NovaSignal Secures $37 Million in Series C1

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LOS ANGELES, Sept. 28, 2021 (GLOBE NEWSWIRE) — NovaSignal Corp., a medical technology and data company specializing in the assessment and management of brain health, announced today it has closed $37 million in a Series C1 round of funding. The company will use the capital to support NovaSignal’s continued commercial expansion, consistent delivery of product innovation, and new clinical trials to increase indications within and beyond stroke. The funding round was led by Alpha Edison and Reimagined Ventures.

“Cerebral blood flow is a critical indicator of overall health, but it can be difficult to accurately assess. By applying robotics and artificial intelligence to ultrasound, NovaSignal uniquely captures cerebral hemodynamics in real time, enabling better and faster clinical decisions. The Series C1 funding is a strong endorsement of our technology and mission,” said Robert Hamilton, co-founder and Chief Scientific Officer of NovaSignal.

Over the last twelve months, NovaSignal delivered significant advancements to the healthcare industry. Launched in April, the fully autonomous and cloud connected NovaSignal Platform is transforming stroke programs across the country by reducing the complexity of performing crucial cerebral assessments. The company also broadened its commercial footprint beyond the U.S. and Europe with a Health Canada license approval.  

“We have witnessed NovaSignal’s robust growth and laser focus on harnessing blood flow data to improve patient outcomes. We are excited to once again back NovaSignal and believe that its innovative approach has the potential to revolutionize patient care across a variety of disease areas,” said Nick Grouf, Managing Partner at Alpha Edison.

“The transformative power of NovaSignal’s technology is clear. As a physician, I understand the importance of increasing access to safe and effective diagnostics for stroke. We look forward to NovaSignal’s continued momentum in delivering their platform into stroke programs across the US, Europe, and Canada,” said Dr. Ted Koutouzis, Managing Director at Reimagined Ventures.

“The healthcare industry recognizes the need for faster and more accurate stroke diagnosis. Stroke is an interruption of blood flow to the brain. The NovaSignal Platform autonomously captures and analyzes cerebral blood flow data through the application of robotics, AI, and cloud computing. It is the only solution capable of democratizing cerebral blood flow assessment. The NovaSignal Platform will improve the standard of care for stroke patients, and we are determined to drive availability to the millions of people in the U.S. that suffer from neurological conditions every year,” said Diane Bryant, Chair and CEO of NovaSignal.

About NovaSignal: Founded in 2013, NovaSignal Corp. is a medical technology company whose mission is to save lives by unlocking the power of cerebral blood flow data. The company’s FDA-cleared NovaGuide Intelligent Ultrasound combines non-invasive ultrasound, robotics, and artificial intelligence to assess cerebral hemodynamics in real time. Using cloud computing and data analytics, NovaSignal supports physicians in their clinical decision making in several neurological conditions including stroke, traumatic brain injury, and dementia. To learn more, visit novasignal.com.

About Alpha Edison: Alpha Edison is an early-stage venture firm that partners with courageous entrepreneurs to build industry-changing technology platforms. We share our research and expertise in business model innovation to help ambitious founders create new markets, unlock latent demand, and scale businesses that change our world – for the better. Based in Los Angeles, CA, you can learn more about us at www.alphaedison.com.

About Reimagined Ventures: Reimagined Ventures is an experienced and innovative family investment office which specializes in investing in, growing, and operating highly innovative companies across a variety of asset classes and industry sectors. Learn more at reimaginedventures.com.

Media Contacts:
Lerie Kane, VP, Marketing, NovaSignal Corp. lerie@novasignal.com
Theresa Masnik, SHIFT Communications novasignal@shiftcomm.com

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