Prevent Biometrics Seeking $7 Million In Financing
Edina-based Prevent Biometrics Inc. is working to raise $7 million in new equity financing, according to a Tuesday filing with the U.S. Securities and Exchange Commission. The new filing indicates that the company has raised $3.8 million so far.
The company’s principal product is a mouth guard for athletes. If a player is hit with enough force to cause a concussion, a mobile app alerts coaches or others on the sidelines. The player can then be evaluated for a possible concussion.
Prevent Biometrics executives declined to comment on the company’s latest round of financing.
A previous SEC filing from January 2016 indicated that the company was then trying to raise $2.5 million in financing and had raised $300,000 at the time of the filing.
According to the firm’s web site, its technology was developed by Cleveland Clinic, which is considered one the leading medical centers in the U.S. The company’s “Head Impact Monitor” will sell for $199, but is not yet for sale to the public.
Concussions have been a prominent health topic in recent years as former professional football players are dealing with side effects from past concussions. Even Hollywood has tackled the issue: Will Smith starred in a film simply called “Concussion,” a sports drama from 2015.