The UCLA spinout will expand its commercialisation efforts and continue its research into brain health conditions.
Neural Analytics, a medical device spinout of University of California, Los Angeles (UCLA), has raised $10m in a funding round led by venture capital firm Reimagined Ventures.
The other investors in the round have not been disclosed.
Founded in 2013, Neural Analytics has developed the Lucid System, an ultrasound system designed for measuring and displaying cerebral blood flow velocities and monitoring of patients with brain disorders.
The technology is based on research conducted at UCLA’s Department of Neurosurgery..
The funding will allow the company to expand its commercialisation efforts in both the US and Europe, while continuing its R&D activities.
In January 2016, the company raised $10m in a series A round. Neural Analytics also obtained a $3m grant from US government-owned research facility National Institutes of Health in September 2016.
In 2015, the company received $3m in cash from the UCLA Venture Fund, a fund for entrepreneurs at the university. In total, the company has raised $27m in funding, according to its latest press release
Leo Petrossian, chief executive of Neural Analytics, said: “The additional round of funding will allow Neural Analytics to expand commercialisation efforts for the Lucid System both in the US and Europe and continue our ongoing research efforts to achieve earlier diagnosis for brain health conditions.”
