Dealflow | September 26, 2018

Rise Fund backs Ceribell’s rapid seizure diagnostic device

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, September 26 – Ceribell makes a device that can quickly—and even remotely—diagnose seizures in patients showing no visible symptoms. The Mountain View, Calif.-based company has raised $35 million through a Series B funding round, led by Optimas Capital Partners and TPG Growth’s Rise Fund.

Ceribell’s device, a “rapid response” electroencephalogram, or EEG, is meant for use in neurological intensive care units and emergency rooms as an alternative to standard EEGs, which can take hours or days for specialists to diagnose abnormal brain activity. The device received FDA clearance last year.

“This platform can not only have a significant positive impact on the health and treatment of patients in the United States, but also more broadly across the world where EEG and trained neurologists are not available,” TPG’s Heath Lukatch said.

The financing comes on the heels of reports that TPG Growth plans to raise a second impact fund, this time with a $3 billion fundraising target.