Neuronostics Raises £3M to Advance Digital Biomarker Platform

Neuronostics, the Bristol-based MedTech company developing a clinically validated digital biomarker platform, has raised £3M in a funding round co-led by Empirical Ventures and The FSE Group. The round also includes participation from British Business Bank’s South West Investment Fund, Ascension Ventures, QantX, New Wave Venture Partners, and Angel Investors Bristol. The equity investment was further strengthened by a £400K Innovate UK Investor Partnerships grant. The first clinical use case of the Neuronostics platform is through the delivery of BioEP, which uses computer algorithms to analyse brain activity (EEGs) with application to diagnosis and prognosis for people with suspected epilepsy. Ralph Singleton, Head of Equity South West at The FSE Group, said: “As a fund manager for the British Business Bank’s South West Investment Fund, we are proud to support pioneering MedTech companies based in this dynamic region. Neuronostics has outstanding scientific credentials and this investment will enable the drive towards global adoption of their technology.” The investment will enable three strategic priorities: US regulatory and reimbursement work, including an FDA submission planned for 2026; broader NHS adoption of BioEP; and development of the platform to provide brain fingerprints of treatment response in pharmaceutical trials. Dr Johnathan Matlock, Co-Founder and GP of Empirical Ventures, said: "Neurology has lacked objective tools for too long. BioEP addresses a genuine clinical need. This investment will help the team pursue FDA clearance and build a sustainable commercial presence in two of the world's most important healthcare markets. The investor syndicate reflects the strength of both the science and the commercial opportunity." Reimagining epilepsy diagnosis and care People with suspected epilepsy wait over a year for a diagnosis, misdiagnosis rates can exceed 30% and around half are not seizure free one year after starting treatment. Professor John Terry FMedSci, Co-Founder and Managing Director of Neuronostics, said: "We have the scientific foundation and clinical evidence for BioEP. The quality of the investor syndicate reflects the strength of the commercial opportunity that builds from this. The regulatory path is clear, the partnerships are in place, and NHS adoption is building. Patients should not have to wait so long for answers. This is the reason our work matters." The key challenge is routine EEGs are inconclusive in over 70% of cases. This leaves clinicians without objective guidance and patients facing prolonged uncertainty. BioEP addresses this by analysing brain activity using eight predefined computational biomarkers. Combined, these indicate the level of support for epilepsy causing symptoms, with a report generated in under five minutes from a standard EEG recording. The platform is UKCA-marked and ISO13485 certified, having been validated across 15 NHS sites and over 1000 recordings. NHS service evaluations are progressing at multiple Trusts, including The Royal Wolverhampton NHS Trust and University Hospitals Dorset.Neuronostics' strategic partnership with Stratus, the largest provider of EEG services in the United States positions BioEP for scalable US deployment following FDA clearance. Charlie Alvarez, Non-Executive Director of Neuronostics and CEO of Stratus, said: " Stratus encounters the diagnostic gap that BioEP is designed to address every day. Our integration is in place. The planned FDA submission is a meaningful milestone, and we look forward to bringing BioEP to patients and clinicians across the US." Lizzy Upton, Senior Investment Manager, British Business Bank, said: “As a priority sector in the UK's Industrial Strategy, life sciences have a vital role to play in driving innovation and economic growth. Neuronostics is a strong example of a South West business translating cutting-edge science into positive healthcare impact, and we're pleased to support its next stage of growth through the South West Investment Fund.”