CoMind Secures $102.5M for Non-Invasive Brain Monitoring Device

In a significant development for neurological care, CoMind has raised $102.5 million to advance its innovative non-invasive brain monitoring technology. The company aims to revolutionize bedside neurological assessment with a device that could provide real-time insights into brain health without the need for invasive procedures.

Groundbreaking Technology

CoMind's device utilizes technology similar to Lidar, which is commonly found in self-driving cars. The system features a small, adhesive sensor placed on the patient's forehead, which captures reflected light as a laser passes through the brain. By combining this reflected light with a reference arm, CoMind's technology aims to measure a range of neurophysiological parameters, including brain blood flow, oxygenation, and intracranial pressure.

This approach stands in contrast to current methods of measuring intracranial pressure, which often require drilling a hole in the patient's skull to insert bolts or external ventricular drains. While imaging techniques can measure blood flow and oxygen, they cannot provide continuous bedside monitoring. CoMind asserts that existing non-invasive options are inaccurate and may compromise treatment decisions.

Clinical Progress and Market Outlook

The company is currently enrolling patients in an early feasibility trial, having already posted data from healthy volunteers. With the substantial funding secured, CoMind is positioning itself to advance through regulatory approvals, targeting a market launch in 2027.

James Dacombe, the founder of CoMind, has been instrumental in the company's development. In 2022, at the age of 21, Dacombe received $100,000 from the Thiel Fellowship, a program established by tech billionaire Peter Thiel to support young entrepreneurs in lieu of traditional college education.

Investment Details

The $102.5 million funding round was led by Plural, with participation from existing investors including Angelini Ventures, LocalGlobe, Octopus Ventures, Crane, Backed VC, and Entrepreneurs First. This significant investment underscores the potential impact of CoMind's technology on neurological care and the confidence investors have in the company's vision.

As CoMind progresses towards its goal of bringing non-invasive, accurate brain monitoring to the bedside, the medical technology industry will be watching closely to see how this innovation may transform the landscape of neurological assessment and treatment.