– Winning company has FDA cleared device to rapidly and objectively assess brain injury at point of care.
ROCKVILLE, MARYLAND, October 26, 2020 – BrainScope, a medical neurotechnology company that is a pioneer in the use of A.I. and machine learning in the creation of biomarkers of brain injuries and disease was selected from five finalists as the company with the most commercial potential at the 5th Annual BioHealth Capital Region Crab Trap Competition. The Bethesda, Maryland based company is helping hospital Emergency Departments (EDs) objectively triage the almost five million patients that present each year with suspected mild traumatic brain injuries. BrainScope’s FDA-cleared decision support tool provides a rapid and accurate assessment of the likelihood of a brain bleed and a concussion, at the point of care.
BrainScope’s outstanding 99% sensitivity to a head CT scan is performed without the use of radiation, in a fraction of the time, and can improve ED efficiency and increase patient satisfaction. Clinical studies have demonstrated that when BrainScope is used in triage, hospitals can reduce the number of patients being sent for head CT by about a third. According to BrainScope CEO Susan Hertzberg, “We are honored to have been chosen from this exceptional group of companies and are very excited by the early reception we are receiving from the emergency medical community. Now more than ever in this COVID-19 world, emergency departments need to have fast, accurate, objective tools to rapidly assess patient status and needed care.”
In addition to BrainScope, four other finalists – CARRTECH (Frederick), Creative Bio-Peptides (Rockville), innara Health (MO recognized as NCC-PDI medtech innovator), and KaloCyte (Baltimore) presented their innovative technologies related to safe delivery of medications from glass ampules, neurodegenerative and chronic pain therapies, neonatal feeding technologies, and dried bio-inspired artificial red blood cells.
Judging this year’s virtual pitch competition were Sally Allain, Head, JLABS @ Washington, DC, Christian Barrow, Executive Director, Life Sciences Banking, JP Morgan, Conley Jones, Senior Associate, Science & Technology, Alexandria Venture Investments, and Charles Andres, PhD, RAC, Associate, Wilson Sonsini Goodrich, Rosati Andrea Alms, MS, MBA, Fund Manager, BioHealth Capital Fund. Rich Bendis, President & CEO, BioHealth Innovation, Inc. moderated the event and stated “The judges made clear this was a particularly competitive group of finalists. We congratulate all the presenters on their progress to date and wish them great success in the future.”
BrainScope joins a group of prior winners all of whom have advanced their technologies and and raised funds since they presented at Crab Trap: Floreo (2019), Galen Robotics (2018), LifeSprout (2017) and Sonavex (2016).
2020 BioHealth Capital Region Pitch
A replay of the 5th Annual Crab Trap presentation can be viewed here.
Founded by BioHealth Innovation, Inc. (BHI) and MedImmune (now AstraZeneca) in 2016, the BioHealth Capital Region Crab Trap annual pitch competition focuses on highlighting the region’s innovative companies working in biohealth.
About the BioHealth Capital Region
The BioHealth Capital Region, comprised of Maryland, Virginia, and Washington, DC is the nation’s 4th largest biohealth cluster. The region encompasses more than 1800 life sciences companies, over 70 federal labs and world-class academic and research institutions. http://www.biohealthcapital.com/
BrainScope is a medical neurotechnology company that is improving brain health by providing objective, diagnostic insights that enable better patient care. BrainScope is leading the way in the rapid and objective assessment of brain-related conditions, starting with mild traumatic brain injury (mTBI), utilizing multiple integrated assessment capabilities, artificial intelligence (AI), and digitization. The company’s technology supports the American College of Emergency Physicians (ACEP) Choosing Wisely® campaign to avoid CT scans of the head in emergency department patients with minor head injury. BrainScope’s innovative EEG-based, AI-driven platform empowers physicians to quickly make accurate head injury assessments, addressing the full spectrum of traumatic brain injuries from structural (brain bleed) to functional (concussion) injuries, providing for the first time a full picture of the injury, and doing so in less time and without radiation.