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Brain Scientific

Brain Scientific gains traction with two novel medical-grade EEG devices

Snapshot

Brain Scientific’s EEG technology is far cheaper and less bulky than a traditional EEG system, but provides EEG tracings of the same quality

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Quick facts: Brain Scientific

Price: £0.00

Market: NYSE
Market Cap: £0.00
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  • Brain Scientific is a tech company with two main products used to detect problems related to the brain’s electrical activity: NeuroCap, a disposable EEG headset; and NeuroEEG, a 16-channel portable EEG amplifier

  • Brain Scientific’s EEG technology is cheaper and less bulky than a traditional EEG system, but provides EEG tracings of the same quality

  • The New York City-based company started bringing in revenue at the end of 2018 and expects to see significant sales before the end of 2019


What Brain Scientific does

Brain Scientific Inc is a healthcare-focused technology company based in New York City that markets a pair of products used to detect problems related to the brain’s electrical activity. It is the creator of the NeuroCap, a disposable EEG headset, as well as the NeuroEEG, a 16-channel portable EEG amplifier.

The company acquired these devices via its acquisition of another tech company MemoryMD in September of 2018.

Brain Scientific’s EEG technology is far cheaper and less bulky than a traditional EEG system, but provides EEG tracings of the same quality.

NeuroCap is a pre-gelled disposable EEG headset with 22 electrodes and 19 active EEG channels.

The cap provides high-quality EEG tracing within minutes when put into use at neurology clinics, urgent care clinics and sports facilities as well as nursing and assisted living homes.

NeuroCap works in  parallel with Brain Scientific’s NeuroEEG amplifier device, a compact, portable and wireless EEG device that fits in the palm of the hand and is used to record, transmit and display electrical brain activity.

A disposable NeuroCap is only used once whereas the standard reusable EEG headsets must be sterilized after each use. Another advantage is that the NeuroCaps can be put on by clinical staff at any level and don’t require EEG professionals to apply the electrodes.

Details of new tie-ups

In one of its latest partnerships, Brain Scientific recently announced that Virginia Tech is using its NeuroCap as well as its NeuroEEG to treat its athletes. The tools are being used by the athletic department at Virginia Tech as additional test to quickly diagnose concussions and other traumatic injuries to the brain and improve treatments.

The pair of devices can be carried to both the playing field and the locker room.

In another advance, a Texas market research firm called Marketing Brainology has also adopted the company’s two medical-grade EEG devices to accurately measure emotional responses to marketing content. The firm, for example, recently used Brain Scientific’s tools to evaluate television watchers' emotional engagement with Super Bowl advertisements.

In its efforts to zero in on the science of human-decision making, the Texas company previously used a 64-channel EEG system that was bulky, difficult to operate and expensive for its research.

Michelle Adams, founder and president of Marketing Brainology, is glad to have made the change to BrainScientific's more modern EEG tools.

“The [16-channel device] is still more than we need, but not overdoing it,” said Adams in a statement. “Anyone who is used to the old technology would be in heaven with the MemoryMD product.”

What’s its financial picture?

The New York company started bringing in revenue at the end of 2018 and expects to see significant sales before the end of 2019 after making some revisions to its product offerings.

What the CEO says

CEO Jesse Crowne expects Brain Scientific will be profitable within five years and is looking to eventually have two to three versions of its EEG device on the market. The company is also working on pedriatic EEG caps and on a solution for long-term EEG monitoring. 

“The first piece of the puzzle is getting the data that will convince doctors to start using the device and I think we’ll be able to do that pretty quickly,” says Crowne. “In five years time, we will absolutely be profitable. … We will be building the world’s largest database of EEGs and we will be doing artificial intelligence analysis of both a normal population and a diseased population.”

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