BETHESDA, MD – May 12, 2016 – BrainScope Company, Inc., a privately held neurotechnology company with an initial focus on traumatic brain injury (TBI) and concussion assessment, announced today that it received the Emerging Firm of the Year – Life Science Company Award by the Tech Council of Maryland (TCM).
The award was presented Wednesday at TCM’s 28th Annual Industry Awards Celebration Dinner & Reception. The awards dinner is attended by over 800 executives from the life science and technology communities, and is Maryland’s largest and most prestigious award ceremony of its kind. The criteria by which the award was judged included a strong strategic direction to differentiate the company from others in their chosen market space; the ability to develop innovative products or services; technology based development that represents a disruptive technology, a platform technology, or is targeting a critical market need; and the demonstrated ability to attract resources and growth in financial performance.
“We are greatly honored to have received this award from the Tech Council of Maryland," said Michael Singer, CEO of BrainScope. “The state of Maryland is home to over 2,000 life sciences companies, so to have been chosen as the recipient of the Emerging Life Science Firm of the Year is humbling. It has been wonderful to work in such an energetic community and to benefit from all the resources Maryland has to offer."
Some of BrainScope’s achievements leading to this award include the receipt of nearly $30 million of Department of Defense contracts and other grants to conduct its scientific research; being named both an original recipient and finalist of the GE-NFL Head Health Challenge I; receiving FDA clearance on two products in the last eighteen months; being featured in 15 peer-reviewed publications; and holding over 100 issued and pending patents.
BrainScope’s disruptive medical technology will change the way head-injured patients are assessed and managed, providing clinicians – for the first time – a comprehensive, objective and accessible view of a person’s head trauma. BrainScope’s technology can be used anywhere – whether in a locker room, at a military training site or battlefield, or an emergency room, urgent care center, or doctor’s office – giving clinicians an objective analysis in real time to inform an accurate diagnosis. The company’s technology is on track to be the first fully FDA-cleared, integrated and objective system used to immediately and objectively assess patients for all forms of TBI – from concussions to bleeds in the brain.
BrainScope’s medical technology uses an off-the-shelf Android device and proprietary disposable electrode headset. It collects recordings of brain electrical activity and other vital patient-specific data. The technology utilizes classification algorithms created from sophisticated signal processing methods based on a large database of injured and non-injured patients. With novel and patented technologies, the BrainScope device provides a full panel view of the state of the brain after injury.
BrainScope is a medical neurotechnology company that is developing a new generation of handheld, easy-to-use, non-invasive instruments designed to aid medical professionals in rapidly and objectively assessing various neurological conditions, starting with traumatic brain injury including concussion. The company has completed 20 clinical studies at 55 locations, with its technology featured in 15 peer-reviewed articles in leading scientific and medical publications. It is backed by Revolution (created by AOL co-founder Steve Case), Shaman Ventures, ZG Ventures, State of Maryland Venture Fund, Brain Trust Accelerator Fund, and Difference Capital. BrainScope devices in development are based on a proprietary technology platform, which integrates databases of over 6,000 brainwave recordings with advanced digital signal processing, sophisticated algorithms, miniaturized hardware and disposable headset sensors. In May 2015 the United States Food and Drug Administration (FDA) cleared the company’s Ahead 200 device, which uses commercial smartphone hardware leveraging Google’s Android operating system and a custom sensor to record and analyze a patient’s electroencephalogram (EEG) after head injury. BrainScope devices under development, including the Ahead 300 and the Ahead Concussion Assessment System, for assessment of traumatic brain injury and concussion are for investigational use only. For more information, please visit www.brainscope.com.