RICHMOND, VIRGINIA, UNITED STATES, May 1, 2023/EINPresswire.com/ — Virginia Venture Partners, the equity investment program of Virginia Innovation Partnership Corporation (VIPC), today announced an investment in BRAINBox Solutions. Richmond, Va.-based BRAINBox Solutions provides a comprehensive solution to those with a traumatic brain injury. BRAINBox will use this investment to complete its initial clinical study supporting its FDA submission and commercial launch.
Traumatic brain injury (TBI) is an expanding public health concern, specifically those who engage in sports activity and the military population. A TBI impacts each individual differently, making the condition difficult to diagnose, monitor and treat effectively. Those who suffer from a TBI have long-term issues, whether it’s a missed diagnosis or returning to their work or play environment too soon without proper intervention. BRAINBox Solutions is a multi-modality test which includes neurocognitive testing to be used in hospitals, urgent care or clinics, to help provide objective evidence of this injury and prediction of patient recovery.
“Our brains define every aspect of who we are, so the consequences of a brain injury can affect all aspects of our lives. Even a common concussion is often invisible and underdiagnosed,” says Donna J. Edmonds, CEO of BRAINBox Solutions. “We are grateful for the opportunity to help individuals accurately diagnose and treat their brain injury, and we are grateful for VIPC’s Virginia Venture Partners investment to support our company in this important journey.”
Using a small sample of blood, the BRAINBox point of care (or lab based) device will run a panel of TBI-associated blood-based biomarkers. Then, the BRAINBox panel is analyzed in tandem with a neurocognitive assessment on a tablet or mobile device. These biological and functional measurements are utilized by the BRAINBox algorithm to provide a simple, and easy to read, BRAINBox TBI score. This score helps determine if patients are approved to resume original activities, or if more intensive care is needed.
“Together, the BRAINBox team collectively has over 10 decades of experience in the industry. The team is dedicated to ensuring that accurate diagnoses and treatment is available for individuals with a traumatic brain injury,” says Alex Euler, Senior Investment Director of Virginia Venture Partners. “BRAINBox is providing the first product that provides a prognosis report on a patient’s likelihood of post-injury symptoms, and we are honored to contribute to their success in this journey.”
VIPC’s investment in BRAINBox Solutions draws upon funds made available through the U.S. Treasury Department State Small Business Credit Initiative (SSBCI) Program.
About BRAINBox Solutions
BRAINBox Solutions, Inc is developing the first AI‐enabled, multi‐modality approach for the diagnosis and prognosis of Mild Traumatic Brain Injury, commonly referred to as a concussion. The company seeks to establish a clinical best‐practice standard for the diagnosis and prognosis of concussion. The product incorporates a panel of proprietary, patented blood biomarkers that can be read in a few moments on a point‐of‐care instrument or using standard laboratory systems, as well as neurocognitive testing, to provide a single‐system score that measures the severity of the injury and post-concussive symptoms. The company is led by key physician and scientific thought leaders in the field and an experienced, clinically focused management team. Learn more at: www.brainboxinc.com
About Virginia Venture Partners Virginia Venture Partners, is the equity investment program of VIPC that makes seed-stage equity investments in Virginia-based technology, clean energy, and life science companies with a high potential for achieving rapid growth and generating a significant economic return for entrepreneurs, co-investors, and the Commonwealth of Virginia. Since its inception in 2005, Virginia Venture Partners has deployed $41.8 million in capital across more than 275 portfolio companies, including 17 companies in designated Opportunity Zones. Virginia Venture Partners’ investment decisions are guided by the Virginia Venture Partners Investment Advisory Board (IAB). This independent, third-party panel has drawn from the expertise of leading regional entrepreneurs, angel, and strategic investors, and venture capital firms such as New Enterprise Associates, Grotech Ventures, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For more information, please visit: www.virginiaipc.org
About Virginia Innovation Partnership Corporation (VIPC)
VIPC: Connecting innovators with opportunities | As the nonprofit operations arm of the Virginia Innovation Partnership Authority (VIPA), VIPC is the commercialization and seed stage economic development driver in the Commonwealth that leads funding, infrastructure, and policy initiatives to support Virginia’s innovators, entrepreneurs, startups, and market development strategies. VIPC collaborates with local, regional, state, and federal partners to support the expansion and diversification of Virginia’s economy.
Programs include: Virginia Venture Partners (VVP) | VVP Fund of Funds (SSBCI) | Virginia Founders Fund (VFF) |Commonwealth Commercialization Fund (CCF) | Petersburg Founders Fund (PFF) | Smart Communities | The Virginia Smart Community Testbed | The Virginia Unmanned Systems Center | Virginia Advanced Air Mobility Alliance (VAAMA) | The Public Safety Innovation Center |Entrepreneurial Ecosystems | Regional Innovation Fund (RIF) | Federal Funding Assistance Program (FFAP) for SBIR & STTR | University Partnerships | Startup Company Mentoring & Engagement. For more information, please visit www.VirginiaIPC.org. Follow VIPC on Facebook, Twitter, and LinkedIn.
Angela Costello, Vice President of Communications
Virginia Innovation Partnership Corporation (VIPC)
angela.costello@VirginiaIPC.org