BRAINBox Solutions raises debt to build a bedside concussion test
What's the deal? BRAINBox Solutions, a Richmond, Virginia startup developing blood-based concussion diagnostics, has raised a strategic financing that includes equity funding alongside credit facilities from Pivotal Capital PartnersDealroom has a profile for this one. Try Dealroom → and New Horizon BankDealroom has a profile for this one. Try Dealroom →. Terms were not disclosed.
What's the endgame? BRAINBox is building what it calls the first AI-enabled, multi-modality test to diagnose and prognose mild traumatic brain injury, commonly known as concussion. The product pairs proprietary blood biomarkers with a digital neurocognitive testing platform to produce a composite injury score.
Why now? The company recently signed a development agreement with Prolight DiagnosticsDealroom has a profile for this one. Try Dealroom →, whose Psyros platform detects biomarkers at extremely low concentrations from a single drop of blood. The deal followed a feasibility study in which Prolight evaluated 260 patient samples from BRAINBox's HeadSMART II pivotal trial across three assays.
What will the money do? The funds will help BRAINBox develop hardware and software for a commercial point-of-care device and acquire pilot instruments. The goal is to offer the test in hospital labs and other settings, including clinics, ambulances, emergency departments, nursing homes, and athletic facilities.
"Development of a PoC device is an important dimension of our strategy," said chief executive officer Donna Edmonds, adding that the collaboration with Prolight demonstrated the platform's suitability for the company's TBI test and wider neurology portfolio.
The signal: A fast, bedside concussion test could shift diagnosis away from labs and into the field, where injuries happen. By backing device development rather than more trials, BRAINBox is signalling a move toward commercialisation.
Read more: Morningstar
Image credit: openmedscience
