Israeli medtech startup BrainQ offers new technology for stroke therapy technology. BrainQ just raised $40 million in a new funding round led by Hanaco Ventures, along with Dexcel Pharma, and Peregrine Ventures. The round brings the total funding raised by the company to over $50 million to date.
Founded by CEO Yotam Drechsler and CINO Dr. Yaron Segel, BrainQ is pioneering a novel therapy for reducing disability and enhancing the recovery potential for stroke victims at home. The company is conducting clinical trials in top medical centers worldwide and has secured patents in all major global markets.
The BrainQ technology is limited to investigational use only and is not approved or available for sale in the United States.
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In recent years Israel has become known as the startup state or Startup Nation. The country has had multi-billion dollar exits for numerous software and security companies. But Startup Nations is also known for its medtech startups. Israel has always been a center for medical research and innovation. Now put that together with its startup culture and you have medtech nation.
The Mayo Clinic explains that a stroke occurs when the blood supply to part of your brain is interrupted or reduced, preventing brain tissue from getting oxygen and nutrients. Brain cells begin to die in minutes. A stroke is a medical emergency, and prompt treatment is crucial. Early action can reduce brain damage and other complications
Stroke is one of the leading causes of disability, explains BrainQ, affecting 800,000 people every year in the United States alone. In the days and weeks following stroke, the brain attempts to repair damaged neural pathways and develop new ones to restore function, but often with limited success. This results in chronic disability for about 50-70% of survivors.
— dinsmore/steele (@dinsmore_steele) August 16, 2021
BrainQ Co-Founder and CEO Yotam Drechsler thanked the company’s new investors for their support and said, “There have been great advancements in developing ways for increasing the survival rate following stroke, but stroke has remained the leading cause of long-term disability, which poses a significant societal challenge. With the new funding and strong research partners, we are entering our pivotal study with the goal of significantly increasing the window of opportunity for reducing disability following stroke and enhancing the recovery potential – something that can impact the lives of so many.”