Series B financing brings $3.5mm to Orasi Medical

University of Minnesota spin-off Orasi Medical brought in $3.5mm through its Series B round from 31 investors. (According to the Form D, the start-up had planned to raise up to $8.8mm.) Among the participants were Series A shareholders PrairieGold Venture Partners and CentreStone Ventures (leads), angel investors, and company management. Orasi will use the money to develop and expand the use of its Synchronous Neural Interactions test in pharmaceutical and clinical diagnostic applications. SNI quickly and accurately provides early diagnosis of CNS diseases (the company is initially targeting Alzheimer's) and assesses efficacy of drugs by measuring small magnetic signals generated by electrical brain activity.