Exeter's Neuronostics raises seed round to fund growth

A medtech start-up in the South West that has developed technology which allows faster and more accurate epilepsy diagnoses, has raised £300,000 in seed funding.

Neuronostics, which won last year's HealthTech award at the Tech South West Awards, raised the cash from a group of private investors who are establishing a new venture capital fund called QantX Ventures.

Professor John Terry, Co-Founder and Managing Director, said: “Securing this seed fund investment is incredibly exciting for the future development of Neuronostics. Our products have the potential to bring many benefits to the millions of people impacted by epilepsy.”

The firm's patented technology is built upon advanced AI tools that interrogate routinely acquired clinical data to reveal the risk of future seizures. It will use the money to accelerate development of its clinical decision support system #BioEP and its home management smartphone app #ConnectEP. 

Richard Haycock, Co-Founder of QantX Ventures, who will join the board of Neuronostics, said: “We are excited to become part of the Neuronostics journey, they have pioneered innovative technology that will make a significant positive difference to the lives of many people around the world.”

The company, which is based at the Living Systems Institute at the University of Exeter, said it is expecting CE marking for the first-generation of #BioEP later in 2021. 

Dr Neil Hayes, Head of Commercial and Business Programmes at the University of Exeter, said: “This investment will help bring the technology a step closer to bringing real benefit to people living with epilepsy. The University of Exeter is pleased to be working with Neuronostics and QantX Ventures to deliver meaningful impact from our world leading research."