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November 25, 2024
neuro42 is a San Francisco-based medical technology company focused on the development and commercialization of a novel portable MRI and robotic system for neurosurgical interventions. The Company is developing and commercializing a portable MRI, robotic and AI platform, backed by over 30 patents, for point-of-care imaging and interventions under live image guidance.
Officially formed in 2020, neuro42’s story began much before its official commencement. Its founders began discussing with Dr. Lawrence Wald, several years prior to the company’s formation, about developing and commercializing low-field MRI technology for head and brain imaging. With intraoperative imaging and surgical guidance in neurosurgical sites being an underserved market, a common vision of the founders to fill the gaps ideated neuro42’s MRI and robotic technology.
Being a startup, neuro42 underwent several challenges. However, leveraging the profound experience of the founders in building successful startups prior to neuro42 led to the company’s establishment. Moreover the impact and breadth of neurological conditions worldwide serve as a major inspiration behind the inception of neuro42. The company affirms that by commercializing a portable head and brain MRI system, it can get patients scanned sooner and uncover findings to aid in the treatment of diseases that require surgical interventions.
neuro42’s system utilizes a low-field strength magnetic technology, allowing it to be small and mobile compared to traditional MRI systems. Its low fringe field provides convenience and safety for use in various hospital settings and physician offices. The company has licensed this technology from Dr. Lawrence Wald’s lab at the Marthinos Center at Mass General Hospital—one of the world’s premier research centers devoted to the development and application of advanced biomedical imaging technologies. Presently, neuro42 takes pride in having onboarded the brightest minds in MRI physics and neurosurgery. The professionals also provide advice to the team of exceptional engineers to build a product that would benefit physicians and patients who will receive the most advanced neurological care.
Unlike traditional MR imaging solutions available in the market, neuro42’s system is a point-of-care MRI that can be used for screening strokes and TBI in an acute setting and for performing confirmation scans during and after neurosurgical procedures. Its integrated needle-guide robot enables surgeons to perform laser ablations, biopsies and place shunt catheters under live image guidance. In addition to this, neuro42’s limited fringe field and standard power requirements stand out as major differentiators in the market—allowing it to be brought into an operating room without making any significant changes to the OR infrastructure or surgical instruments.
For startups, securing funding to turn a vision into reality often becomes challenging. However, owing to its unique differentiating factors, neuro42 was able to earn the attention of its investors and make them see the value of its technology by believing in it.
With that said, neuro42 is led by a team of seasoned healthcare executives that know how to build and manage a solid R&D team and vividly understand the market needs. To date, the company has successfully raised over $14 million in three funding rounds. Moreover, its investors include high net worth individuals, big-name organizations and strategic partners such as Zepp Health (formerly Huami Corp). Their support has been instrumental in neuro42’s continued development.
Every business requires a robust marketing team that can expand its product reach to a vast set of targeted audiences—neuro42’s marketing team being a pristine example. The company endorses its products and its efforts into spreading the word about neuro42 as well as its technology. Since the recent global pandemic limited physical marketing activities, the company remained committed to attending industry conferences, investor meetings and other industry-related gatherings to meet with like-minded people in the medtech world and discuss its vision in a revolutionary new way to image and treat brain conditions.
neuro42’s exclusive technological incorporation and advancement have proven highly commendable in the market arena. After consulting with numerous neurosurgeons and conducting a primary market research study with neurosurgeons as well as neuroscientists, the company has reached the conclusion that its technology can make a difference in its concerned space.
The biggest requirement for its imager is an intraoperative setting. Since neuro42 is a low-field MRI scanner, it can be flexible and adaptable, incorporating robotics and artificial intelligence into the mix for numerous precise interventions. In addition to that, the company also understands that health care is rapidly moving toward patient-centered care with outpatient, office-based procedures leading the way, and concludes that it perfectly fits within that model.
In the upcoming 6-12 months, neuro42 plan to submit for 510k clearance for its MRI system. Along the way, the company aims to perform clinical scans and strive for consistent improvement in the quality of its technology. Moreover, neuro42 is constantly on the lookout for strategic partnerships with technology labs and organizations that will help expand the usability of its system across various neurology and neurosurgical applications.
Nikhil Sadhwani is the Co-founder and Chief Development Officer at neuro42. He is a seasoned executive with 15 years of experience as a medical device representative in neurosurgery. He holds an MBA degree in Entrepreneurship and Finance from Babson College and BSE in Biomedical Engineering from Arizona State University. Currently, Nikhil leads the operations and clinical partnership efforts at the organization.
Nikhil’s agile management style and knack for pivoting strategies towards opportunity have proven to be a great asset for neuro42 in advancing research and product development through the innovation pipeline. He is constantly in pursuit of the next big idea. Moreover, he advises and invests in bearers of inquisitive minds poised to contribute to the advancement of healthcare.
