A Digital Publication for the Practicing Medical Specialist, Industry Executive & Investor

No Carolina / New York

OSF Ventures Joins Early Financing for 1st FDA-cleared Wireless Seizure Detection Sensor

OSF Ventures joins six other investors in a Series A, $12.5 million funding round for a wireless, wearable EEG (brain wave monitor) to detect seizures, even those that are non-convulsive with no obvious signs.

Catalyst Health Ventures (CHV) and Genoa Ventures co-led the over-subscribed early financing along with participation from Dexcom, Inc. (DXCM), Wavemaker 360, and existing investors MedMountain Ventures and Salt Lake City Angels.

The prevalence of neurodegenerative disorders is rising as the U.S. population ages. The World Health Organization says one in 10 people will experience a seizure in their lifetime and there are approximately 3.4 million people in the United States diagnosed with epilepsy. However, two-thirds of Americans don’t have easy access to EEG monitoring and most emergency departments lack the capability to screen for neuro-emergencies.

The one-inch square Epitel wireless sensor has a proprietary adhesive that easily sticks discreetly on a patient’s scalp, just below the hairline. Two sensors can be worn on the forehead while the other two can be located behind an ear for early screening when a physician suspects cognitive impairment. Currently, Epitel’s disposable wireless EEG sensors and remote access software known as REMI®, are FDA cleared for in-hospital use, but the company plans to seek clearance for use across a variety of patient care settings.

Bedside nurses instead of EEG technicians can easily attach Epitel’s miniature sensors within minutes, and brain wave activity can be recorded to see changes over time. Results are transmitted from the cloud to the REMI patient monitoring platform, easily accessible on a tablet.

“This technology really helps break down access barriers because it will not only reduce the time to EEG initiation, but the sensors and monitoring software give rural hospitals that do not have EEG resources the ability to screen patients suspected of seizure activity, in lieu of immediately requiring transfer to a larger tertiary hospital.”
Liridon Rrushaj, director of OSF Venture Investments.

[mks_pullquote align=”left” width=”300″ size=”24″ bg_color=”#1e73be” txt_color=”#ffffff”]”OSF HealthCare has many rural hospitals within its 15-hospital system, and the ease of use enables early detection of neurologic issues so doctors will be able to proactively address care options before the worst symptoms arise,” adds Rrushaj.[/mks_pullquote]

OSF Ventures notes the wireless technology prevents obstructions in the recordings of electrographic seizure activity or antenna noise that comes with tethered wires that are part of currently available hard-wired systems. Epitel’s sensors can provide real-time monitoring of adult and pediatric patients suspected of having neurological complications, thus potentially speeding diagnoses and treatment in community hospitals.

“Epitel’s system is truly an innovative solution to a widespread problem – EEG machines and skilled technicians are in short supply, with an ever growing demand,” says Dr. Deepak Nair, director of Ambulatory and Virtual Neurology Services for OSF HealthCare Illinois Neurological Institute and a neurological hospitalist at OSF HealthCare Saint Francis Medical Center in Peoria. “The Epitel team has developed a simple and powerful tool that allows us to provide remote EEG monitoring, increasing the speed of diagnosis and treatment. This approach to diagnostic medicine is exactly the transformative thinking that will help decentralize the delivery of advanced neurological care.”

OSF Ventures will be collaborating with Epitel to further support its value proposition as the company works to commercialize its REMI platform.

Epitel Chief Executive Officer Mark Lehmkuhle, PhD, stresses, “We look forward to additional clinical input from the specialists at OSF HealthCare and we are honored to have the support of OSF Ventures as part of a strong investment syndicate that will help us advance our platform and our product pipeline. We’re motivated by our belief that quick diagnosis and treatment enabled by our technology can lead to more effective treatment plans, better outcomes and improved quality of life for those with epilepsy and other neurological disorders.”

Medical Device News Magazinehttps://infomeddnews.com
Medical Device News Magazine provides breaking medical device / biotechnology news. Our subscribers include medical specialists, device industry executives, investors, and other allied health professionals, as well as patients who are interested in researching various medical devices. We hope you find value in our easy-to-read publication and its overall objectives! Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

More News!

With this new investment partnership, E Tech Group expects to accelerate organic growth and acquisition to become a top system integrator in North America.
The investment will allow ROM InWest to further distribute its fall detection product globally.
Nawal Ouzren, Sensorion’s Chief Executive Officer, said: “We are thrilled to announce another successful capital raise, securing an additional EUR 15 million to accommodate interest expressed by certain existing investors. This builds on the earlier EUR 50 million financing announced in February 2024, adding up to a total of EUR 100 million raised in less than 9 months. With this new financing, we are well-positioned to accelerate our gene therapy programs, including the progression of SENS-501 through its Phase 1/2 clinical study, Audiogene, and the advancement of our second program, GJB2-GT, towards Clinical Trial Applications submission in H1 2025. The capital increase enables the Company to finance its activities until the end of 2025. We remain deeply thankful for the ongoing support of our shareholders and partners as we strive to make a meaningful difference in the lives of those affected by hearing loss disorders.”
Strategic Investor, Osang Healthcare will partner with Kryptos Biotechnologies for the manufacturing and distribution of the product along with financing.
Proceeds from the financing will advance Obsidian’s lead engineered tumor-infiltrating lymphocyte (TIL) program, OBX-115, in its ongoing trials for patients with melanoma and non-small cell lung cancer (NSCLC). Obsidian Therapeutics is focused on enrolling patients and reaching key clinical and regulatory milestones, as well as manufacturing scale-up ahead of pivotal trial readiness.

By using this website you agree to accept Medical Device News Magazine Privacy Policy