Supports Proprietary 'Near the Field' Objective Concussion Evaluation Technology
BETHLEHEM, PA / ACCESSWIRE / April 5, 2016 / Cerora, Inc., a GE (NYSE: GE) / StartUp Health Academy Entrepreneurship program and Ben Franklin Technology Partners of Northeastern Pennsylvania neurotechnology company, announced today the first closing of its 2016 seed financing round. These bridge funds will support the development of the company's Cerora Borealis™ brain function analysis software and enable the company to prepare for an upcoming Series A financing to support commercialization of its hardware/software solution for delivering objective brainwave biosensor data to help evaluate concussions 'near the field' of activity.
"Objective data from multiple portable biosensors provides field clinicians a considerable real time advantage over current assessments which are typically based solely on subjective clinical impressions," stated Adam J. Simon, Cerora CEO. "Our success in raising this investment capital is an important milestone for the company in its ability to execute on product development plans," Simon added. "With the 2016 bridge funding we can initiate product development with the design engineering firm we have selected, and we can enhance our collaboration with Lehigh University Sports Medicine on our concussion assessment technology."
This round of investment includes participation from Cerora Advisory Board member Christian L. Haller of RavenOye Group LLC. "Cerora Borealis exceeds all expectations from an investment perspective. The technology has diverse clinical applications, each of which is poised to become a home run individually. Cerora represents one of the best opportunities we have witnessed in ten years and we are proud to have them in our portfolio," commented Mr. Haller.
Cerora’s proprietary Borealis™ multimodal biosensor technology is designed to enable professionals to gather truly objective diagnostic information, which, along with neuropsychological performance data, self-reporting of symptoms, and additional biosensor-based measures, should lead to more accurate determinations and improved patient outcomes. Cerora intends to develop additional applications of the Borealis™ technology in drug and therapy development as clinical biomarkers, as well as health-related worker's compensation.
Cerora (www.cerora.com) is devoted to alleviating suffering and empowering people by transforming antiquated opinion-based methods into enlightened biosensor-based neurodiagnostics. The company intends to make a major positive impact in brain health assessment globally with an initial focus on traumatic brain injury / concussion. The Company is leading the way in the development and testing of mobile software and hardware technologies required to provide critical, objective, biomarker-based brain function diagnostic information. Located in the high-tech nexus at Ben Franklin Technology Partners of Northeastern Pennsylvania's Tech Ventures on Lehigh University's Mountaintop Campus in Bethlehem, Pennsylvania, Cerora has assembled a team of experienced medical scientists and management professionals under the leadership of CEO Adam J. Simon, PhD, a physicist and globally recognized brain biomarker expert.