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2011 Brain Resource Ltd Annual Report



2011 Brain Resource Ltd Annual Report Released

This last year has seen the market for clinical, commercial and consumer brain products go mainstream, with our company leading what has become a global brain race.
Highlights and transformative milestones achieved during the past financial year included:

  • Completion of the first 1,000 patients in the iSPOT Depression study with analysis well underway and a meeting has been requested with the FDA to discuss emergent diagnostic tests.
  • MyBrainSolutions web product sales expanded to 8 large Corporate employers (covering 110,000 employees) and a growing pipeline covering over 500,000 employee users.
  • Clinical Decision Support Report sales grew to 11,000 during the year, with the largest growth being in WebNeuro which added 43 new clinical user groups.
  • Establishment of a U.S. office in San Francisco (operating through Brain Resource, Inc., our newly established US entity) and expanded sales and marketing team.
  • Och-Ziff managed funds became a strategic investor in Brain Resource through subscribing for $10m of Convertible Bonds.
  • Full year profit of $1.3m excluding foreign exchange losses, or $0.3m including these losses, revenues of $5.7m and a cash balance of $8.4m.

    The full report is available at www.brainresource.com