We have first real time automated seizure detection software developed for pediatrics, with detection rates higher than trained physicians, which lowers testing costs substantially. Hundreds of thousands of children per year are not tested today primarily because of the shortage of trained personnel - a problem solved by our software.
The mathematics and signal processing software have been completed and outperform (by a large margin) all other products in this market segment. We are completing clinical user interface software. Two patents awarded. Physicians are discovering that many young hospitalized patients have potentially harmful seizures with no visible signs of a seizure. We detect these seizures more accurately and rapidly than any other product. With the shift to automation the time to complete a study is decreased by 80%, thereby decreasing costs dramatically and expanding access, with no decrease in quality of care. The technology is artificial intelligence based (AI) - the first in this class to be real time, thus permitting real time intervention decisions in the intensive care units. The product also has higher detection rates in elderly adults compared to existing products. FDA submission (510K) is pending.
The business model is software as a service. After software recognition of an event a trained physician makes the final determination of seizure categorization and treatment. For a typical 24 hour study the time savings is 80-90%. Distribution is through instrument companies, hospitals and outpatient EEG studies companies. The potential market is > $1B/yr.
Team leadership has cumulative more than 100 years experience caring for this population, have led programs in multiple large medical centers (e.g. University of Chicago, University of Wisconsin - Madison, Mercy Medical Center in Kansas, etc.). The team has multiple patents and have commercialized three products in the past. The founder has also grown multiple organizations and led one of the most successful neurology instrument companies in the United States. We currently have five software engineers (two with Ph.D.s), a legal team, a marketing team and hospital based sales members. We need to build distribution, complete more clinical demonstration projects and begin paying the leadership team. This product is a game-changer for children! Currently negotiating with three EEG mfgs. and second largest ambulatory company in U.S.A.
More detailed information is available upon request.
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