Richmond’s BrainBox Solutions said Monday it has secured initial investments for a new Series B round led by San Francisco’s Genoa Ventures.
The size of the round was not revealed. The Richmond company said the round includes additional existing and new investors.
BrainBox said it will use the fresh funding to support the pursuit of U.S. regulatory clearance and the commercialization of its traumatic brain injury test in adults and the completion of a clinical study in pediatric patients.
CEO Donna Edmonds said in a statement her company is working with partners to determine “the fastest path to market for use in both point-of-care and emergency department settings.” It has partnered with USA Hockey to evaluate biomarkers in blood and saliva for concussion in elite girls and boys high school hockey players. That study will inform BrainBox’s development of its pediatric test.
The company is also developing traumatic brain injury tests for geriatric patients through a National Institutes of Health grant.
The company says its TBI tests are the first to integrate physiologic and functional testing, and provide objective criteria, to diagnose and assess the prognosis for concussion patients.
BrainBox raised a $23 million Series A round announced in late 2020. That round was led by Massachusetts-based BioVentures Investors and included participation from Genoa, the Tauber Foundation of Bethesda, the Virginia Tech Carilion Innovation and Seed Funds, New York’s Pharmakon Holdings LLC, San Francisco’s Astia Angels and additional investors, including NBA All-Star Kevin Love.
It amended that Series A filing in February 2022 to state it moved the ceiling of the Series A to $28 million.
