MOUNTAIN VIEW, Calif., June 17, 2011 — Jan Medical (www.janmedical.com) announced today that it has received $3.15 million in a Series “A” funding round. The lead corporate investor was Munich, Germany-based Brainlab. The funding will be used to commence and complete two clinical trials and the subsequent filing of two product 510(k)s with the FDA.
Clinical data related to the Company’s portable brain sensing system was disclosed recently during the annual scientific meeting of the Society of Interventional Radiology (SIR) by Dr. Kieran Murphy, Vice Chair & Deputy Chief of Medical Imaging and, Director of Medical Imaging Research at the University of Toronto. According to the principal investigator of this study Dr. Eric Aldrich, Associate Professor, Neurology and Physical Medicine & Rehabilitation; Medical Director, Department of Neurology, The Johns Hopkins Hospital and VP for Medical Affairs, Howard County Hospital. “Jan’s brain sensing system has the potential to dramatically improve the way stroke is diagnosed and monitored. Time is of the essence in preserving brain function during stroke and this technology promises to uniquely provide critical information on a timely basis both in the ER and in the Neurocritical care unit.”
“This cash infusion bears strong testimony to the potential of our brain-sensing platform,” said Paul Lovoi, Ph.D., CEO of Jan Medical. “Our story is compelling. Stroke is the third-leading cause of death in the U.S. and the leading cause of disability. Some 1.5 million patients present each year with what seem to be stroke symptoms, but half of them have actually not had a stroke. Our system will give healthcare providers a dependable device designed not only to detect stroke within minutes, but also empower them to make their pivotal assessment of whether the stroke is ischemic or hemorrhagic. Consequently, patient outcomes are expected to be improved, as healthcare providers will have correct and timely information to treat their patients faster, at lower cost and with less risk.”
Joseph Doyle, Brainlab’s Chief Financial Officer adds “At Brainlab a core mission is to enhance patient images with digital data from many sources, which is why we were so impressed with Jan Medical’s novel technology. Jan Medical is introducing an entirely new field of diagnostics that can impact everything from patient triage to surgical treatment.”
Brainlab develops, manufactures and markets software-driven medical technology that supports targeted, less-invasive treatment. Core products are image-guided systems and software that provide real-time information used for surgical navigation and radiosurgical planning and delivery.
Brainlab technology drives collaboration between hospitals and clinicians from a wide variety of subspecialties—from neurosurgery and oncology to orthopedics, ENT, CMF and spine & trauma. This integration delivers better access to improved and more efficient treatment.
Founded in 1989, the privately held Brainlab group has more than 5,000 systems installed in over 80 countries. Based in Munich, Germany, Brainlab employs 970 people in 16 offices worldwide.
To learn more, visit www.brainlab.com.
Jan Medical is a privately held, emerging medical technology company that has developed the world’s first and only portable brain sensing system designed to rapidly diagnose and aid assessment of strokes.