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Headsafe founder Adrian Cohen has hit the phones for his concussion medical device start-up, seeking to raise $5 million to expand the technology offshore.

The company, founded in 2017, is trying to break into the United States with its NuroCHEK device and cement itself as an established provider by 2026.

The Food and Drug Administration-cleared headset, which resembles Apple’s Vision Pro, has been in development for more than seven years. It stimulates the brain’s electrical responses by flashing lights into a patient’s eyes and recording how the brain responds. Headsafe hopes it can revolutionise concussion assessment, returning a result within two minutes.

While sports-based concussions are a key market, with leagues from the NRL to the NFL cracking down, falls and car crashes represent the highest incidences. Military accidents and domestic violence make up another 20 per cent of injuries.

Headsafe came out of insurer HCF’s health tech accelerator program in 2017. It’s since been funded by high-net-worth individuals and government grants. Cohen presented at the Life Science Intelligence emerging medtech conference in California to aid with the self-directed fundraising efforts. The company plans to seek TGA approval in Australia but sees the US as presenting a much larger commercial opportunity.

Former JPMorgan managing director Steve Brimo is Headsafe’s chairman. Company backers include Slingshot Investments, angel investor Proto Investment Partners, and early-stage venture capital fund Club Investible.

Read the full story tomorrow and more on the Street Talk page.

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