BURL CONCEPTS CLOSES CURRENT OVERSUBSCRIBED $4.5 MILLION INVESTMENT

Funding to support launch of non-invasive SONAS® ultrasound system in the Patent Foramen Ovale (PFO) market

SAN DIEGO, Oct. 21, 2025 /PRNewswire/ -- BURL Concepts, a private MedTech company focused on the development of a state-of-the-art, rapid, automated and affordable test for evaluating cerebral blood flow and detecting emboli, announced today the closing of its most recent funding. The recent funding now completes a total investment of $28 million in Burl Concepts. This oversubscribed total investment of $4.5 million includes U.S. and international tech and MedTech investors and is led by James Brailean, serial tech entrepreneur and managing partner at Karmel Capital, with participation from Acquipharma, Ltd. and K&K Vision GmbH.

The company will use this current investment to launch its CE-marked SONAS® ultrasound emboli detection system to assist physicians with the diagnosis of a Patent Foramen Ovale (PFO). Activities supported by the investment include final FDA regulatory submissions, clinical experience, and initial commercialization activities in Europe, South Africa, and the U.S. The SONAS system offers a new way to quickly and cost-effectively detect abnormalities in cerebral blood flow patterns including emboli detection.

"The enthusiastic response to our current funding reflects the market's recognition that a new way to assist physicians in PFO diagnosis in cryptogenic stroke patients is ripe for innovation," said Peter van der Sluis, CEO of BURL Concepts. "Similar to ECG testing for arrhythmias, PFO testing should be performed at a cardiologist's office instead of a lab or hospital; the SONAS ultrasound system is the first test that will give cardiologists this option. This round of financing enables us to accelerate clinical and commercial use of SONAS for brain emboli detection."

The SONAS ultrasound system introduces a new method for PFO detection, addressing the need for diagnostic tools that are both faster and more readily accessible. The SONAS system provides several key advantages:

• Patient Convenience: The non-invasive test may be performed in a standard doctor's office or bedside, making it more convenient for patients.
• Quick Results: Emboli detection as part of a standard PFO test is faster because testing takes only a few minutes.
• Cost-Effective: More affordable option compared to standard procedures like transesophageal echocardiography (TEE) or transcranial Doppler (TCD) testing which require highly trained technicians and lab time.
• Automated Process: The test is intuitive and easy to perform without requiring special training or technical skills.

"We built this company around a simple idea: to give physicians and patients peace of mind through instant, actionable insights about cerebral blood flow," commented Thilo Hoelscher, MD, Co-Founder and Chief Medical Officer of BURL Concepts. "By harnessing next-generation ultrasound with proprietary signal detection algorithms, our goal is to make it easier for physicians to diagnose PFOs with confidence and speed — something traditional imaging simply can't match."

A PFO is a hole in the wall between the left and right atria of the heart that failed to close after birth. Approximately 40 to 50% of patients with cryptogenic stroke (stroke of unknown cause) have a PFO.

About BURL Concepts

BURL Concepts, Inc.™, is a medical technology company dedicated to developing and commercializing rapid and inexpensive brain perfusion assessment solutions and for assisting physicians diagnosing a patent foramen ovale (PFO). Through its SONAS® technology system, clinicians in hospitals and non-hospital settings can non-invasively evaluate cerebral blood flow and accurately guide treatments for patients. For more information, visit www.burlconcepts.com.

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SOURCE BURL Concepts