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Brain Scientific gains traction with two novel medical-grade EEG devices

Snapshot

Brain Scientific’s EEG technology is far cheaper and less bulky than a traditional EEG system, but provides EEG tracings of the same quality

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Quick facts: Brain Scientific

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NYSE:BRSF
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  • Offers two main products used to detect problems related to the brain’s electrical activity
  • NeuroCap is a disposable EEG headset; NeuroEEG is a 16-channel portable EEG amplifier
  • Technology cheaper and less bulky than a traditional EEG system, provides tracings of the same quality
  • New York City-based company expects to see significant sales before the end of 2019

What Brain Scientific does:

Brain Scientific Inc is a healthcare-focused technology company based in New York City that markets a pair of products used to detect problems related to the brain’s electrical activity. It offers the NeuroCap, a disposable EEG headset, as well as the NeuroEEG, a 16-channel portable EEG amplifier.

The company acquired these devices via its acquisition of another tech company MemoryMD in September 2018.

Brain Scientific’s technology is far cheaper and less bulky than a traditional EEG system, but still provides tracings of the same quality.

NeuroCap is a pre-gelled disposable EEG headset with 22 electrodes and 19 active EEG channels.

The cap provides high-quality EEG tracing within minutes when put into use at neurology clinics, urgent care clinics and sports facilities as well as nursing and assisted-living homes.

NeuroCap works in parallel with Brain Scientific’s NeuroEEG amplifier device, a compact, portable and wireless EEG device that fits in the palm of the hand and is used to record, transmit and display electrical brain activity.

A disposable NeuroCap is only used once whereas the standard reusable EEG headsets must be sterilized after each use. Another advantage is that the NeuroCaps can be put on by clinical staff at any level and don’t require EEG professionals to apply the electrodes.

How is it doing:

In one of its latest partnerships, Brain Scientific recently announced that Virginia Tech is using its NeuroCap as well as its NeuroEEG to treat its athletes. The tools are being used by the athletic department at Virginia Tech as an additional test to quickly diagnose concussions and other traumatic injuries to the brain and improve treatments.

The pair of devices can be carried to both the playing field and the locker room.

In another advance, a Texas market research firm called Marketing Brainology has also adopted the company’s two medical-grade EEG devices to accurately measure emotional responses to marketing content. The firm, for example, recently used Brain Scientific’s tools to evaluate television watchers' emotional engagement with Super Bowl advertisements.

In its efforts to zero in on the science of human-decision making, the Texas company previously used a 64-channel EEG system that was bulky, difficult to operate and expensive for its research.

The company has forged a partnership with the University of Utah to design several studies to analyze pain in both animal and human subjects. The group says it can quantify such pain analysis with an EEG. 

Brain Scientific is also working with a pediatric group that’s developing an autism study. The company has been tasked to create a pediatric cap that would allow researchers to capture several data points or biomarkers, which would be correlated with patients who develop autism a little later in life. 

During the summer, the company showcased two of its US Food and Drug Administration-cleared devices at the Neurodiagnostic Society's annual conference, a key industry event, in Kansas City.

Brain Scientific started bringing in revenue at the end of 2018 and expects to see significant sales before the end of 2019 after making some revisions to its product offerings.

Inflection points:

  • Secure a cloud-based, scalable infrastructure to transmit diagnostic data via portable devices between teleneurologists and their patients
  • Develop an artificial intelligence-assisted diagnostic analysis to increase teleneurologist efficiency, consistency and accuracy
  • Market to healthcare firms and insurance providers as well as data and tech companies

What the boss says:

Brain Scientific's CEO Jesse Crowne has commented: “The first piece of the puzzle is getting the data that will convince doctors to start using the device and I think we’ll be able to do that pretty quickly.“

"In five years time, we will absolutely be profitable … We will be building the world’s largest database of EEGs and we will be doing artificial intelligence analysis of both a normal population and a diseased population.”

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