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Holberg EEG brings in fresh capital

Holberg EEG AS has increased its share capital with 5.6 mNOK. The new funds will primarily be used to continue software development and to strengthen the marketing and sales staff.
11.09.2015

In addition to fresh capital from existing shareholders, Holberg EEG has acquired four new shareholders: Goas AS, Steinar J. Engelsen, Norsk Innovasjonskapital IV (NIK IV) and Bergen Kommunale pensjonskasse. Holberg EEG is owned by the entrepreneurs (33%), Bergen Teknologioverføring (32%), financial investors (21%) and other individual investors (14%).

The company is now valued at approximately 40 mNOK.

Harald Aurlien, managing director of Holberg EEG, says:
As a result of the emission and a robust financial platform, we can now fully focus on developing the product and concentrate on providing SCORE to the market. The new owners see that the company has ambitions to improve the current EEG-studies, as well as adjusting the business to fit in other medical areas with great potential.

Holberg EEG AS is a company focusing primarily on developing electroencephalography (EEG) to a new level. EEG measures brain activity and is used for patients with epilepsy, coma and dementia. EEG results have traditionally been described by text and thus was not available for statistical analysis or advanced search. Holberg EEG delivers new, standardized reporting and database solutions for EEG. Holberg EEG is the only provider of this technology worldwide.

Holberg EEG has for many years worked closely with a consortium of leading EEG experts from fourteen other European countries to establish a new standard for describing clinical EEG. This has resulted in the computer program SCORE EEG – Standardized Computer-based Organized Reporting of EEG – which makes it possible to compare EEG results directly and independently of language. The partnership is now extended to EEG experts from the US, Canada and Asia. In 2016 SCORE will be published as the global standard. This is done in cooperation with the leading medical organizations International Federation of Clinical Neurophysiology (IFCN) and the International League Against Epilepsy (ILAE).

Holberg SCORE EEG software makes it possible to describe EEG studies in a way that ensures better quality of ratings, better communication of results to physicians, and better opportunities for education and research based on the results. Holberg SCORE EEG has several hospitals in the Nordic countries as clients and the system is being implemented in the Netherlands and the UK.

Holberg EEG is spun out of the neurophysiology environment at Haukeland University Hospital and has its headquarters in Bergen, Norway.

The Board of Directors is expanded as a result of the emission. Steinar J. Engelsen and Jørgen André Nilsen (TeleVenture / NIK IV) are new members. Rune Sørum (TeleVenture / NIK IV) is deputy member. The Board otherwise consists of Aksel Mjøs, Dag Finne, Harald Aurlien and Erik Flatmark.

Regional newspaper Bergens Tidende wrote about the emission 10th of September 2015 (facsimile right).

You can read more about Holberg EEG on the company webpage here

Main picture: (from left) Svenn Bjarte Krossnes (McS), Heidi Kvalheim (Sales and Marketing Director), Harald Aurlien (CEO), Jan Christian Brøgger (Developer) and Haakon Sjursen (Developer).

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