Neural Analytics Secures $10 Million to Advance Lucid Robotic System for Neurological Disorder Diagnostics

Recently, VCBeat (WeChat official account: vcbeat) learned from foreign media reports that Neural Analytics, a medical device company headquartered in California, USA, announced on November 29 (local time) the completion of a $10 million financing round. Neural Analytics stated that the funds will be used for its robot-assisted cerebral ultrasound device currently under development.

Neural Analytics, founded in 2013, is a medical device company that has developed and commercialized technologies for measuring and monitoring brain health. The company’s Lucid Robotic System—comprising the Lucid™ M1 Transcranial Doppler Ultrasound System and the NeuralBot™ System—is a robot-assisted ultrasound platform designed for brain health assessment. Integrating an all-in-one neurovascular ultrasound device, the system enables non-invasive measurement and visualization of cerebral blood flow information under the guidance of healthcare professionals. By combining ultrasound, robotics, and machine learning technologies, this solution provides neurologists with critical insights into brain health, supporting clinical decision-making and improving patient outcomes.

Image from the official website of Neural Analytics

In January this year, the company raised $15 million in a Series B financing round led by Alpha Edison. This funding round commenced in May of this year. According to regulatory filings released on November 28 (local time), Neural Analytics has raised nearly $10 million from 18 undisclosed investors through the issuance of bonds, options, warrants, and other securities. To date, the company has raised a total of $51.7 million.

“We are committed to advancing brain health through transformative technology, providing neurologists with the critical information needed to make clinical decisions and improve patient outcomes,” said Leo Petrossian, Co-founder and CEO of Neural Analytics, in a statement this June. “Our product offers clinicians a non-invasive assessment of patients’ brain health, helping them diagnose neurological conditions without the need for more invasive testing.”

Each year, neurological disorders cost the U.S. healthcare system nearly $800 billion. Traumatic brain injury, migraine, Alzheimer’s disease, and stroke account for $438 billion of this cost. Stroke affects more than 795,000 people in the United States, with one stroke occurring every 40 seconds on average; someone has a stroke every four minutes. Stroke is a time-sensitive condition that requires intervention within 24 hours of symptom onset. Inaccurate assessment of large-vessel stroke can lead to misdiagnosis and treatment delays, resulting in death or disability among stroke patients.

The Lucid M1 system is a battery-powered, medical-grade tablet device designed to rapidly monitor blood flow velocity in the cerebrovascular system across healthcare facilities and various clinical scenarios, thereby accelerating treatment. The system received FDA approval in April of this year and obtained CE certification in May.

The investigational NeuralBot accessory connected to the Lucid M1 system can use ultrasound to assess cerebral vasculature. This analysis is non-invasive, can be performed in a physician’s office, and helps clinicians evaluate cerebrovascular diseases. Research data provided by Neural Analytics indicate that there is no statistically significant difference between ultrasonic blood flow data collected using the NeuralBot system and data manually collected by trained technicians using conventional ultrasound platforms.

Leo Petrossian stated, “We conducted studies evaluating the NeuralBot accessory for the Lucid M1 system, which supports the use of transcranial Doppler (TCD) ultrasound in a broader range of care settings. This may help improve triage and diagnostic interventions, which are critical for brain health in patients with suspected neurological disorders.”

Alpha Edison is an early-stage venture capital firm that primarily invests in technology-driven innovative enterprises to build industry-transforming technology platforms. The firm is committed to sharing its research insights and expertise in business model innovation with its portfolio companies, helping founders create new markets, unlock latent demand, and scale businesses that change the world.