HealthTech Connex secures $2M financing from BDC Capital
Canadian HealthTech Connex has secured $2 million in growth financing from BDC Capital to expand marketing of its NeuroCatch Platform brain health measurement device.
Canadian health technology firm HealthTech Connex has received $2 million in non-dilutive growth financing from BDC Capital. The funds will support the company's NeuroCatch Platform brain health measurement device, enabling expanded marketing efforts and a pursuit of U.S. market clearance.
The NeuroCatch Platform, developed by HealthTech Connex, is a portable and cost-effective device that measures brainwaves and outputs event-related potential (ERP) information. ERP measurements are widely used in the diagnosis and treatment of various neurological conditions, including concussions, dementia, and post-traumatic stress disorder (PTSD).
The new financing will facilitate the launch of the latest version of the NeuroCatch Platform, enhance sales and marketing initiatives, and fund ongoing research and development. The BDC Capital funding is structured as a patient and flexible mezzanine loan with a repayment plan tied to the company's success.
"We are excited about the partnership with BDC Capital, as it greatly strengthens our ability to positively impact a billion brains," said Kirk Fisher, CEO of HealthTech Connex. "NeuroCatch is deployed clinically across Canada and is used in leading medical research centers for objective cognitive evaluation."