Market Overview

BrainScope Receives $4.5 Million Department of Defense Contract to Add Ocular Assessment to Future Concussion Products

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Artificial Intelligence and Multi-Modal Capabilities to Optimize
Personalized Concussion Assessment

BrainScope today announced that it has been awarded a research contract
by the United States Department of Defense (DOD) valued at $4.5 million
to create and integrate ocular capabilities into its handheld,
multi-parameter mild Traumatic Brain Injury (mTBI) and concussion
products.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180904005134/en/

BrainScope One (Photo: Business Wire)

BrainScope One (Photo: Business Wire)

BrainScope's initial product in the market, BrainScope One, is
the first FDA-cleared medical device to offer capabilities to assess the
full spectrum of brain injury – from concussions (functional
abnormality) to brain bleeds (structural injury) using EEG and other
parameters which together provide the clinician a panel of capabilities
to help with their clinical diagnosis. With this research contract,
BrainScope will add specific capabilities related to assessment of the
patient's eyes which will be incorporated in future versions of
BrainScope's products.

"We are extremely honored and humbled to receive this research contract
to continue our work in partnership with the U.S. Department of Defense
to develop these important assessment capabilities for concussion and
mild traumatic brain injury," stated Michael Singer, CEO of BrainScope.
"We understand the significant need to incorporate multiple parameters,
all on a single device. Using our proprietary AI and multi-modal
technologies, we will rapidly ramp up our efforts on this important
project. We are greatly appreciative of the support the U.S. Military
has shown BrainScope over the years and the opportunity to aid in the
care of our service members."

About BrainScope

BrainScope's mission is to revolutionize the rapid and objective
assessment of brain-related conditions, starting with concussion and
mild traumatic brain injury (mTBI), utilizing multiple integrated
assessment capabilities, artificial intelligence (AI) and digitization
within a culture of quality, excellence and entrepreneurialism. The
Company's first product, BrainScope One (cleared as Ahead 300),
incorporates a multi-modal panel of capabilities including EEG-based
technology that is non-invasive for mildly presenting head injured
patients, 18-85 years old, within 3 days after injury and is not a
replacement to CT scan. BrainScope's technology platform integrates
databases of thousands of brainwave recordings with AI technology and
miniaturized hardware and disposable headset sensors, all of which are
covered by an extensive intellectual property portfolio of over 100
issued and pending patents globally. BrainScope has received five FDA
clearances and ISO 13485:2003 Certification. It has 24 peer-reviewed
publications on its technology. Recent white papers authored by third
parties have shown the potential for BrainScope One to decrease
unnecessary head CT scans by one-third, to reduce head injury referrals
to hospital emergency departments by up to 75%, and to reduce healthcare
costs for payers and patients by over 30%.

BrainScope has partnered with the U.S. Department of Defense for the
development of its TBI assessment technology, and BrainScope One
is currently being fielded by the U.S. military, both stateside and
internationally. BrainScope One is also being utilized in a
cross-section of market segments including: urgent care and occupational
health clinics; concussion clinics; hospital emergency rooms; university
sports and student health centers; professional sports; and
pharmaceutical clinical trials. BrainScope has been the recipient of
several prestigious awards, including the Frost & Sullivan 2017 Best
Practices Award for New Product Innovation in the Traumatic Brain Injury
Assessment Solutions Market, was a two-time winner of the GE-NFL Head
Health Challenge, and has received two nominations for the Prix Galien
Best Medical Technology, regarded as the equivalent of the Nobel Prize
for medical devices. For more information, please visit www.brainscope.com.

This work is supported by the US Army Medical Research and Materiel
Command under Contract No. W81XWH-18-C-0157. The views, opinions and/or
findings contained in this report 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.

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