Surrey-based HealthTech Connex has secured $2 million in financing from BDC Capital to expand marketing of its NeuroCatch Platform brain health measurement device.
The medical-technology company and its subsidiary, NeuroCatch Inc., are developers of the NeuroCatch Platform, billed as “a first-of-its-kind portable and cost-effective device that measures brain waves which was approved by Health Canada last year.”
The device is marketed to healthcare professionals for in-office use, “to rapidly record brainwaves and output event-related potential (ERP) information (measured brain responses),” the company says. “ERPs have been used extensively by clinicians for many brain conditions and injuries such as concussions, dementia, Alzheimer’s, multiple sclerosis and PTSD, as well as for brain performance optimization.”
• RELATED STORY, from 2017: ‘Game-changing’ Surrey-born technology tests brain vital signs.
HealthTech Connex, founded by Kirk Fisher and Dr. Ryan D’Arcy in 2013, has received seed-stage equity backing from the Lark Group, a real estate developer and construction company also based in Surrey.
The $2 million from BDC will help launch the latest version of NeuroCatch Platform, expand sales and marketing efforts, and seek clearance for the sale of the device in the United States, as well as to pursue research and development.
“We are excited about the partnership with BDC Capital, as it greatly strengthens our ability to positively impact a billion brains,” said Fisher, CEO of HealthTech Connex, in a news release posted to bdc.ca.
“NeuroCatch is deployed clinically across Canada and is used in leading medical research centres across North America for objective cognitive evaluation. For example, this innovative technology is being applied in concussion, dementia and PTSD as well as in brain performance optimization. Derived from the leading science of brain vital signs, NeuroCatch addresses the fact that, in medicine, ‘You can’t treat what you can’t measure’. With a rapid, accessible, easy-to-use brain scanner, the BDC Capital investment greatly helps us to scale up our innovation to positively impact brain health globally.”
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