SOURCE: Cerora, Inc.

Cerora, Inc.

April 07, 2014 09:05 ET

Cerora, Inc. Announces First Close on Initial Seed Round of Financing

Supports Proprietary 'Near the Field' Objective Concussion Evaluation Technology

BETHLEHEM, PA--(Marketwired - Apr 7, 2014) - Cerora, Inc., a StartUp Health / GE Healthcare Entrepreneurship program and Ben Franklin Technology Partners of Northeastern Pennsylvania company, today announced a first closing of its initial seed financing round. These initial funds will support the development of the company's first software product, debuting later this month at the Annual Meeting of the American Academy of Neurology in Philadelphia, and for development and marketing of its hardware/software solution for delivering objective brainwave biosensor data to help evaluate sports concussions right 'near the field' of play.

"Objective data -- provided rapidly, near the athletic field -- would empower field clinicians with a considerable advantage over current assessments which are typically based solely on subjective clinical impressions," stated Adam J. Simon, Cerora CEO.

"Reaching this initial financial milestone has been a priority for our team over the past several months," Simon added. "With this initial funding and investor commitments received to date that we hope to fulfill in the next several weeks, our development and commercialization plans can now shift into high gear."

Cerora's proprietary MindReader™ multi-modal biosensor technology is designed to enable professionals to gather truly objective diagnostic information, which, along with neuropsychological performance data, self-reporting of symptoms, and additional biosensor-based measures, should lead to more accurate determinations.

This first round of investment includes participation from Cerora co-founder David M. Devilbiss, PhD and Cerora Scientific Advisory Board member Stephen J. Martino, MD, Board Certified Neurologist at Monmouth-Ocean Neurology and Meridian Health.

"I am truly excited to be able to support our company in a number of different ways and I believe in its ability to transform healthcare today and tomorrow," commented Dr. Devilbiss.

"It's exciting to invest in a company offering the most innovative and clinically applicable, neurological technology I've seen since graduating medical school in 1988," remarked Dr. Martino. "The technology provided by Cerora may potentially change how neurology is practiced in the 21st century."

Cerora intends to develop additional applications of the MindReader™ technology for neurodegenerative conditions (such as cognitive impairment and Alzheimer's disease), developmental conditions (such as Autism), and other brain-affecting conditions where, the company believes, portable, rapid development of objective data will prove to be key to early diagnosis and with the hope of improved patient outcomes.

About Cerora
Cerora is leading the way in the development and testing of the software and hardware technologies needed, including on the Google Glass platform, to deliver critically important, objective, portable biomarker-based brain-function diagnostic information to empower health care professional's decisions. Located in the high-tech nexus at Ben Franklin Technology Partners of Northeastern Pennsylvania's TechVentures on Lehigh University's Mountaintop Campus in Bethlehem, Pennsylvania, the company has assembled a team of experienced scientists and management professionals under the leadership of CEO Adam J. Simon, PhD, a noted physicist and globally-recognized brain biomarker expert.

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