Date: Aug 27, 2010 Source: Company Data
Alachua, FL --
Optima Neuroscience, Inc., a privately held medical device company focused on the development of brain monitoring technologies, announced today the close of a Series A financing round. The funding, in combination with strong grant support from the National Institute of Neurological Disorders and Stroke, will allow the Company to increase sales and marketing efforts for its software product, IdentEvent®, as well as to continue developing an innovative line of hardwarebased brain monitors. In late 2009, the Company achieved a critical milestone by successfully obtaining FDA marketing clearance for its first product IdentEvent®, an EEG review suite with automated seizure detection used by clinicians as an adjuvant tool to aid in the diagnosis and management of patients suspected of having seizure disorders.
President of Optima, Dr. Ryan Kern stated, “Thus far, grant funding has been critical for the success of Optima’s research initiatives. With this support from the angel investment community we will be able to continue development of our products while rapidly growing as a sales organization. Our researchers, engineers and business professionals are well versed at accomplishing the work of many with only a few; we look forward to adding new employees to the team.” Leading the investment is local angel group Emergent Growth Fund II (EGFII), a member-managed angel fund based in Gainesville, FL seeking to facilitate the early development of promising new technologies with a high likelihood of success in the marketplace.
In conjunction with the investment, EGFII member Mark Tanner joined the Optima Board of Directors, adding that “Optima represents an ideal opportunity for EGFII, where the focus is on companies in our region with an innovative technology, strong management team and can demonstrate a high likelihood of success.” A second angel group, the Ariel Savannah Angel Partners (ASAP) based in Savannah, GA, partnered with EGFII to complete the syndication of the financing. Regarding the investment ASAP remarked, "Dr. Ryan Kern and his team have made significant progress with their advanced seizure detection and prediction technology. They have methodically combined their advancement in medical science with the discipline necessary to run a successful business enterprise. While the months ahead are critical with regard to the achievement of their larger goals we have faith that Optima is on the correct path."
About Optima Optima Neuroscience is a medical device company producing a line of revolutionary brain monitoring products. Based in Alachua, FL, the company is commercializing technology originally invented by researchers at the renowned University of Florida McKnight Brain Institute. As pulse oximeters revolutionized the monitoring of lung function, Optima’s products will enable non-specialist care providers to rapidly and accurately obtain critical information about the status of the brain. Visit our website at www.OptimaNeuro.com. For more information about Optima Neuroscience, please contact Dr. Ryan Kern at rkern@optimaneuro.com or (352) 371-8281.
