Investor Overview · Confidential

The brain is the last unmeasured vital system
in the human body.

Spryson is a claim on the infrastructure layer of neurological medicine — the platform that every clinician, health system, pharma company, and longevity programme will eventually run on.

5×
FDA Clearances
350+
Customers
20+
Pilot Sites
$75M
Valuation
Who we are

Spryson is a cleared, commercially deployed neurological intelligence platform. Our platform is built on five FDA clearances, 30+ patents, and thirty years of clinical validation.

We have 350+ existing customers and 20+ active clinical sites operating today — not as a proof of concept, but as the pilot network for a global launch. The business is operationally self-sustaining.

Spryson was founded on an acquisition — a 30-year-old neurological technology platform with over $20M invested in its development, repositioned in 2024 as the neurological intelligence platform it was always capable of becoming. Two years of validation later, the commercial model is proven and the operational infrastructure is built. We are ready to scale.

Already deployed

Trusted where the stakes
are highest.

Spryson is deployed across 350+ clinical, government, and research settings. The following are selected examples.

—NASA — assessing astronaut neurological function.
—U.S. Army — assessing neurological function in soldiers suffering from blast concussion.
—IndyCar — tracking cognitive function and identifying concussion in professional racing drivers.
—Johns Hopkins — identifying and managing vestibular migraine.
—U.S. Department of State — neurological assessment of diplomatic personnel presenting with symptoms consistent with Havana syndrome.
The science

Why eye tracking is the right tool.
And why no one else has built this.

Eye movements are a direct motor output of the brain. Measuring them at millisecond resolution reveals what is happening across multiple neurological systems simultaneously — without imaging, without contrast agents, without a laboratory.

This is not a new insight. The scientific literature on oculomotor assessment as a neurological tool spans more than three decades and 3,000+ peer-reviewed articles. 60+ publications directly involve Spryson's platform and technology. The science is settled. What has been missing is a platform that makes it clinically accessible at scale.

The most precise FDA-cleared eye-tracking and vestibular assessment hardware available. Clinical-grade, millisecond resolution, using 40 eye-tracking tests producing 800+ neurological variables. Cleared for clinical use.

30 years of science — now cleared, deployed, and scaling.
The opportunity

3 billion people. Most diagnosed too late.

Neurological disease is the largest unmet diagnostic need in medicine. The bottleneck has never been treatment. It has always been detection.

Spryson is not a research project. Not a pre-revenue concept. Not a single-indication device. It is a cleared, revenue-generating AI platform with 350+ customers and a dataset that gains value with every patient added.

Lecanemab and Donanemab were approved in 2023 and 2024 for early Alzheimer's — the first treatments that actually work, but only if the disease is caught early enough. Overnight, early detection went from desirable to essential. The same wave is arriving for Parkinson's, with disease-modifying therapies now in Phase 3 trials.

Every major health system in the world now needs what Spryson has already built.

Without a platform like Spryson, Lecanemab reaches patients two years too late. Parkinson's is diagnosed after 60% of neurons are already lost. A generation of neurological disease goes undetected until it is untreatable. The cost of inaction is not measured in missed returns. It is measured in lives.
The platform

Three layers. One system.

Three integrated layers create compounding defensibility.

FDA-cleared hardware
Five FDA clearances to measure and record eye movements and balance system responses. Point-of-care, non-invasive. The device captures the signal — the physician interprets it, exactly like an ECG.
AI clinical decision support
An AI layer presenting pattern summaries, flagged risk signals, suggested next steps, and structured reports directly in the physician's workflow. Because the physician retains final judgement, this software falls under the FDA's clinical decision support exemption — allowing it to be updated and expanded across new conditions without a separate approval cycle at every step.
At-home patient platform
A clinician-prescribed platform that extends neurological monitoring into the patient's home between clinic visits. Patients receive the assessment device directly from Spryson, complete structured neurological assessments on a recurring basis, and return longitudinal data to their clinician's dashboard. Spryson owns and manages the hardware.
The Nura Brain Performance Model

From thousands of variables to one profile.
In a single 25-minute assessment.

Every other major organ system has a performance layer. Cardiology has ejection fraction, VO₂ max, blood pressure. Endocrinology has HbA1c. Pulmonology has FEV₁. A cardiologist can tell a patient where they stand, what to change, and whether the change worked.

The brain has no equivalent. It has diagnostics — imaging that shows structure, neuropsychology that samples cognition at a single sitting, and symptom questionnaires. What it lacks is a routine, objective, repeatable performance layer: the thing you measure at forty so that the measurement at fifty means something.

The Nura Brain Performance Model is that layer. It partitions brain health into seven functional systems — each supported by separable circuitry and independently measurable. What is proprietary is not the systems themselves. It is the measurement architecture built across them.

Signal to score — the hierarchy

In a single 25-minute Spryson assessment, thousands of physiological measurements are compressed into one Brain Performance Profile through a fixed, auditable hierarchy.

1000s
Raw variables
→
74
Functional scores
→
7
System scores
→
1
Brain Performance Profile
The measurement loop
Measure
→
Target
→
Train
→
Monitor
→
Prove
→
Compound
The seven functional systems

Spryson partitions brain health into seven independently measurable functional systems. Each system maps to specific scores in the hierarchy above.

I
Cognition
Attention, working memory, inhibition, flexibility, decision efficiency.
II
NeuroSpatial Integration
Gaze stabilisation, orientation, eye-head-body coordination.
III
Motor Control
Initiation, precision, timing, tremor, posture, gait, motor learning.
IV
Sensory Processing
Vision, hearing, touch, proprioception — how signals are filtered and combined.
V
Language & Communication
Understanding, retrieving, expressing. Reading, naming, speech timing.
VI
Emotional & Social Regulation
Affective control, motivation, reward response, social attention.
VII
Brain Regulation & Resilience
Arousal, autonomic regulation, fatigue resistance, adaptation, sleep.
"A diagnostic finding terminates. A performance score does something different: because it names a specific function and can be re-measured reliably, it can be targeted, trained and verified. That converts assessment from an event into a cycle."
— The Nura Brain Performance Model, Version 1.0
Full foundational document available to qualified investors on request.
The scale of the opportunity

The market is not a niche.

Neurological disorders affect an estimated 3 billion people globally — more than any other disease category. The global neurology diagnostics market is valued at approximately $11 billion today and projected to exceed $20 billion by 2030. That number understates the real opportunity.

The global market for early Alzheimer's detection alone is projected at $4 billion+, and each new approval creates a diagnostic pull-through market that did not previously exist.

The bottleneck across every one of these indications is the same: there is no cleared, scalable, objective neurological assessment platform.

Cleared eye-tracking devices exist. A cleared platform — hardware, AI interpretation, at-home monitoring, and a dataset that compounds across all three — does not. That is what Spryson has built.
$11B
Neurology diagnostics today
$20B+
Projected by 2030
$4B+
Early Alzheimer's detection
$1T
Annual productivity loss — anxiety & depression
3B+
Living with a neurological condition
1B+
Living with a mental disorder
Population and productivity figures: Global Burden of Disease 2021, The Lancet Neurology; WHO, World Mental Health Today, 2025. Neurological and mental health populations overlap. Market sizing: industry analyst estimates.
Go-to-market — two proven channels

Two channels. Both validated.
Now scaling.

Channel A — Indications & pharma

Active discussions with two top-10 pharma companies and two global medical device companies — each positioned to handle sales, distribution, regulatory approvals, and market access across their territories. A single enterprise partnership gets us to global scale without building the infrastructure ourselves.

Each FDA clearance for a major neurological indication opens a partnership opportunity sized at $1B+ in addressable revenue. Spryson does not need to capture the market — it needs to be the diagnostic infrastructure the market runs on. We target strategic agreements where pharma and device partners commercialise each indication globally. Five indications. Five partnerships. The platform is the asset.

Channel A revenue is not included in our projections. We will not put a number on outcomes we do not fully control. What we will say: a single pharma partnership for one cleared indication would exceed the entire Channel B projection. Four of these conversations are active — two pharma, two medical device.
Channel B — Clinical network

Over the past two years we built and validated our go-to-market model with 20+ pioneer clinics in clinical neurology. We know it works. We now scale it across five new verticals — two tiers of product, three tiers of revenue.

Product tier
Clinics
Per clinic
Channel total
NeuroAI+
Vestibular Chair + Goggles · ENT & physical therapy
200
$300,000
$60M
NeuroAI
Goggles only · Mental health, eye doctors, longevity
600
$75,000
$45M
NeuroAI Rx
At-home prescription · $200/month · 6-month minimum · 150 Rx per clinic · Spryson-owned hardware
800
$144,000
$144M
Clinical channel total · Year 3
Forecasted at end of year 3. Before pharma partnerships, data licensing, or consumer platform
$249M
These projections are not a new model. They are a proven one, scaled.

Projections assume direct patient payment. Spryson holds 16 CPT billing codes — the prerequisite for insurance reimbursement — and reimbursement coverage is actively being pursued. We have not included it in our numbers.
Vertical markets

How we enter these markets.

The way we enter these markets is through enterprise relationships with pharma companies, medical device distributors, health systems, and longevity programmes — each with existing global infrastructure and patient access.

We are in active discussions with two of the world's top-ten pharmaceutical companies, two global medical device companies, and an international longevity programme in Asia with more than one million customers. A handful of enterprise deals gets us to one million patients.

Running in parallel is the at-home Rx model — reaching patients between clinic visits, extending monitoring into the home, and building the longitudinal dataset behind everything else on this page.

Channel A in detail — neurological indications

Pharma and medical device partners handle commercialisation — sales, distribution, regulatory approvals, and market access across their territories. Selected indications currently in active development:

Indication
Parkinson's disease
FDA Breakthrough Designation filed. Q1 2027 FDA meeting. Disease-modifying therapies in Phase 3 — early detection is now essential.
Indication
Alzheimer's & dementia
510(k) in progress. Lecanemab and Donanemab approved — both require early identification. The pull-through diagnostic market is immediate.
Indication
Multiple sclerosis
Pharma outreach Q1 2027. Oculomotor biomarkers are validated MS indicators. Active research partnerships underway.
Channel B in detail — clinical specialty verticals

Served through a combination of direct enterprise sales and established medical device distribution partners — companies already calling on ENT clinics, physical therapy practices, and eye doctors weekly. Spryson provides the technology and clinical support; distribution partners provide market access at scale.

Longevity
Brain performance layer every longevity programme is missing. The only cleared platform that can deliver it.
ENT
Vestibular and balance disorders. NeuroAI+ with chair and goggles. High clinical demand, proven assessment protocols.
Physical therapy
Vestibular rehab, balance, fall prevention. NeuroAI+ with chair and goggles. Objective outcome measurement for every patient.
Mental health
Cognitive and neurological markers for anxiety and depression. Objective assessment where subjective questionnaires have always fallen short.
Eye doctors
Oculomotor assessment for optometry and ophthalmology. A natural adjacency — the same measurement, a new clinical context.
Clinical neurology
Existing pioneer channel. 20+ active clinics. Proven model — now scaling to 100+ across this vertical alone.
The roadmap

Where we are.
Where we are going.

Spryson acquired the underlying platform in 2024. Two years of validation later, the commercial model is proven, the technology is deployed, and the business is self-sustaining. This raise funds the scale. The Series B follows the data.

Proven · 2024–2026
—Platform built, validated and deployed
—Scalable manufacturing established
—350+ customers · 20+ active pilot sites
—Reimbursement pathways established
—Pioneer clinician network active
—Gen 2 FDA claims filed — Parkinson's, Alzheimer's, MS
—Operationally self-sustaining
—$12M ARR
Scaling · $15M Convertible Note
—Path to $24M+ ARR
—500+ customers
—Launch subscription model
—AI platform launched
—Rx / at-home product development initiated
—Gen 2 FDA claims advanced — vestibular migraine, fall prevention, dizziness & vertigo, anxiety & depression
—Active pilot programs with global pharma and medical device partners
Beyond · Series B
—Path to $60M+ ARR
—Series B at $300M+ valuation
—250,000+ patient dataset
—Four pharma partnerships in progress or active
—Rehabilitation referral network
—Six regulatory environments
—Pharma data licensing revenue activated
The data engine

The most valuable asset Spryson is building
is not the hardware or the AI. It is the dataset.

Every clinical assessment on the Spryson platform feeds a single growing database. Eye movement, balance, cognitive, autonomic, and sleep signals. Different demographics, different geographies, different indications. All of it flows into one place.

Pharma companies currently spend $50,000–$150,000 per patient¹ to generate equivalent data inside clinical trials. Spryson generates it as a byproduct of clinical care. That cost differential is the business case. The data does not just support the business — at scale, it becomes worth more than the platform that collected it.

At 200,000 subjects by Series B, the cost to replicate this dataset inside clinical trials exceeds $10 billion. The dataset will have no equivalent anywhere in the world.

Flatiron Health proved this in oncology, building to $1.9 billion. The neurological equivalent does not yet exist. That is what Spryson is building.

Early detection
Detecting neurological change before clinical symptoms appear — the critical window where intervention makes the greatest difference.
Predictive analytics
Population-scale models predicting disease progression — enabling risk stratification for health systems and insurers.
Pharma partnerships
Pharma pays for validated clinical trial endpoint data. Zero incremental cost to Spryson — pure margin.
Continuous monitoring
Ongoing disease monitoring as a subscription use case — recurring revenue independent of new patient acquisition.
Whoever owns the neurological reference dataset owns the infrastructure layer of brain health diagnostics globally.
¹ Neurology clinical trial costs: pmc.ncbi.nlm.nih.gov/articles/PMC7295430
From measurement platform to rehabilitation network

Every assessment creates a patient pathway.
Every pathway compounds the data asset.

Spryson measures and monitors brain performance. Our rehabilitation partners train the functions we identify. That distinction is deliberate — and strategically important.

When a Spryson assessment identifies weak gaze stability, reduced vestibular function, or declining cognitive processing speed, it does not terminate with a finding. It opens a pathway: to vestibular rehabilitation, to cognitive training, to physical therapy, to specialist care. The patient returns. The scores are remeasured. The change is documented.

That cycle — measure, identify, refer, train, remeasure, prove — is the network effect. Each assessment feeds referrals into a growing rehabilitation partner network. Each rehabilitation cycle generates outcome data. That outcome data trains better AI models, validates new biomarkers, and builds a response-to-intervention dataset that no clinical trial has ever produced at this scale.

The closed loop
01
Measure
The Spryson assessment produces the Brain Performance Profile across seven functional systems.
02
Identify & refer
Functional targets identified. Patient routed to the appropriate intervention — vestibular rehab, cognitive training, PT, lifestyle, specialist care.
03
Train
Rehabilitation partners deliver intervention against the specific functional scores identified.
04
Remeasure & prove
Scores retested against their own baseline. Change documented objectively — not by how the patient feels, but by whether the function moved.
05
Compound
Response-to-intervention data returns to NeuroAI. Models sharpen. Protocols improve. The next patient benefits from every previous cycle.
Assessment network
Measure & monitor
Clinical, government and research sites running Spryson assessments. Every site that measures is an entry point into the rehabilitation referral network.
Rehabilitation network
Train & prove
PT clinics, vestibular rehab centres, cognitive training providers. Each partner receives Spryson-identified targets and returns documented outcomes.
Outcome data network
Compound & license
Response-to-intervention data at population scale. The dataset pharma needs and cannot build. Every rehabilitation cycle makes it more valuable.
Who this platform serves

Eight people. Eight moments.
One platform that changes all of them.

Spryson is not a single-use diagnostic tool. It is a platform that sits at the intersection of every meaningful neurological moment — from the first worried conversation with a GP to the final data point in a Phase 3 clinical trial.

Patient with brain fog
The patient with brain fog

A 47-year-old woman has been experiencing persistent brain fog for eight months. She has seen three doctors. Every test has come back normal. She is told it is stress. A Spryson assessment identifies measurable deficits in cognitive processing speed and vestibular function — objective signals that something is genuinely wrong. For the first time, she has a number. A starting point. A direction.

Adult worried about dementia
The adult worried about dementia

A 52-year-old man's mother was diagnosed with Alzheimer's at 68. He is frightened. His GP has no tool to assess his risk objectively. A Spryson assessment establishes his neurological baseline — across all seven functional systems — so that every future measurement is compared against his own starting point, not a population average. He now has a longitudinal record. The earliest warning will not be missed.

GP with objective assessment tool
The GP who finally has an objective tool

A GP sees twelve patients a week with neurological complaints — dizziness, memory concerns, balance issues, cognitive changes. Until now, her only tools were questionnaires and referrals that take months. A Spryson assessment takes 25 minutes and produces a structured clinical report with objective scores, risk signals, and suggested next steps. She can act now, not in six months.

Neurologist reviewing patient profile
The neurologist with a full waiting room

A neurologist sees patients who have been waiting four months for an appointment. When they arrive, he has no objective baseline — only what they report and what he observes. Spryson gives him a structured neurological profile before the consultation begins. He can focus the appointment on interpretation and intervention rather than information gathering. The consultation starts where it used to end.

Researcher reviewing neurological imaging
The pharma researcher recruiting for a trial

A pharmaceutical company is running a Phase 3 trial for a Parkinson's disease-modifying therapy. They need patients in the early stage — before significant neuronal loss has occurred. Traditional recruitment takes years. Spryson's normative database identifies patients who match the trial profile from existing clinical data. Recruitment time compresses from years to months. The trial that changes Parkinson's treatment gets to market faster.

Longevity clinic client
The longevity clinic client

A 58-year-old executive spends $30,000 a year on his longevity programme. His cardiovascular system has been comprehensively assessed. His metabolic markers are tracked quarterly. His genome has been sequenced. His brain has never been objectively measured. Spryson adds the one missing layer — a longitudinal neurological profile that shows where his brain is today, where it is heading, and what to do about it while there is still time to act.

Rehabilitation patient in assessment
The rehabilitation patient tracking progress

A 64-year-old man is six weeks into vestibular rehabilitation after a fall. His therapist has no objective way to measure whether the treatment is working — only his self-report and clinical observation. Spryson remeasures his vestibular function scores against his pre-treatment baseline. The improvement is visible, measurable, and documentable. The therapist adjusts the protocol. The patient sees the evidence that the work is paying off.

Health system clinical team
The health system building a prevention programme

A hospital network wants to build a neurological prevention programme for patients over 60. They need a scalable, objective, reproducible assessment tool that works across multiple sites without specialist neurologists at every location. Spryson deploys across all sites in weeks. Every assessment feeds the same normative database. The programme improves with every patient it sees.

Every one of these moments generates data. Every data point makes the next assessment more accurate. Every accurate assessment creates a better outcome. That is the compounding loop — and it is already running.
What this looks like in practice
"For the first time we can show a patient an objective measurement of their brain health — not just tell them everything looks normal."
— Neurologist, Pioneer site, United States
Child undergoing neurological assessment
The child with ADHD

A 9-year-old who cannot focus in school has spent three years being told it is "just behaviour." A Spryson assessment produces an objective eye movement biomarker that finally explains what his parents and teachers have been unable to quantify. For the first time, the clinical picture is clear — and treatment can begin.

Athlete after on-field head impact
The athlete with a concussion

A 22-year-old college athlete takes a hit in the second quarter. Before Spryson, the return-to-play decision was a judgment call. Now it is a measurement — eye movement and balance signals assessed in minutes, compared against a normative baseline, giving the medical team an objective answer instead of a guess.

Older adult at risk of falls
The elderly patient at risk of falling

A 78-year-old woman has fallen twice in the past year. Her GP had no way to objectively assess her balance system. A Spryson assessment catches the early neurological signals — before the third fall that would have changed everything. Falls are the leading cause of injury-related death in older adults.

The investment case

Four stacked asset classes.
Each one independently defensible.

FDA clearances
Five clearances with a predicate chain competitors cannot shortcut. The regulatory cost to replicate this — 8–12 years, $50M+.
Intellectual property
30+ patents and a deep base of proprietary R&D. To replicate this IP from scratch would take a decade and tens of millions in development spend. Real, defensible, and strategically irreplaceable.
Live commercial revenue
Operationally self-sustaining today. At $2M+/month by end of raise — $24M ARR — comparable data platform transactions at 12–15× revenue produce a Series B valuation of $300M+. That is the revenue-based floor.
The data asset
A proprietary neurological dataset generated as a byproduct of clinical care, at a cost no competitor can match and at a scale none is positioned to reach.
Expansion

Multiple markets.
One platform.

International markets
Expanding into multiple geographic markets with active regulatory pathways. Japan, China, Southeast Asia, the UK and Europe in development.
Indications
Neurological disorders number in the hundreds. Continued expansion across the indication spectrum on a single cleared platform.
Government healthcare
Partnering with national health systems to address the coming neurological disease crisis at population scale.
Corporate health
Neurological baseline programmes for high-performance workforces. No cleared competitor exists in this space.
Wellness & longevity
Brain performance for clinics and consumers. Subscription model. Recurring engagement, longitudinal data.
Investment thesis & raise

The infrastructure play.
Now raising.

Neurological medicine is at the same inflection point oncology was in 2012. The treatments exist. The detection infrastructure does not — yet. Spryson is the only cleared platform positioned to build it.

This capital does not fund the business. The business is already funded by revenue. This capital funds the speed of scaling — compressing five years of organic growth into eighteen months.

$15M
Raise
$75M
Valuation cap
$300M+
Series B target
Convertible Note  ·  8% per annum  ·  20% conversion discount  ·  $75M valuation cap

We are meeting with a select group of investors now. If you would like to be part of that conversation, reach out directly.

Use of funds
Product Development & AI Platform
$4.5M
30%
Commercialization — sales & marketing
$3.75M
25%
Clinical Research & Regulatory
$2.25M
15%
Hardware Manufacturing & Inventory
$2.25M
15%
Team & Operations
$1.5M
10%
Working Capital & Contingency
$750K
5%
Total
$15M
100%
The team

The combination of commercial scale, scientific IP,
and clinical deployment experience is rare in a single company.

Rob Adelson
Rob Adelson
CEO & Co-founder
25+ years in business leadership, innovation, and technology commercialisation. Founded and exited three companies.
Prateek Dwivedi
Prateek Dwivedi
COO & Co-founder
25+ years in AI, medical devices, and digital health. Formerly Neurolign, Ehave, Mount Sinai, MaRS.
Alex Kiderman PhD
Alex Kiderman PhD
Chief Science Officer
30+ years in medical diagnostics. 26 US patents. 20+ peer-reviewed publications.
Hans Krueger
Hans Krueger
VP Strategy
20+ years in corporate growth. Former CEO MetaDesign. Worked with Google, Facebook, and GE.
Cher Wee Pay
Cher Wee Pay
CFO
20+ years in private equity, corporate finance, and public services in Asia.
Dr. Wai Chiong Loke
Dr. Wai Chiong Loke
Senior Advisor, Health Systems
Professor at NUS & SIT. Former senior leader at Singapore MOH, EDB, SingHealth, and NHG.
David Tsang
David Tsang
VP Operations
20+ years in complex operations and business transformation. Start-ups, CX, people leadership.
Francis DellaVecchia
Francis DellaVecchia
VP Revenue & Impact
Entrepreneur specialising in scaling early-stage companies. Formerly King Pharma, Black Box.
Scientific advisors

World-class expertise
across every relevant domain.

Dr. Renato Anghinah
Dr. Renato Anghinah
University of São Paulo
Associate Professor of Neurology. TBI rehabilitation, quantitative EEG, and cognition.
Dr. Michael Ellis Hoffer MD
Dr. Michael Ellis Hoffer MD
University of Miami
Professor of Otolaryngology and Neurological Surgery. 35+ years. 70+ papers and multiple textbooks.
Dr. Carey D. Balaban
Dr. Carey D. Balaban
University of Pittsburgh
Professor in Otolaryngology, Neurobiology, and Bioengineering. Expert in balance and vestibular function.
Dr. Devon McCaslin
Dr. Devon McCaslin
University of Michigan
Clinical Professor and Director, Audiology Program. Expert in vestibular assessment and AI in balance disorders.
Dr. Charles C. Della Santina
Dr. Charles C. Della Santina
Johns Hopkins University
Professor of Otolaryngology. Founder and Director, Johns Hopkins Vestibular NeuroEngineering Laboratory.
Dr. Tad Simons
Dr. Tad Simons
Stanford / HP Laboratories
40+ years in healthcare design and strategy. Former Director, Healthcare & Life Sciences at IDEO.
Research & institutional partners
U.S. Army
Johns Hopkins
Mayo Clinic
NASA
University of Pittsburgh
University of Miami
VA
Three billion people. One platform.
The brain health infrastructure of the 21st century.
We are meeting with a select group of investors now.
If you would like to be part of that conversation, reach out directly.
To arrange a conversation
Rob Adelson, CEO
+1 646 288 4672 (WhatsApp)
Investor Overview · Confidential · Spryson Inc.