It is estimated that around 145,000 people live with Parkinson’s in the UK. To help the same and detect the early signs of the disease, Edinburgh medtech company Manus Neurodynamica Limited (“Manus”), has closed a £1.2M funding round to support the launch of its digital pen which provides an early warning of Parkinson’s disease and other neurological conditions.
Funding to back launch of digital pen
Manus secured funding from the North East Innovation Fund backed by the European Regional Development Fund and managed by Northstar Ventures profit with purpose investor SIS Ventures and Old College Capital, the University of Edinburgh’s venture fund.
This funding round comes after the £750K investment closed by the company in May last year, which was led by HealthTech investors Par Equity along with support from the Scottish Investment Bank, the investment arm of Scottish Enterprise, and Old College Capital. With this, the overall investment in the medtech company accounts to £5M.
With this latest funding secured, Manus is rolling-out its NeuroMotor PenTM sometime later this year.
Dr Rutger Zietsma, Chief Executive Officer of Manus Neurodynamica, said: “2021 looks set to be an extremely busy year for Manus. Having spent more than 10 years developing, trialling and refining our first product, we can finally look forward to seeing our NeuroMotor Pens implemented more broadly and making a real difference to the lives of people living with Parkinson’s and other neurological conditions.”
Rob Halliday, Fund Manager, SIS Ventures said: “Manus is one of Scotland’s most promising early stage medtech companies, with the potential to make a huge impact. With its disruptive technology, mission-led approach, and ambitious management team, Manus is exactly the kind of business we look to invest in at SIS Ventures.”
Rick Charnley, Investment Manager, Northstar Ventures said, “Having originally been involved with the company via a previous investment used to develop the initial prototype, we’ve been impressed with the team’s enhanced mission and are delighted to support the Company further. We’re big believers in the impact Medtech companies like Manus can have on an ageing society.”
NeuroMotor Pen on cards!
The NeuroMotor Pen features sensors that are linked with analytical software, which analyses the slightest limb and hand movements. This helps doctors assess whether a patient has early signs of Parkinson’s or other neurological conditions. NeuroMotor Pen is a unique, patented and CE-marked medical device, which combines sensor technologies built into a digital pen with software and an analytical engine with Decision Support System. It is claimed to have the potential to be a quick, inexpensive, non-invasive, and objective aid to provide a low cost alternative to brain scans.
In talks with NHS
Initially, Manus founded by Dr Rutger Zietsma in 2008 will focus on the UK and Benelux markets. Also, it will progress work to secure regulatory approval to start selling in the US.
Currently, the mission-driven business is in advanced talks to supply the pens to a leading UK-based primary care group after a development contract with NHS England to develop a version of the Parkinson’s pen, which can be used in GP surgeries. Notably, this digital pen passed clinical trials with the NHS in the north-east of England and Scotland and is currently being used by Northumbria NHS Foundation Trust.