BETHESDA, Md., Oct. 6, 2021 /PRNewswire/ -- Brain-assessment
device innovator BrainScope, and Aon plc (NYSE: AON), a leading
global professional services firm, today announced the completion
of an intellectual property-based funding arrangement. The funding
arrangement provides BrainScope with up to $35 million in capital to fund the full expansion
of its commercial activities as well as to develop new clinical
applications on its platform.
"More than four million patients seek care each year at hospital
emergency departments for mild traumatic brain injuries. BrainScope
is the only FDA-cleared technology that can objectively assess both
brain bleeds and concussions in minutes and bring the needed
diagnostic insights to help steer these patients to appropriate
care," said Susan Hertzberg, CEO of
BrainScope. "We are thrilled that we will be able to expand our
commercial footprint to reach more hospitals and connect with
concussion centers in light of the real need for objective
detection of brain injury. BrainScope will collaborate with Aon in
order to leverage its significant intellectual property
expertise and innovative capital solutions while
furthering BrainScope's mission to transform patient care in brain
injury and disease."
BrainScope's proprietary system consists of disposable headsets
that connect to its handheld device, which acquires, processes, and
extracts thousands of brain activity-based physiological parameters
characterizing the EEG signal, transforming them into an actionable
result through artificial intelligence derived algorithms. The
non-invasive, true point-of-care BrainScope assessment takes less
than 20 minutes from patient prep to results enabling doctors to
get rapid, objective insights about the likelihood of brain bleeds
and concussions. In concussion management, the Concussion
Index is the first physiological marker of concussive injury that
aids clinicians in the objective assessment of patients at time of
injury, and which can be reliably used to interpret change
overtime.
"Innovation is the key to a growth economy, but intangible
assets are the foundation. That is why we are bringing unique
solutions to the market to help growth stage companies like
BrainScope maximize the value of their intellectual property," said
Lewis Lee, CEO of Aon's Intellectual
Property Solutions. "We are excited to help IP-rich companies like
BrainScope unlock the value of these assets and provide them
greater access to capital so they can further pursue their growth
ambitions without diluting their ownership."
Aon is bringing solutions to the market that help companies
avoid capital raises that can result in dilution of equity value.
Aon's Intellectual Property (IP) Solutions team combined its
proprietary IP valuation tools and a collateral protection
insurance policy to help create an IP-collateralized debt structure
that allowed BrainScope to raise additional funds without diluting
the current equity value. IP and intangible assets now represent 90
percent of the value of Fortune 500 companies, but IP value is not
widely understood in capital markets. Aon is working with companies
like BrainScope to help them seek access to non-dilutive growth
capital by valuing intangible assets and structuring capital
solutions that leverage such value.
About BrainScope
BrainScope is a medical neurotechnology company that is
improving brain health by providing objective, diagnostic insights
that enable better patient care. BrainScope is leading the way in
the rapid and objective assessment of brain-related conditions,
starting with mild traumatic brain injury (mTBI), utilizing
multiple integrated assessment capabilities, artificial
intelligence (AI), and digitization. The company's technology
supports the American College of Emergency Physicians (ACEP)
Choosing Wisely® campaign to avoid CT scans of the head in
emergency department patients with minor head injury. BrainScope's
innovative EEG-based, AI-derived algorithms empower physicians to
quickly make accurate head injury assessments, addressing the full
spectrum of traumatic brain injuries from structural (brain bleed)
to functional (concussion) injuries, providing for the first time a
full picture of the injury, and doing so in less time and without
radiation. For more information, please visit
www.brainscope.com.
About Aon
Aon plc (NYSE: AON) exists to shape decisions for the
better — to protect and enrich the lives of people around the
world. Our colleagues provide our clients in over 120 countries
with advice and solutions that give them the clarity and confidence
to make better decisions to protect and grow their
business.
Follow Aon on Twitter and LinkedIn. Stay
up-to-date by visiting the Aon Newsroom and sign up for
News Alerts here.
Media Contacts:
Cherie Lucier, BrainScope Company
Inc.
VP, Brand Experience
cherie.lucier@brainscope.com
+1 215.805.0131
Nadine Youssef, Aon
Global Media Relations
mediainquiries@aon.com
+1 833.751.8114
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