About The Company

Cortical Dynamics Ltd is an Australian Medical Device unlisted public company headquartered in Perth, Western Australia with operations in Scoresby, Victoria.

Focused on commercialising the intellectual property originally developed at Swinburne University in Melbourne. The core-product the Brain Anaesthesia Response (BARM™) System has been developed with the objective of better detecting the effect of anaesthetic agents on brain activity, aiding anaesthetists in keeping patients optimally anaesthetized.

The BAR monitoring system is based on recent innovative developments in our understanding of how the brain’s rhythmic electrical activity, EEG, is produced. This approach produces indices directly related to the physiological state of the brain, which is fundamentally different to all other currently available devices.


Ashley Zimpel

Business developer, corporate financier and investment banker with broad financial markets experience and a strong focus on innovation and business strategy. 35year track record of founding, investing in and establishing businesses in financial capital markets, agribusiness and fintech. Held senior level positions at financial institutions and ASX listed companies including Macquarie Bank and Bankers Trust Australia.

David Breeze

Corporate finance specialist with extensive experience in the stock broking industry and capital markets. He also hold the role of Chairman of Grandbridge Ltd and BPH Energy Ltd, both ASX listed businesses.

Charles Chang

Formed Accolade, Inc. in 2000 and then Susterra EnVision in 2017, a developer of renewable energy solutions. Provides strategic advisory services to domestic/foreign corporates and private equity. Develop renewable solutions. Prior to Accolade, Managing Director at Bankers Trust. MSc. from Dartmouth and B.A. in Economics from University of California Berkeley. Served on several boards. US citizen, currently resides in Korea.

Technical Team

Louis Delacretaz

Co-Founder with 30+ years experience as managing or technical director for number of successful biotechnology, ICT and electronic manufacturing companies. Extensive experience in strategic planning, leading operational initiatives and operational management of business development, design & production facilities for globally marketed products. In-depth experience with government agencies, international organizations and forming start-up organizations. Fellow of the Australian Institute of Company Directors.

Mehrnaz Shoushtarian

Principal Scientist. Graduated with a Ph.D. in Biomedical Engineering from Monash University. Her research focuses on measurement and processing of physiological signals using conventional and novel recording techniques to monitor neural processes and apply these in medical devices.

Adrian Sultana

Anaesthetist and clinical lecturer in Anaesthesia at the Australian School of Advanced Medicine, Macquarie University. Long-term interest and experience in anaesthesia and perioperative management of bariatric surgical patients and is currently the Executive Secretary of the International Society for the Perioperative Care of the Obese Patient. Current research include novel airway techniques during anaesthesia for the morbidly obese; target controlled intravenous anaesthesia and opioid free anaesthetic techniques for Bariatric Surgery.

Key Opinion Leader – Dr Adrian Sultana MD FRCP FANZCA

BARM™ was “Remarkably stable and the responsive signal permitted a new level of belief in the awareness monitoring technique and allowed me to run cases at a CCS index of 45 with confidence in early tapering of the patients anaesthesia using TCI (infusions of propofol and remifentanil)”.

“Significant reduction in anaesthesia recovery time using TIVA (Total Intravenous Anaesthesia is a technique of general anaesthesia which uses a combination of agents given exclusively by the intravenous route without the use of inhalation agents) with the BARM™”.

Dr Sultana was very impressed with BARM™’s stability and speed of response. He reported that “he was able to administer significantly less TIVA.”

Dr Sultana commented that “Often when using the BIS/Entropy, they dramatically lag the patients’ emergence and I have had patients who take up to 20 minutes to wake up after exceeding the index of 65 on either modality, or conversely that in a rapidly changing situation, eye opening of the patients may occur before the processed EEG signal “takes off” from a baseline of the index number 35-45. However, while using BARM™, my patients emerged reliably at a Composite Cortical State (CCS) index of 70.”

Please see video of Dr. Sultana’s review by clicking here

BARM™ Validation

Therapeutic Goods of Australia (TGA) and CE (Europe) certified

Successfully used in over 200 operations worldwide

Key Opinion Leaders endorsement and 12 clinical publications

Received Korean audit (KGMP) approval of Cortical’s manufacturing facility at Scoresby, Victoria, Australia on 25 September 2019

Ready for manufacture and sales

Distributor discussions progressing

Extensive 22 global patent coverage including USA, Asia, Europe, ANZ

Completed or continuing trials in 12 hospitals in ANZ, Europe and UK

Winner Australian Advanced Manufacturing Technologies Competition 2016