BrainCheck Secures $15 Million to Fuel Expansion and Adoption of its Next Generation Digital Cognitive Assessment and Care Planning Platform

New financing round, led by Next Coast Ventures, S3 Ventures, and UPMC Enterprises, positions Company for continued growth, innovation, and integration 

BrainCheck expands Board of Directors with appointment of Nicholas Shapiro as New Board Member, further strengthening the Company's strategic leadership

AUSTIN, Texas, March 6, 2024 /PRNewswire/ -- BrainCheck, Inc., a digital health innovator delivering first-of-its-kind technology into the growing digital cognitive assessment market, today announced a $15 million new financing round, led by Next Coast Ventures, S3 Ventures, and UPMC Enterprises, the innovation, commercialization, and venture capital arm of UPMC. The Company also expanded its Board of Directors with the appointment of Nicholas Shapiro, Vice President, UPMC Enterprises, as a new board member, further strengthening the Company's strategic leadership.

The funding will accelerate BrainCheck's commercial traction, expand innovation within its product portfolio, build upon existing clinical evidence, and extend the Company's impact throughout the healthcare landscape, including major integrations with healthcare systems. This announcement follows the recent launch of BrainCheck's next generation platform and 3-minute screening solution, which empowers clinicians to screen and monitor patients' cognitive function anytime, anywhere.

"We are laser focused on commercializing and scaling a digital cognitive assessment platform that is clinically robust, easy for patients and their caregivers to use, enables a simplified provider experience and improves access to the actionable information needed to intervene sooner and potentially combat cognitive decline," said Kim Rodriguez, CEO of BrainCheck. "We thank our current and new investors for their continued support and look forward to deploying this capital to play an important role in revolutionizing cognitive care."

"We believe in BrainCheck's vision to pioneer a fundamental shift in how cognitive care is delivered," said Michael Smerklo, Co-Founder and Managing Partner of Next Coast Ventures. "Dementia is projected to impact 14 million people in the United States and 152 million globally in the coming decades, underscoring the importance of proactive measures to address prevention, early detection, and effective management strategies.^i,ii"

Trusted by hundreds of the country's most prestigious providers and specialists, BrainCheck's clinically proven platform is the most comprehensive solution commercially available across the cognitive care continuum, streamlining screening, assessment, care planning and monitoring.

"Our decision to invest in BrainCheck is fueled by a deep understanding of the pressing burden of cognitive impairment on health care and the exciting solutions on the horizon to advance the industry. I am honored to join BrainCheck's Board of Directors and look forward to working collaboratively with the team to drive strategic initiatives and shape the future growth trajectory of the Company," said Nicholas Shapiro, Vice President, UPMC Enterprises. "BrainCheck's solutions offer rapid, reliable resources to support accurate assessments, stratify individual risk, and deliver actionable insights that can help all stakeholders - patients, caregivers, providers, and risk-bearers."

For more information about BrainCheck and its innovative cognitive assessment solutions, please visit www.braincheck.com.

About BrainCheck
To learn more, please visit braincheck.com.

Contact:
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ⁱ 2022 Alzheimer's disease facts and figures. Alzheimers Dement. 2022 Apr;18(4):700-789. doi: 10.1002/alz.12638. Epub 2022 Mar 14. PMID: 35289055.

ⁱⁱ GBD 2019 Dementia Forecasting Collaborators: "Estimation of the global prevalence of dementia in 2019 and forecasted prevalence in 2050: an analysis for the Global Burden of Disease Study 2019." The Lancet Public Health, January 6, 2022.

SOURCE BrainCheck, Inc.