BETHESDA, Md.--(BUSINESS WIRE)--BrainScope® Company, Inc. today announced that it has been awarded three contracts by the United States Department of Defense (DOD), both from the U.S. Army and Navy, for continued research and development of its Ahead® system for the assessment of Traumatic Brain Injury (TBI) and concussion. These three contracts combined are valued at $15.93 million. These newly awarded contracts will enable BrainScope to conduct further clinical studies and development of its TBI and concussion technology in hospital Emergency Departments and with university sports programs. From 2011 through 2013, BrainScope was awarded $11.27 million of DOD research contracts for the development of its TBI assessment technology, bringing the total awarded to date to $27.2 million. In addition, BrainScope has received significant funding from private investors to accelerate its development efforts.
BrainScope’s proprietary Ahead system in development addresses the unmet need for a medical device to aid in the evaluation of patients who are suspected of TBI, including its milder form known as concussion. The Ahead system records brain electrical activity with a handheld, non-invasive, non-radiation emitting medical device, and utilizes advanced algorithms that quantify and characterize features of brain electrical activity associated with TBI. The Ahead system is being developed to be utilized as an adjunct to standard clinical practice to aid in the rapid, effective and objective assessment of individuals suspected of TBI at the point of care. Early identification and categorization of even the mildest forms of brain injury are the first steps in providing proper care to ensure optimal recovery. BrainScope recently completed development of a prototype miniaturized Ahead system using existing smartphone technology that will be utilized under these three contracts.
"We are extremely honored and humbled to receive these three research contracts to allow us to continue our work in partnership with the U.S. Department of Defense to develop these important assessment capabilities for traumatic brain injury," said Michael Singer, President and CEO of BrainScope. “We understand the significant need for a rapidly applied assessment capability with results displayed in minutes so that first responders can make vital triage decisions. We are greatly appreciative of the support the U.S. Military has shown BrainScope over the years and look forward to quickly ramping up our efforts on these important projects.”
COL Dallas Hack M.D., U.S. Army Medical Research and Materiel Command Brain Health Champion, added, “BrainScope has been a superb development partner, meeting program benchmarks despite the technical challenges inherent in innovative, yet complex, technology.”
Results from clinical studies utilizing BrainScope’s technology have been published through 14 articles in leading peer-reviewed neurology and emergency medicine journals such as Journal of Neurotrauma, Brain Injury, The Journal of Head Trauma Rehabilitation and The American Journal of Emergency Medicine. BrainScope holds 75 issued and pending patents related to its technology.
Backed by Revolution (created by AOL co-founder Steve Case), Shaman Ventures, ZG Ventures, Maryland Venture Fund, Brain Trust Accelerator Fund, and Difference Capital, BrainScope is a medical neurotechnology company that is developing a new generation of hand-held, easy-to-use, non-invasive instruments designed to aid medical professionals in rapidly and objectively assessing TBI. BrainScope devices in development are based on a proprietary technology platform, which integrates databases of brainwave recordings with advanced digital signal processing, sophisticated algorithms, miniaturized hardware and disposable headset sensors. BrainScope's unique devices are being created to meet a long-standing clinical need for improved early identification, staging and triage of head injured patients. BrainScope devices under development for assessment of traumatically-induced head injury and concussion are for investigational use only. For more information, please visit www.brainscope.com.
This work is supported by the U.S. Army Medical Research and Materiel Command under Contract No. W81XWH-14-C-1405, and by the U.S. Army Contracting Command, Aberdeen Proving Ground, Natick Contracting Division under Contract Nos. W911QY-14-C-0097 and W911QY-14-C-0098. The approved funding source is the Defense Medical Research and Development Program (http://dmrdp.fhpr.osd.mil/home.aspx). Any views, opinions, conclusions and/or findings contained in this press release are those of BrainScope and should not be construed as an official Department of the Army position, policy or decision unless so designated by other documentation.