US life sciences consulting firm and incubator invests in Cortical Dynamics Ltd
BPH Energy Limited (ASX:BPH) has announced that investee Cortical Dynamics has secured a $250,000 investment from IntuitiveX and Korean based VC investor, Gentium Partners.
Cortical is an Australian based medical device technology company that developed a next generation Brain Function Monitor and is now commercialising the intellectual property.
Its core product, the Brain Anaesthesia Response (BARM) System, was developed to better detect the effect of anaesthetic agents on brain activity.
IntuitiveX (www.intuitive-x.com) is a Seattle-based life science consulting firm and incubator that brings to Cortical extensive experience in the US capital raising and commercialisation arena and will assist Cortical in the FDA regulatory approval process.
The IntuitiveX management team is comprised of life science entrepreneurs, physicians, investors, and innovators and brings a combined 100+ years of experience in R&D, clinical, IP strategy, prototyping, product development, and commercialisation. It has investments in eleven MedTech, digital health, robotics to augmented reality, and 3-D printing to biotech.
Korean asset management company, Gentium Partners (GP) assists venture companies, particularly those in the startup stages, with mentoring and fund raising. GP prefers to invest in companies with innovative technologies and/or ideas, particularly when they are impactful in healthcare, environment, and lifestyle.
Mr Charles Chang and Mr Ashley Zimpel will join the Cortical board following the resignations of other Cortical directors, while BPH director David Breeze remains as a Cortical board member.
Cortical Dynamics is working with BPH Energy, which currently holds 4.38% of Cortical Dynamics, and Swinburne University of Technology to develop and commercialise a unique depth of anaesthesia monitoring system for use during major surgery.
Cortical’s BARM System is applied via an adhesive sensor to the forehead, to measure a patient’s brain electrical activity, the electroencephalogram (EEG), in order to indicate how deeply anaesthetised a patient is during an operation. This aids anaesthetists in keeping patients optimally anaesthetised, ensuring patients do not wake unexpectedly, and it reduces the incidence of side effects associated with the anaesthetic.
In addition to Cortical Dynamics, BPH has an investment in the medicinal cannabis space via Patagonia Genetics Pty Ltd. BPH Energy’s major investment is in Advent Energy Ltd, an unlisted oil and gas exploration and development company with onshore and offshore exploration and near-term development assets around Australia.