Zepp Health Corp. (ZEPP), and neuro42, Inc. announced that Zepp Health is investing $2.4 million to lead the $6.5 million Series A funding round for the development of MRI and robotics technology that allows physicians to diagnose brain injury in acute settings and treat neurological diseases under live imaging.
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neuro42 has an exclusive worldwide license of the low-field MR imaging technology developed in Dr. Lawrence Wald’s lab at the Athinoula A. Martinos Center for Biomedical Imaging, a world-renowned magnetic resonance research center that is affiliated with Massachusetts General Hospital, Massachusetts Institute of Technology and Harvard Medical School.
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“We are pleased to have Zepp Health’s support as we revolutionize the way physicians identify and treat neurological diseases and injuries. We believe this partnership will create a compelling and sustainable value for our shareholders,” said Ms. Abhita Batra, Co-Founder and CSO of neuro42.
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neuro42 represents Zepp Health’s third investment in new companies developing disruptive medical imaging technologies. neuro42 is uniquely positioned to address a significantly unmet healthcare need and creates a well-defined and defensible competitive edge for its portable MRI technology. Zepp Health’s investment in neuro42 comes after Zepp’s recent portfolio company, Promaxo, which is focused on developing office based MRI technology for guiding prostate interventions, recently received a FDA clearance.
“Zepp Health is focused on connecting health with technology, and neuro42 is disrupting the location, applications and costs of medical imaging, which will generate tremendous benefits to healthcare systems worldwide,” said Zepp Health’s Chief Operating Officer Mike Yeung.
Added Zepp’s Vice President of Business and Corporate Development, Tim Houchin, “Zepp Health has become global leader in consumer health technology. These partnerships with diagnostic healthcare technologies present new financial and market opportunities for our business to expand into industrial medical technology.”
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