Ceribell Announces Completion of $53 Million Series C Financing for Portable EEG that can Diagnose Seizures in Minutes

Rothwell, Figg, Ernst & Manbeck, P.C.

On April 29, 2021, Mountain View, California-based startup Ceribell, Inc. announced the completion of a $53 million Series C financing, co-led by Longitude Capital and The Rise Fund. Other new investors include RA Capital Management, Redmile Group and Red Tree Venture Capital, with additional support from existing shareholders.

Ceribell, Inc. is the innovator of the Rapid Response EEG™, a novel non-invasive brain monitor designed to address the need for faster diagnosis in patients with suspicion of seizure. The Rapid Response EEG received FDA 510(k) clearance in 2017 and is commercially available in the United States. In 2018, Ceribell launched the Clarity ™ machine learning algorithm, which allows 24/7 bedside EEG monitoring and alerting for seizures. Ceribell’s EEG system reduces the time from ordering EEG to set-up from an average of 4 hours to under 10 minutes and allows seizures to be diagnosed in minutes.

The growing company will use the Series C proceeds to expand Ceribell’s commercial footprint in emergency departments and intensive care units globally. In addition, Ceribell will continue to leverage the power of machine learning and easy EEG accessibility for other neurological conditions beyond seizures.

“Through user- and patient-friendly design, AI data analysis, and cloud technology, Ceribell is redefining neurological care and driving positive health care outcomes,” said Lucian Iancovici MD, Managing Director at TPG Growth and The Rise Fund. “We are very excited to continue to support the company’s momentum and establish the Rapid Response EEG system as the standard of care for patients who experience seizures.”

Here are some reports relating to this deal for your reference: AP News | Biospace | Fierce Biotech

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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