Introduction

NeuraMetrix is a startup with four people, geographically spread, with several key opinion leaders as advisors.

We discovered using typing cadence to measure brain health and detect neurological diseases and mental health disorders. We built a remote monitoring, non-invasive tool able to detect and monitor diseases. The technology involves only internet and software, enabling high margins.

We currently market primarily to pharma companies and receive orders from research institutions, such as Boston University and Harvard. They use our technology in clinical trials. With regulatory permissions, we plan to target hospitals, clinics, and medical researchers. Eventually, we may also pursue a consumer market. 

Our Story

Both co-founders’ fathers passed away due to the lack of treatments for brain disease or injury.

Both of us have a background in data security and set out to rid the world of passwords, using typing cadence. We had developed a working product and one day a person said "I bet you that can also be used to detect Alzheimer’s." We then met Bob Mahley (Founder, Gladstone Institutes and its president for 35 years, 30 years’ work in Alzheimer’s and mentor of the 2012 Nobel winner, Shinya Yamanaka, who discovered that mature cells could revert to pluripotent stem cells, which in turn can become any type of cell, to replace any damaged cells). Bob Mahley said:

"We have been looking for this for 30 years!"

Later, in a larger meeting, he said:

"I don’t think we can defeat Alzheimer’s without this technology." 

With that, our mission in life was clear.

Problem

Large numbers of people suffer from and ultimately die from Alzheimer’s, Parkinson’s and other brain diseases, after years of agony. You probably know somebody who has succumbed to these diseases. Did you know 20-60% of treatments in psychiatry do not work? That neurological diseases and mental problems are now among the largest causes of disease and death? These diseases are terrible, because they rob us of who we are.

The problem is a lack of good measurements. You cannot stick a barometer into your brain and get a useful readout; without good measurements, good treatments cannot be developed. Peter Thiel, German-American billionaire entrepreneur, venture capitalist, and political activist, recently lamented the decades-long lack of progress against Alzheimer’s. The main medicine used today for Parkinson’s was introduced 40 years ago.

Solution

We have found what we believe is the closest thing to a barometer into your brain. It is something most of us do a lot – typing.

Typing is by far our strongest habit, thus hardwired in our brains. When the brain is attacked by a disease or injured, the wiring can break – but very slowly and in small increments.

We created a tool to measure the consistency of typing, thus, the strength of the habit. We then correlated it to disease and found it could very accurately measure disease. Furthermore, the tool can also create ‘fingerprints’ of diseases, thereby potentially enabling significant improvement of diagnosis – a large problem in both neurology and psychiatry.

Our product operates solely in the background: a patient installs a small software on his/her device (PC, Smartphone) which records data on all keystrokes (no test is used). The product works across languages and alphabets. Our backend and data display for pharma or researchers is completely self-service. With our background in data security, we believe we have devised a product without privacy issues or risk of hacking.

  • Our technology is well protected by 7 patents issued: 4 in US, 1 in Australia, 1 in Japan, and 1 in EU (‘Intention to grant upon payments of fees’, received from EU Patent office), and 2 non-provisional applications filed in US.

Business Model

Our business is all B2B, we charge:

  • pharma customers $100 per subject (patients or healthy controls) per month all inclusive.
  • clinics and research institutions $100 per subject, with fees for additional work.

Market

Success To Date

Team

Founders

Jan Samzelius
Co-founder, CEO & CTO
30+ years in management, quantitative methods, inventor typing cadence.

Christian Olsson
Co-Founder & VP Marketing
Leadership role in six startups.

Executive Team

Susan DiGiaimo
EVP Strategic Partnerships
BD executive and digital health/life sciences strategist with 20+ years of experience within and for Sanofi, Health-Tech startups, and CRO's.

Oleg Salyakhov
VP Engineering
TOP data security developer in the world, worked for leading game publishing and major HW companies.

Scientific Advisory Board

Robert W. Mahley, MD, PhD
Scientific Advisor
Founder and President, Gladstone Institutes, San Francisco, CA Internationally known expert on heart disease, cholesterol metabolism and Alzheimer’s.

Terence (Terry) C. Burns, MD, PhD
Scientific Advisor
Professor of Neuroscience and Neurosurgery, Mayo Clinic, Rochester, MN Focus on brain tumors and translation of neuroregenerative therapies.

G. Bernhard Landwehrmeyer, MD, PhD
Scientific Advisor
Professor of Neurology “Clinical Neurobiology”, Universität Ulm, Ulm, Germany. Renowned expert in Huntington’s disease (HD), and Global PI at Enroll-HD study.

Use of Proceeds


If the offering's maximum amount of $1,206,000 is raised:

UseValue% of Proceeds
Personnel$440,00036.5%
Travel$50,0004.1%
Conferences$80,0006.6%
Product Development incl Fleksy$100,0008.3%
Data-Storage & Scale$50,0004.1%
Research Studies$100,0008.3%
Translations to other languages$20,0001.7%
Regulatory / eQMS$150,00012.4%
Legal + patents$100,0008.3%
Marketing$50,0004.1%
Office Materials$6,9060.6%
Intermediary fees$59,0944.9%

Terms

This number includes all funds raised by the Company in this round on Netcapital. This is an offering of Common Stock, under registration exemption 4(a)(6), in NeuraMetrix, Inc.. This offering must reach its target of at least $10,000 by its offering deadline of December 15, 2023 at 10:59pm ET. If this offering does not reach its target by the offering deadline, then your money will be refunded.

If the offering is successful at raising the maximum amount, then the company’s implied valuation after the offering (sometimes called its post-money valuation) will be:

1,173,726 shares
×
$9 per share
$10,563,534implied valuation

Financials

These financial statements have been reviewed by an independent Certified Public Accountant.

CPA review letter

SEC Filings

The Offering Statement is a formal description of the company and this transaction. It’s filed with the SEC to comply with the requirements of exemption 4(a)(6) of the Securities Act of 1933.

We’re also required to share links to each of the SEC filings related to this offering with investors.

Understand the Risks

Be sure to understand the risks of this type of investment. No regulatory body (not the SEC, not any state regulator) has passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials or information posted herein. That’s typical for Regulation CF offerings like this one.

Neither Netcapital nor any of its directors, officers, employees, representatives, affiliates, or agents shall have any liability whatsoever arising from any error or incompleteness of fact or opinion in, or lack of care in the preparation or publication of, the materials and communication herein or the terms or valuation of any securities offering.

The information contained herein includes forward-looking statements. These statements relate to future events or to future financial performance, and involve known and unknown risks, uncertainties, and other factors, that may cause actual results to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the company’s control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects the current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. No obligation exists to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

More Info

Updates

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