BOWIE, Md., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Epilepsy Foundation announced today it has awarded $200,000 in funding for two startups who competed in the Foundation's 2024 Shark Tank Competition held during the Epilepsy Foundation's Pipeline Conference in Atlanta. A $125,000 prize, comprised from both our audience voting and awarded from our sharks was given to John Terry, founder and managing director, Neuronostics to develop a digital biomarker for epilepsy diagnostic decision support with the goal of improving time to diagnosis. A $75,000 prize was awarded to Ruben Kuzniecky, M.D., co-founder, Neuroview Technology for development of a small implantable subcutaneous long-term brain monitor using electroencephalography (EEG) to record and analyze seizure activity.
"The competition was incredible, and the innovative technology presented to us was even more impressive,” said Bernice "Bee” Martin Lee, chief executive officer, Epilepsy Foundation. Lee also served as a judge for this year's competition. "Our decision was difficult to make, but I'm so impressed by every finalist that presented. I'm certain each will make an exceptionally positive impact on the epilepsy community.”
Inspired by the television show "Shark Tank,” the annual competition invites entrepreneurs from around the world to pitch their products and compete for funding. The winners, selected by a panel of "sharks,” will use the funding in the development and commercialization of a new product, technology, or therapeutic concept to benefit the epilepsy community.
"Each year, we award seed funding to advance novel concepts through the pipeline that showcases real potential for improving the lives of people with epilepsy,” said Jacqueline French, M.D., chief medical and innovation officer, Epilepsy Foundation. "This year's winners hold significant technological promise as we continue to support innovation for unmet needs for our community.”
The winner is selected by a panel of expert judges representing physicians and scientists, corporate executives, leading industry investors, people with epilepsy, and advocates. This year's finalists included:
- Truman Pierson, chief executive officer, Theta Neurotech. Pierson is developing a wearable seizure forecasting system to alert patients and caregivers of the likelihood of a seizure within a 30-60-minute window before it happens.
- Vicente Garção, founder, LAMPSY. Garção developed an invisible, video-based seizure detection device that fits inside a lamp, not a wearable.
- Karine Seymour, founder and chief executive officer, Avrio MedTech. Seymour and her team have developed an Artificial Intelligence based patented tool that can automatically detect and characterize biomarkers of epilepsy in intracranial EEG procedures.
- Paul Loomis from Brain Capture, who shared that after winning our 2023 Shark Tank, they used the funds to deploy low-cost EEG solutions in Kenya to increase access to high-quality EEG recordings.
- Karl Stoklosa and Michael Tittelbach of Precisis shared how the Shark Tank winnings allowed them to accelerate their plans to set up safety and efficacy studies for their focal transcranial cortex (FTC) stimulation platform in the US.
About Epilepsy
According to the World Health Organization, epilepsy is the most common serious brain disorder worldwide with no age, racial, social class, national or geographic boundaries. The U.S. Centers for Disease Control & Prevention (CDC) estimates that 3.4 million people in the United States are affected by epilepsy. Epilepsy is the underlying tendency of the brain to produce seizures which are sudden abnormal bursts of electrical energy that disrupt brain functions.
About the Epilepsy Foundation
With a network of partners throughout the United States, the Epilepsy Foundation is focused on improving the lives of people with epilepsy by educating the public about epilepsy and seizure first aid; leading advocacy efforts; funding innovative research; and connecting people to treatment, support and resources so that no one faces epilepsy alone. For decades, the Epilepsy Foundation has continued to drive innovation and improve access to care to transform the lives of people across the epilepsy spectrum. Today, the Epilepsy Foundation also focuses on addressing social determinants of health in epilepsy through its partnership with the Centers for Disease Control and Prevention to address barriers to quality care, increase awareness and reduce the stigma of living with epilepsy. To learn more visit epilepsy.com or call 1.800.332.1000. Follow us on Facebook, Twitter, Instagram, TikTok, and LinkedIn.
| MEDIA CONTACT: | Nathan DeVault 407-401-0040 |
