Global technology specialist FD announces that BrainWaveBank, an innovative start-up focused on cognitive health, has selected its Kx technology to power its neuroscience platform. The agreement will allow BrainWaveBank to build the world’s first Big Data collection of brainwave activity data and to target the cognitive health assessment market, expected to reach US$ 8.1 billion in 2021, according to analysts MarketsandMarkets.
Currently, 90% of people who suffer from cognitive health disorders are diagnosed many years too late or not at all and the incidence of Alzheimer’s alone is expected to triple to 130 million people by 2050. It is estimated that early detection and intervention can delay onset of the disease and reduce the cost of care by 35% or more. BrainWaveBank’s solution, developed by a team of neuroscientists, cognitive psychologists, machine learning and big data analytics specialists, is to provide the ability for individuals to track their own cognitive performance – and analyse it for anomalies relative to their own history and the data generated by other users within their demographic.
To achieve this BrainWaveBank has developed a low cost, high resolution brainwave (EEG) scanning headset that can be worn at home while playing engaging mobile games for a few minutes a day, several times per week. The data can be adjusted for factors such as medication, sleep and activity and the aggregated data is used to establish healthy baselines for different demographics. As well as monitoring individual cognitive health, BrainWaveBank also intends to address the £800m per annum market for clinical trial support, helping pharma companies to identify trial candidates for drugs targeted at the early stages of neurodegenerative diseases.
Kx will power the neuroscience platform that analyses the data, which will build into the world’s first ever database of brainwave activity recorded daily in the home. The use of Kx will allow real-time analytics to be conducted on brainwave activity and will accelerate analysis of aggregated data.
Ronan Cunningham, Chief Executive Officer of BrainWaveBank commented: “Through its ability to rapidly process vast amounts of time-series data, provide analytics in real-time, and integrate with our machine learning pipelines, Kx is ideally placed to power our neuroscience platform. It also has the ability to scale seamlessly to support our plan to create the largest and most valuable database of EEG data, tagged with demographic, behavioural and lifestyle information, that has ever been assembled.”
Brian Conlon, Chief Executive Officer of Kx commented: “BrainWaveBank is led by experienced computational neuroscience and cognitive psychology experts with a business development road map that is capable of transforming the way cognitive health is measured and treated. Combining this domain expertise with our Kx technology has the potential to deliver new insights in this important area of healthcare.”