A St. Louis-based startup co-founded by a Washington University in St. Louis neurologist has raised a combined $6.6 million in federal grant funding and private investment, reports the St. Louis Business Journal.
NOUS Imaging was co-founded by Nico Dosenbach, a pediatric neurologist at St. Louis Children’s Hospital and assistant professor of neurology and radiology at Washington University School of Medicine.
The startup, which is headquartered in the Cortex Innovation Community, has developed a software, called FIRMM, which monitors patient motion in real-time during MRI scans. According to NOUS, about 20% of MRI scans annually are rendered useless because of patient movement during the procedure. The FIRMM software can minimize the need for repeat scans or anesthesia, which increases patient safety and saves time and money.
The bulk of the financing stems from a $5.6 million Small Business Innovation Research (SBIR) grant recently awarded to the startup by the National Institutes of Health. NOUS also has raised private financing from CICA Inc., a San Diego-based biotechnology and medical technology investment family office.
The company plans to use the funding to hire additional developers and administrative staff.