OSF Ventures, the innovation investment arm of Peoria, Ill.-based OSF HealthCare, joined a $12.5 million funding round for Epitel, a company that makes a wireless, wearable brain wave- monitoring device to detect seizures.
The device uses an adhesive that discreetly sticks to a patient's scalp. The device has been approved by the FDA for in-hospital use, and Epitel plans to seek approval for its use across a variety of patient care settings, according to a March 10 news release from OSF HealthCare.
"This technology really helps break down access barriers because it will not only reduce the time to electroencephalogram initiation, but the sensors and monitoring software give rural hospitals that do not have electroencephalogram resources the ability to screen patients suspected of seizure activity, in lieu of immediately requiring transfer to a larger tertiary hospital," Liridon Rrushaj, director of venture investments for OSF Ventures, said in the news release.
OSF Ventures said it will collaborate with Epitel to further develop its platform as the company works to commercialize it.