Epitel has raised $12.5m in a Series A financing round to support the initial pilot and further development of its advanced monitoring platform for seizure detection, dubbed REMI.
Led by Catalyst Health Ventures (CHV) and Genoa Ventures, the investment round also seen participation from Dexcom and OSF Ventures, Wavemaker 360, MedMountain Ventures and Salt Lake City Angels.
As part of the transaction, Genoa Ventures principal Vikram Chaudhery and CHV managing partner Joshua Phillips will be appointed to the Epitel Board of Directors.
Also, Dexcom founding CEO Andy Rasdal, and Domain Associates partner Kim Kamdar will be appointed as Epitel board executive chairman and independent director, respectively.
Prior to the latest funding round, Epitel has been mainly supported through grants of more than $7.5m received from the NIH and Epilepsy Foundation .
Genoa Ventures principal Chaudery said: “It is time that EEGs for the brain become as accessible as EKGs for the heart to patients throughout the country. For too long essential neurological services have been inaccessible to large parts of our population.
CHV managing partner Phillips said: “Epitel’s technology platform stands out as the first EEG system that may with further development more seamlessly support a seizure patient from the hospital to the home while integrating into existing physician and hospital workflows.”
REMI is a wireless and wearable EEG sensor and remote access software, intended for use within hospital emergency rooms and critical care units.
Last year, the digital health company has secured the US Food and Drug Administration (FDA) approval for its REMI platform.
REMI’s wearable, wireless sensors are designed for quick and easy application by a nurse or hospital technician.
The device then immediately gets remotely connected to a cloud-based software platform to send EEG data to neurologists for review and monitoring for seizures.
The wearable and wireless system is designed to continuously monitor the patient continuously for 48 hours during their hospital journey, said the company.
Epitel chief executive officer Mark Lehmkuhle said: “Epitel’s first FDA-approved product, REMI, has the potential to revolutionise the diagnosis, treatment, and management of seizures within the hospital.
“With Epitel, patients, no matter their geography, may have access to essential EEGs during the most critical times of need. We intend to further expand our product pipeline for use outside the hospital by people living with epilepsy and other seizure conditions.
“We are honored to have the support of Catalyst Health Ventures, Genoa Ventures, and a strong investment syndicate in our first financing.”
