GlobeNewswire Inc | Aug 27, 2020 07:00AM EDT

August 27, 2020

NEW YORK, Aug. 27, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Brain Scientific Inc.(OTCQB:BRSF) (Brain Scientific or Company), a medical device and technology company offering products and solutions related to the brain including neurology, AI, and machine learning, announced today that its minimally invasive graphene electrode was selected as afinalist at the 2020 Epilepsy Foundation Shark Tank Competition.

TheEpilepsy Foundations Shark Tank Competitionis an initiative to advance innovative ideas in epilepsy treatment and care. The winners of the 2020 Shark Tank Competition will receive international recognition and compete forawards to support the development and commercialization of an important new product, technology, or therapeutic concept to help people with epilepsy.

Brain Scientifics minimally-invasive grapheneelectrode idea was one of five finalists selected to present at the Shark Tank Competition. The Company is developing subcutaneous graphene electrode implants and graphene electrodes printed by 3D printers on the scalp that connect to a micro EEG signal processor to provide continuous seizure monitoring and uninterrupted data collection. The micro EEG signal processor is the size of a stamp and is printed by 3D technology on the scalp near the ear for maximum comfort. The goal of this disruptive technology will be to improve the quality of life for epilepsy patients and to offer health care providers an effective and novel monitoring tool. Brain Scientific has collaborated withGrapheneCAto make this project a reality.

We are extremely proud of having our under-the-skin EEG implant be recognized by the Shark Tank Competition, saidBoris Goldstein, Chairman of the Board.Epilepsy as a whole is in dire need of a low cost and effective monitoring and data collection approach. Our technology aims to liberate epilepsy patients from having to waste time in hospital monitoring units.

The five finalists, including Dr. Goldstein on behalf of the Company, will present their discoveries at thePipeline Conference, held virtually on August 27. Brain Scientifics technology utilizes printed electrodes and connectors with on-the-scalp micro EEG processor, which increases the mobility of the technology.

About Brain Scientific Brain Scientific is a commercial-stage healthcare company with two FDA-cleared products, providing next-gen solutions to the neurology market. Brain Scientifics proprietary, clinical-grade neurological diagnostic devices are powered by machine learning algorithms that utilize big data analysis to optimize efficacy in diagnosis and patient care. To learn more about our corporate strategy, devices or for investor relations please visitwww.brainscientific.comor email us atinfo@brainscientific.com.

About Shark Tank Competition:

The Epilepsy Therapy Project, an initiative of the Epilepsy Foundation, invited entries that represent the most innovative new ideas in epilepsy treatment and care for its annual Shark Tank Competition. The winner(s) of the 2020 Shark Tank Competition will receive international recognition and compete for awards totaling up to $200,000 to support the development and commercialization of an important new product, technology, or therapeutic concept to help people with epilepsy. For more information, please visithere.

About GrapheneCAGrapheneCAis a privately owned, commercial-scale graphene-based materials manufacturer, and supply company headquartered in New York. It is dedicated to tackling the challenge of integrating graphene into real-world applications through the use of its own highly effective, scalable, and environmentally friendly production process. For more information, please visit https://grapheneca.com

Forward-Looking Statements Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words may, should, would, will, could, scheduled, expect, anticipate, estimate, believe, intend, seek or project or the negative of these words or other variations on these words or comparable terminology. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances, and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions, and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain additional financing, the significant length of time and resources associated with the development of our products and related insufficient cash flows and resulting illiquidity, the Company's inability to expand its business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, volatility in the price of the Company's raw materials and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC. The Company does not undertake to update these forward-looking statements.

Irina Nazarova 9174351226 nazarova@memorymd.com