MJN Raises Over 1 Million and Negotiates with Danish Family Office to Grow Abroad

MJN-neuro has raised capital to grow abroad. The Spanish company, which specializes in developing medical solutions to predict epileptic seizures and also works in Alzheimer’s research, has raised more than one million euros to finance its sales strategy, according to David Blánquez, CEO and co-founder of MJN-neuro. At the same time, the startup is in negotiations with a Danish family office, whose name has not yet been disclosed, to grow internationally. “Right now there is a due diligence process underway,” added the executive.

Last May, the Girona-based company opened a financing round of one million euros through the crowdfunding platform Capital Cell. The aim of this operation is to finance the sales strategy for the MJN-Seras, a portable device that can alert patients suffering from epilepsy.

The project in question is the MJN-Seras, a wearable device that can alert patients before epileptic seizures occur by continuously monitoring brain signals. The product is considered a medical gold standard, so it is necessary to execute a sales strategy on a global scale, according to the company.

Read more about MJN-neuro and its plans to expand and find the most important business headlines with the Born2Invest mobile app.

MJN-neuro has received $2.5 million (€2.1 million) from the Center for the Development of Industrial Technology (Cdti)

Three of them are American and one is Spanish. They are two investors, a cardiologist and a specialist from the U.S. Food and Drug Administration (FDA). All four have pledged $295,000 (€250,000), of which $207,000 (€175,000) have already been confirmed.

As a result of the campaign’s success, MJN-neuro has decided to extend the campaign for more than 50 days to raise more funds and to have the financial backing of a European organization, according to Blánquez. At the beginning of the year, MJN-neuro received $2.5 million (€2.1 million) from the Center for the Development of Industrial Technology (Cdti) to make progress against Alzheimer’s disease.

The company was a beneficiary of the Cdti Missions program, part of the Ministry of Science and Innovation, in a consortium with Elausa Electrònica i Automatismes, Weird Kin, and the Instituto Médico Privado (IMP).

The aim of the project is to find biomarkers of Alzheimer’s signs for early diagnosis with an advantage of 12 to 18 months over current diagnostics. The consortium will work in this field for three years. The company has raised more than three million euros between public and private funding since its founding

Since its founding in 2014, MJN-neuro has raised more than three million euros between public and private funding

The startup secured a grant from the European Union, a $709,000 (€600,000) funding round, as well as grants, loans, and tenders. The company is owned by Ship2B’s Impact Equity vehicle, as well as stakeholders such as Sonisord Kin, the Artificial Intelligence research team Exit of the University of Girona, and medical centers such as Hospital Ruber Internacional and Clínica Corachan.

According to studies, there are currently around 125 million people living with epilepsy worldwide. This value indicates a prevalence of between 1.5 and 2% of the total world population. Recently published studies in the United States put the lifetime prevalence at 3.8%. This increase is due to the fact that epilepsy is one of the most common effects of severe neuropathologies.

__

(Featured image by Lucas Gallone via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.