Neural Analytics Inc., a medical device maker based in Rancho Park, has been awarded a $10 million contract by the U.S. Army to help develop a portable kit to assess combat-related traumatic brain injuries, the company announced Tuesday.
The U.S. Army Medical Research and Materiel Command issued the contract to two companies to develop a mobile device within 18 months to measure and monitor moderate-to-severe brain injury during battle.
Neural Analytics will supply its Lucid ultrasound system to measure, diagnose and track brain health. The other contractor, Battelle, based in Columbus, Ohio, will provide the engineering to build a rugged portable unit that requires little training or maintenance.
“We believe our technology will be the first of its kind targeted for a military environment,” Leo Petrossian, co-founder and chief executive of Neural Analytics, said in a statement. “We believe our technology will be the first of its kind targeted for a military environment.”
He said research and development of the device would “significantly impact” civilian models now being used in emergency medical service settings. The company intends to supply the military version to the Department of Defense and commercialize the technology for civilian use.
Traumatic brain injuries are common in combat, according to the company. More than 370,000 service members have suffered injuries since the wars in Afghanistan and Iraq began in 2001.
Neural Analytics was founded in 2013 to create portable devices that allow first-responders and health care providers to measure, diagnose and track brain health, including strokes, trauma and dementia. Officials of the privately held company official did not immediately respond to a request for comment.
It began enrolling high school and college athletes in a clinical study to measure cerebral blood flow in patients suffering from mild traumatic brain injury in August as part of a $3 million National Institutes of Health grant.
In April, the firm sold $10.1 million in securities to 15 investors during a $25 million securities sales offer, according to a U.S. Securities and Exchange Commission filing. It has received more than $26 million in total funding.
Health business reporter Dana Bartholomew can be reached at email@example.com. Follow him on Twitter @_DanaBart.
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