CergenX raises €1.2m in funding to develop newborn brain screening
Summary
Cork-based medtech company CergenX has raised 1.2 million in funding to further develop its technology to screen newborns for brain injury.The funding was raised through a private financing round, with participation from high net worth individuals and existing investor Enterprise Ireland. It brings to 2 million the total raised by the company to date.The money will be used to support the development of the newborn brain screener, expanding its staff with roles in artificial intelligence, product management, and software engineering and accelerating the companys path to market.CergenX is a spin-out from the Infant Centre in UCC. These funds will enable us to complete the development of the newborn brain screener and launch the product pilots next year. This is incredibly exciting and rewarding work and we have a real opportunity to make a major difference in a vital area of newborn healthcare.Electroencephalography monitoring (EEG), the gold standard for assessing brain function in newborns, can be expensive and complex, with a shortage of trained specialists to interpret the results. said Prof Boylan.CergenX has identified a considerable market for the newborn brain screener, with the EU, UK, and the US among the initial targets, where there are more than 8 million births a year.
Funding
Review available funding amount, funding date, investors, and linked company information related to CergenX raises €1.2m in funding to develop newborn brain screening in the interactive ISVWorld profile.