
“We need a portable tool to effectively look inside the brain and determine the extent of disease to help us significantly advance brain health in the 21st century,” said Neil Martin, MD and Chief of Neurosurgery at the University of California Los Angeles.
“When approved by the FDA, these types of portable devices will revolutionize medical care by assisting physicians and first responders to quickly evaluate brain health and expedite treatment for many patients.”
There are 2.5 million people affected by TBI in the United States and 14.8 million people are affected globally each year. The cost of TBI care in the U.S. alone totals $77 billion annually, and reliable triage and timely treatment remains unavailable for a vast majority of these patients.2,3
Stroke is a more severe condition, with an annual U.S. healthcare cost of $104 billion. Stroke is a very time sensitive disease and requires intervention within six hours.