A University of Pennsylvania spinout is expanding its presence with a new facility in Minnesota.
Philadelphia-based Cogwear, a medical device startup that makes a headband to monitor brain activity, is leasing a space on Myrtle Avenue next to ArteMedics in St. Paul, CEO David Yonce said. The expansion will help the production of its second-generation device, designed to deliver real-time brain insights.
The device can be used to measure the brain's attention, fatigue, focus, memory recall and how the patient may think or feel, which can translate to measuring anxiety or other mental health issues, Yonce said.
"In practical application, the device could be used to see what type of medication works best for a patient with a mental health issue and how they are reacting to it, rather than waiting six to eight weeks, as [electroencephalogram] and brainwaves are good predictors for certain drugs," he said.
Cogwear's device is also being used outside of health care applications, such as in advertising and athletics.
"You can get a minute-by-minute snapshot of what's going on in someone's brain, and what they are really thinking about an advertisement," he explained.
Yonce said the company is working to get Food and Drug Administration clearance for the device and undergoing a pilot study for early detection of Alzheimer's disease.
The company plans to manufacture its next-generation product at the new facility over the next 18 months. The new site will have automated manufacturing for the wearable device's proprietary sensors, which deliver clinical-grade electroencephalogram, or EEG, data.
Yonce said St. Paul was selected for Cogwear’s new location because of the company’s existing employee base, access to a talented regional workforce and the area's strong connections to the medical device industry.
Cogwear was founded in 2018 and awarded $256,000 from the National Science Foundation's Small Business Innovation Research Program to accelerate the product's development and commercialization in 2021. The company also raised $100,000 from private investors.
Cogwear plans to recruit manufacturing, mechanical and electrical engineers at its new location as it grows in both St. Paul and Philadelphia. The company also plans to fundraise for a Series A round later this year.
Currently, Cogwear employs fewer than 10 people but plans to hire more as production of its wearable device ramps up.
"We are excited about the growth process in the region and are on the [precipice] from a limited launch to experiencing explosive growth," Yonce said.
