Press Releases2011EGI Continues to Post Solid Growth in 2010With a boost from a strong market response to its breakthrough 256-channel EEG/fMRI product, Electrical Geodesics, Inc. (EGI) experienced solid growth in 2010. Sales revenue grew 7.85% to $8.77M with total revenues rising 13.8% to $10.77M. The 2010 revenue figures mark the fourth consecutive year of sales growth, which averaged 16.75% year on year. Total revenue growth has averaged 9.1% year on year for that same period. Following the pattern established in 2009, US sales accounted for approximately half of the revenue with strong sales also reported in Europe, Asia, and in emerging markets such as India and South America. Commenting on the 2010 revenue results, EGI President Ann Bunnenberg said “As with prior years, our solid growth reflects our ability to consistently deliver innovative, competitively priced products to our customers both in research and medicine, even during difficult global economic conditions. This enables us to support the innovative work pioneered by our customers as they use advanced EEG methods to expand the understanding of the fundamental operations of the human mind and translate those insights into improved neurological care. “This year our customer base has been extraordinarily productive in a wide range of applications, with particularly striking results published in the areas of child neurological development, epilepsy surgery, autism, and brain source imaging. We hope to see the first studies coming out with the new EEG/fMRI system by late 2011, as our first customers for that product complete their initial studies.” A key development that will galvanize sales in the larger clinical neurology market in 2011 is the recent FDA clearance of GeoSource 2.0, EGI’s flagship EEG source estimation software. “This product allows the neurologist to visualize the recorded brain activity in a realistic model of the brain rather than relying on patterns in scalp EEG alone,” Bunnenberg added. “The approval of this product is a key milestone in EGI’s migration of its industry leading dEEG technology from the research arena into clinical applications in areas such as epilepsy and presurgical planning. Combined with our new EEG/fMRI product, the clearance of GeoSource 2.0 is expected to contribute significantly to continued growth in 2011.” EGI’s science team bolstered the company’s bottom line with approximately $2M in new grant funding. Dr. Don Tucker, EGI’s founder and CEO, noted that the new grants will promote key advances in a range of applications from emergency neurology to pediatric EEG, as well as support the development of innovative new technologies using novel materials. “The single most compelling element of our new grants is that nearly all of them involved partnering with a major academic institution or an innovative technology company,” Tucker remarked. The 2010 grants and contracts at EGI involve basic research, such as neural mechanisms of language learning, and several areas of new technology development, including head conductivity assessment for improving dEEG source localization and computational methods for dEEG pathology recognition in medicine. Looking ahead, Ann Bunnenberg said, “We look forward to a year of dynamic technology and product innovation that supports the outstanding clinical and research efforts of our customers.” About EGIImproving neurological health is one of the key challenges of the twenty-first century. Cost effective, high clinical yield functional imaging of the brain is a key technology to address these challenges. Electrical Geodesics, Inc. (EGI) (http://www.egi.com) has developed a dense array electroencephalography (dEEG) technology that is now widely used in human neuroscience research laboratories around the world, addressing topics such as the mechanisms of visual attention, the abnormal frontal lobe development in autism, and the neurophysiological processes of normal sleep. It has pioneered the introduction of advanced EEG techniques to the clinical market worldwide in core clinical applications, such as epilepsy presurgical planning, autism, sleep, and diagnosis of brain disease. Contact: GeoSource 2.0 Now FDA 510(k) ClearedEugene, Oregon, USA – February 1, 2011 - Electrical Geodesics, Inc. (EGI) is pleased to announce that it has received a US FDA 510(k) pre-market clearance letter for its source estimation software, GeoSource 2.0, under the new OLX FDA product code covering “Source Localization Software for EEG or MEG.” GeoSource is now cleared for use with adults and children three years of age and older. GeoSource 2.0 allows the use of 128- or 256-channel scalp EEG data to estimate the source of electrical activity within a high-resolution atlas model of the brain using the well-known distributed, discrete, and linear inverse solutions LAURA, LORETA, and sLORETA. As a part of the clearance process, EGI was required to submit both simulated and actual epileptiform patient data to demonstrate the performance and limitations of the source imaging methods used. For more information about GeoSource 2.0, contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it . “The release of GeoSource 2.0 represents more than a year of concentrated effort from our science and engineering teams,” said EGI Chief Technology Officer, Dr. Phan Luu. “The FDA submission required that we present results of our extensive testing to ensure the appropriateness of the "atlas" head model for a wide range of age groups, which we think is very important.” GeoSource offers both spherical and finite difference method (FDM) head models. The FDM is a high-resolution "atlas" model that accurately describes the different tissue geometries, as well as their conductivities, which is critical for accurate estimation of sources. A significant improvement in GeoSource 2.0 is the inclusion of the sLORETA standardization method developed by Roberto Pascual-Marqui of the Key Institute. This method standardizes the variance of each dipolar source across the array of sensor positions. With EGI’s whole head coverage, including the inferior regions, the 128- and 256-channel EEG recordings ensure that variance standardization is appropriate. When electrodes are located only on the top of the braincase, the variance of the dipolar fields (and thus the head surface) will not be sampled adequately to meet the sLORETA assumptions. Another important advantage of sLORETA is its robustness to both noise and regularization. By optimizing GeoSource for the sLORETA solution method, we have been able to simplify the source model controls (by eliminating options that are no longer necessary) and to provide simpler guidelines on how to set regularization levels for a given data set to achieve stable results quickly. GeoSource 2.0 was reviewed under the new FDA source imaging product classification. Prior to the adoption of the new product classification, source imaging products were reviewed as a part of the general EEG system product class. EGI’s President, Dr. Ann Bunnenberg, commented, “We see the adoption of the new product classification codes by the FDA as recognition of the increasingly important role played by these kinds of powerful, non-invasive source imaging products in clinical practice. We are very pleased that GeoSource 2.0 was one of the first products approved under this new product code.” Based in Eugene, Oregon, EGI is the leading developer and manufacturer of dense array EEG systems for medicine, neurosurgery, and neuroscience research worldwide. Additional background information on EGI is available at www.egi.com. Contact: 2010Dense Array Brain Waves for Evidence-Based MedicineEugene, Oregon – November 8, 2010 - Lifecom, Inc. and Electrical Geodesics, Inc. (EGI) received a $1M grant from the US National Library of Medicine to provide physicians with rapid, easily interpretable, evidence-based information on a patient’s brain status. Lifecom, Inc. has created a clinical decision engine that integrates immediate diagnostic information on a patient’s health status with expert knowledge about disease conditions to alert the physician to possible diagnoses, additional testing needed, or choices for clinical management. EGI has created a dense array electroencephalographic (dEEG) brain monitor that can be applied quickly in routine clinic, emergency, or intensive care settings. By integrating automated pattern recognition from high performance computing algorithms, EGI is able to detect both obvious and subtle problems in brain function during continuous brain monitoring. Expert neurologists are now consulting on this project to organize the clinical indications of each dEEG abnormality. These indications are integrated within the extensive medical evidence base within the clinical decision engine. The integrated clinical neurophysiological decision engine will then allow physicians and emergency medical personnel to integrate sensitive measures of the brain’s state with extensive medical evidence to optimize clinical decisions at the point of care. About EGIImproving neurological health is one of the key challenges of the twenty-first century. Electrical Geodesics, Inc. (EGI) has developed a dense array electroencephalography (dEEG) technology that is now widely used in human neuroscience research laboratories around the world, addressing topics such as the mechanisms of visual attention, the abnormal frontal lobe development in autism and the neurophysiological processes of normal sleep. Founded in 1992, EGI set the goal of making dense array EEG (dEEG) practical and affordable for research laboratories. There are now more than 500 EGI-supported research laboratories in 28 countries around the world. EGI systems have supported the research in more than 550 publications in leading scientific and medical journals. Contact: About LifecomLifecom is a Portland, Oregon-based information technology company focused on reducing health care costs while improving quality and safety through improvements in the accuracy and timeliness of medical diagnosis and management. Our suite of products comprises an Individualized Health System (IHS) that will deliver sophisticated analytic, diagnostic, and management tools to patients and their providers. Lifecom has developed a highly graphical electronic medical diagnosis and record system powered by patented artificial intelligence (AI) coupled with proprietary software tools to capture medical knowledge, and a standardized clinical lexicon. Clinical trials conducted at Oregon Health & Sciences University have validated both the ease of use and clinical efficacy of the Lifecom System. Contact: 2009EGI Reports Solid Growth in 2009High-end technology company reports 10% overall growth during recession Eugene, Oregon – April 12, 2010 - Despite challenging economic conditions, 2009 was EGI’s best year ever. Net sales were $8.2 M. Total revenues reached $9.5 M, with a modestly profitable bottom line. This strong performance represents a 10% growth in sales over the prior year. International sales, particularly in the European Union and Asia, rose sharply and accounted for approximately 50% of EGI’s total net sales in 2009. Important to EGI’s strong momentum in 2009 was the announcement of a number of new products, including GES 300 MR, which is the world’s first truly high channel count EEG system for use in MR environments, and the new GEM product line for ambulatory and routine EEG applications. Critical to EGI’s success is the success of our customers. In 2009, EGI’s clinical and research customers published their work in more than 150 articles in peer-reviewed journals. Particularly exciting was the growth in the number of clinical publications employing EGI technology in core clinical applications, such as epilepsy, pre surgical planning, and autism. In addition to customer publications, customers have supported EGI with their overall customer satisfaction, professional referral rate, continued reorders, and constructive clinical and research feedback for certified and beta products. Commenting on EGI’s 2009 success, EGI President Dr. Ann Bunnenberg said, “The strong support we received from our research and clinical customers worldwide in 2009 has put EGI in a strong position to continue reinvesting to expand its product line, support, and training capabilities.” “EGI’s continuing investment in new product development and feature enhancement for existing products will result in a rich stream of product releases and new features for our customers in the upcoming months,” Dr. Bunnenberg added. “We at EGI deeply appreciate the support of the international neurology and neuroscience communities in making it possible for EGI to continue to grow even during a difficult economic period.” In 2010, EGI will continue to engage in research that leads to innovative products for EEG and advanced brain imaging. The success of EGI scientists in securing funding from the National Institutes of Health, Department of Defense, and Small Business Innovation Research programs will allow aggressive innovation to support new products. EGI customers can expect a regular progression of upgrades and advances to keep them on the cutting edge of scientific technology. About EGIImproving neurological health is one of the key challenges of the twenty-first century. Electrical Geodesics, Inc. (EGI) has developed a dense array electroencephalography (dEEG) technology that is now widely used in human neuroscience research laboratories around the world, addressing topics such as the mechanisms of visual attention, the abnormal frontal lobe development in autism, and the neurophysiological processes of normal sleep. Founded in 1992, EGI set the goal of making dense array EEG (dEEG) practical and affordable for research laboratories. There are now over 500 EGI-supported research laboratories in 28 countries around the world. EGI systems have supported the research in over 550 publications in leading scientific and medical journals. Contact: 2008Electrical Geodesics, Inc. (EGI) Licenses Key Technology for EEG/fMRI Recording from UCLAEugene, Oregon - November 18, 2008 - New techniques for imaging the functional activity of the human brain by simultaneously recording changes in its electrical activity (EEG) and blood flow (fMRI) are contributing important insights into normal and pathological brain functioning. However, the EEG signal recorded with existing EEG/fMRI technologies is often of disappointing quality. Today, EGI announced that it had licensed a key patent from The Regents of the University of California covering methods for improving the signal quality of the EEG when it is recorded during an MRI exam (U.S. Patent No. 7,286,871, “Method and apparatus for reducing contamination of an electrical signal”). The licensed techniques, developed by Dr. Mark Cohen of UCLA’s David Geffen School of Medicine, allow the artifact introduced into the recorded EEG signal by the large gradient pulses emitted by the MRI during its normal operation to be effectively removed from the data using timing pulses generated by the MRI. Additional claims in the patent protect the use of “twisted” pairs electrodes to help improve the signal-to-noise ratio, which also results in cleaner EEG recordings. Commenting on the importance of the Cohen patent, Dr. Don Tucker, CEO and Chief Scientist of EGI said, "Low noise recordings are essential to allow EEG source localization for the MR-registered recordings. The UCLA technology provides a unique and effective method of noise cancellation in the MR environment." EGI plans to incorporate the licensed technology in its announced Q-1 2009 release of the world’s first truly high-density MRI compatible EEG system: the 256- and 128-electrode Geodesic EEG System (GES) 300-MR. This new high-density EEG/fMRI system will be available as an upgrade package to its existing, industry-leading dense array EEG system (dEEG), the GES 300. Ann Bunnenberg, President of EGI noted, “EGI is particularly pleased to make this important new technology available to all of our current GES 300 system customers.” Based in Eugene, Oregon, EGI is the leading developer and manufacturer of dEEG systems for medicine, neurosurgery, and neuroscience research worldwide. Additional background information on EGI is available at www.egi.com. |