GrayMatters Health bets that PTSD patients can learn to calm brain activity linked to the amygdala. The Haifa company developed Prism, a therapy in which patients are connected to EEG and learn, by watching an animated scene react, to regulate a brain signal that the company says reflects amygdala activity, a marker it derived from functional MRI research.
The European Innovation Council granted €2,500,000 towards a €3.59 million project that started a PTSD study in Germany, and the EIC Fund invested in March 2023. That same month, the US Food and Drug Administration cleared Prism for PTSD, and GrayMatters launched it in the US in January 2024. Its news page since then covers clinic partnerships and insurance strategy. Patient numbers and revenue are not public.
Company file
- Legal entity
- GrayMatters Health Ltd., Haifa, Israel
- Product
- Prism EEG neurofeedback suite for PTSD; depression protocol
- Regulatory
- FDA 510(k) for PTSD (adjunctive); Israeli AMAR approval
- Markets
- United States; Israel
- Partners
- Sheba Medical Center; Atrium Health (case study); McLean Hospital (research)
- Investors
- Series A investors; EIC Fund
- EIC project
- GrayMatters for PTSD, 1 Sep 2022 to 31 May 2025
- EIC funding
- Blended finance
Where GrayMatters Stands Today
GrayMatters sells Prism to psychiatry clinics in the US. In November 2025 it introduced Prism360 to help clinics with "financing and coverage readiness", reporting "nearly 10,000 patient sessions" at "more than 30 clinics across the USA"; and in August 2026 it announced a payor strategy to widen insurance coverage. In September 2026 it published a case study with the US health system Atrium Health. It also lists a 2025 partnership with Sheba Medical Center in Israel. Its regulatory page gives the FDA indication as an adjunctive treatment for PTSD symptoms, "to be used under the direction of a healthcare professional". Beyond the session and clinic counts, it reports no patient numbers or outcomes.
The Technology: Learning to Calm the Brain
Prism uses what the company calls "fMRI-informed digital biomarkers": an EEG signal trained to track activity in the amygdala for PTSD, and in the reward system for depression. During sessions, patients try mental strategies such as memories or emotions to make animated characters respond, learning a skill they can use in daily life. The company says it only needs "a quiet room, table and chair and a trained Prism Operator".
"Prism self-neuromodulation is being used to help patients learn to regulate brain activity associated with their mental health condition."
GrayMatters Health websiteWhat the EIC Project Promised, and What CORDIS Shows
The project promised "a non-invasive, adaptive digital therapeutic solution for post-traumatic stress disorder and other mental disorders". The CORDIS report says a PTSD patient study "kicked off in 4 sites in Germany", with two more to follow, and refers to earlier trials with "significant positive clinical results". It gives no enrolment, outcomes or European regulatory status. The FDA clearance in March 2023 came before any results from the German study were published.
- A European PTSD studyPartialStarted in Germany; no results.
- Regulatory approvalDeliveredFDA clearance, March 2023.
- Commercial launchDeliveredUnited States, 2024.
- European market accessNot shownNo CE mark mentioned.
What Has Happened Since the Award
The Money
GrayMatters closed a $10 million Series A in January 2022, was awarded the EIC grant in September 2022 and received an investment from the EIC Fund in March 2023, according to its news page. The EIC Fund's amount was not disclosed. Revenue is not public.
What cannot be checked
How many patients and clinics use Prism, the results of the German study, whether a CE mark is planned and the EIC Fund's stake are not public.
Why Europe Should Care
The EIC grant funded a European study of a therapy that is now sold in the United States. That is a success for the company and its investors, including the EIC Fund. For European patients, the value depends on whether Prism is approved and sold here, which the company has not announced.
What the project promised
A non-invasive, adaptive digital therapy for PTSD and other mental disorders.
What the record shows
FDA clearance and a US launch, EIC Fund equity, and a German study without published results.
The Verdict
A US product with EU money in it
GrayMatters reached the market, but in the United States. The European study the EIC paid for has not reported, and Prism has no announced path to European patients.
GrayMatters Health has not been asked for comment for this article. It is based entirely on company statements and EU project data, linked throughout.
