GrayMatters Health Awarded €2.5M in Funding from European Innovation Council

September 7, 2022

HAIFA, Israel – September 7, 2022 – GrayMatters Health (GMH), developer of digital self-neuromodulation therapies for mental disorders, has been awarded a €2.5 million grant from the European Innovation Council (EIC) to accelerate the development of Prism for PTSD, a non-invasive digital therapy, to be used as an adjunct to standard of care (SOC) treatments for post-traumatic stress disorder (PTSD).

PTSD is a severe debilitating mental disorder, annually affecting nine million Europeans and 250 million people globally. SOC psychotherapies and pharmacological protocols treat symptoms and behaviors, rather than addressing the proven underlying brain mechanisms responsible for emotional dysregulation. To help patients with PTSD regain agency over their emotion regulation, GMH offers Prism for PTSD, an investigational device under clinical evaluation in five sites across the United States and Israel, with the potential to serve as a non-invasive adjunctive therapy for SOC therapy.

“We are thrilled to be recognized by the EIC as one of the most innovative and promising companies in Europe as we remain dedicated in our mission to improving the outcome of mental disorder treatment, beginning with PTSD,” said Oded Kraft, GrayMatters Health Co-Founder and CEO. “With this grant we can further develop Prism for PTSD, demonstrate its efficacy in additional studies in Europe with leading institutions, and prepare to launch the product in Europe.”

GMH is the first to use machine learning technology to create an Electrical-Finger-Print (EFP) biomarker of brain-mechanism-specific activity by fusing EEG and fMRI. Prism utilizes the EFP biomarkers and an interactive audio-visual software to provide patients with continuous feedback of brain mechanism activity, thus training them to employ self neuro-modulation techniques. Over the course of a Prism treatment, patients learn how to regulate specific brain mechanisms, ultimately leading to symptomatic alleviation. Prism for PTSD uses the amygdala-EFP biomarker. GMH plans to evaluate the clinical efficacy of Prism for additional mental disorders.

Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union. Neither the European Union nor the granting authority can be held responsible for them.

About GrayMatters Health

Founded by Rani Cohen, Shai Attia and Oded Kraft, GrayMatters Health (GMH) develops digital self-neuromodulation therapies for mental disorders. GMH uses machine learning technology to create an Electrical-Finger-Print (EFP) of brain-mechanism-specific biomarkers by fusing EEG and fMRI. GMH’s first product, Prism for PTSD, is a non-invasive digital therapy, to be used as an adjunct to PTSD standard of care treatments. Prism for PTSD, is an investigational device under clinical investigation in five sites across the United States and Israel, to demonstrate its efficacy and safety as an adjunct to standard PTSD treatments. The novel technology was developed by Professor Talma Hendler and her team at Tel Aviv Sourasky Medical Center and Tel Aviv University. Learn more by visiting our website https://graymatters.health/ and following us on LinkedIn and Twitter.

GrayMatters Health Contact

Oded Kraft, CEO

GrayMatters Health oded@graymatters.health

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