Manus Neurodynamica secures £1.2 million Seed Follow On investment led by Northstar Ventures

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MANUS SECURES £1.2M TO SUPPORT LAUNCH OF PARKINSON’S  PEN 

Edinburgh, UK – Monday 25th January 2021: 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. 

With this latest funding secured, Manus is rolling-out its NeuroMotor PenTM later this year, initially focusing on the UK and Benelux markets, while also progressing work to secure regulatory approval to start selling in US. Around 145,000 people live with Parkinson’s in the  UK and it’s the fastest-growing neurological condition in the world.  

Investors in this funding round included the North East Innovation Fund, supported 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. 

The NeuroMotor Pen employs sensors linked with analytical software which analyses the  slightest limb and hand movements to help doctors assess whether a patient has early signs  of Parkinson’s or other neurological conditions. As well as providing a quick, inexpensive,  non-invasive and objective aid to diagnosis, the CE-marked product also helps with the  ongoing monitoring of those conditions. 

The mission-driven business is currently in advanced talks to supply the pens to a leading  UK-based primary care group, following a development contract with NHS England to  develop a version that can be used in GP surgeries. The pen has passed clinical trials with  the NHS in the north-east of England and Scotland and is currently being used by  Northumbria NHS Foundation Trust. 

Led by CEO Rutger Zietsma, Manus has spent over 10 years developing the product, from  concept through to manufacture and roll-out. In January last year, the firm signed a five-year  contract with stationery brand Stabilo to manufacture the pens in Germany. 

Funding rounds, totalling £5m to date, including a £750,000 financing round, closed in May  last year, have been led by HealthTech investors Par Equity with support from the Scottish  Investment Bank, the investment arm of Scottish Enterprise, and Old College Capital. 

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,  trialing 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. Through faster and simpler diagnoses and objective patient monitoring with digital record keeping, we can help streamline the  pathway and deliver more successful treatment outcomes for the fastest growing  neurological condition in the world.” 

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. Working along with the other investors, we’re very pleased to support Rutger and his team through their next phase  of growth and impact creation.” 

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.” 

Notes to Editors 

About Manus Neurodynamica – www.manusneuro.com 

Dr Rutger Zietsma founded Manus in August 2008. The Company’s main activity is  designing, patenting and marketing innovative technologies used in medical devices and  personal care products which have the capability to improve people’s health and wellbeing. The Company implements quality procedures to medical standards. 

Its principal product is a sensor pen designed for use in the diagnosis and monitoring of  neuromotor impairments. The pen particularly focuses on patients with Parkinson’s disease  and uses limb and hand motion to diagnose patients quickly and non-invasively. It has  applications across not just diagnosis but also screening, monitoring, rehabilitation and drug  development for a number of different movement disorders. 

About NeuroMotorTM Pen 

NeuroMotor Pen™ (NMP) is a unique, patented and CE-marked medical device that  combines sensor technologies built into a digital pen with software and an analytical engine  with Decision Support System. The interface enables users to record non-invasively and  analyse parameters of minute limb and hand motion. This enables quantification of fine  motor skill. These parameters are used as ‘digital biomarkers’ to provide objective  information about movement abnormalities. NMP can be used to support diagnosis and  monitoring of Parkinson’s Disease and other neuromotor impairments. It has the potential to  be a quick, inexpensive, non-invasive, and objective aid to diagnosis that can provide a low  cost alternative to brain scans. 

About SIS Ventures

SIS Ventures is part of the Social Investment Scotland group and is authorised by the Financial Conduct Authority. It aims to support and grow high impact organisations through access to mission-aligned investment. Its goal is to become the go-to investor and partner for social entrepreneurs. Through their work, social entrepreneurs are helping to shape a more vibrant and cohesive economy, and the experienced SIS Ventures team will support them in creating greater social change. 

For more information about SIS Ventures, visit www.sisventures.com 

About Old College Capital 

Old College Capital (OCC) is the University of Edinburgh’s in-house venture investment  fund. It aims to support the University’s research, staff and students by investing in high growth, early stage businesses associated with the University. 

Northstar Ventures Limited  

Northstar Ventures is a venture capital and social investment firm based in the North East.  We provide funding for innovative, scalable businesses and high impact social enterprises.  We have been supporting entrepreneurs since 2004, seeking out strong teams with great  ideas that will drive high growth, scalable businesses, and sustainable charities. As the  North East’s leading early stage investor, we have invested over £100m into start-ups, early  stage businesses and high impact social enterprises in the region. Our investment managers  have a wealth of experience supporting new and growing businesses and bring commercial  and operational experience, PhDs and MBAs, international careers and even a micro business or two. Northstar Ventures is authorised and regulated by the Financial Conduct  Authority. 

Information About The North East Fund 

The North East Fund is a suite five venture capital and loan funds which was established in  April 2018, to invest £120m in around 600 North East businesses in the period to March  2023. The fund managers provide business development advice and investment finance to  small and medium sized enterprises based in the seven Local Authority areas of North East  England: Northumberland, North Tyneside, Newcastle, South Tyneside, Gateshead  Sunderland and County Durham. The programme encourages investment in and the  commercialisation of new technologies, including low carbon technologies, as well as  stimulating new business creation, private investment and entrepreneurialism in the North  East, with a view to creating over 2,500 new jobs. The North East Fund has overall  responsibility for the programme, which is delivered through five separate funds, each  managed by independent, FCA regulated fund managers. Details of these, and up to date  information on the progress of the programme, is available on The North East Fund’s  website: www.northeastfund.org 

The North East Fund has been established with funding from the North East of England  European Regional Development Fund programme, the European Investment Bank and  from returns on previous North East based, publicly supported investment funds. It is jointly  owned by the seven North East local authorities 

Information About the European Regional Development Fund 

The North East Fund will receive up to £58,500,000 of funding from the England European  Regional Development Fund as part of the European Structural and Investment Funds 

Growth Programme 2014-2020. The Ministry for Housing, Communities and Local  Government is the Managing Authority for European Regional Development Fund.  Established by the European Union, the European Regional Development Fund helps local  areas stimulate their economic development by investing in projects which will support  innovation, businesses, create jobs and local community regenerations. For more  information visit https://www.gov.uk/european-growth-funding. 

Information About the European Investment Bank 

The European Investment Bank (EIB) will lend up to £60,000,000 to the North East Fund  programme. The European Investment Bank is the long-term lending institution of the  European Union owned by its Member States. It makes long-term finance available for  sound investment in order to contribute towards EU policy goals. For more information, visit:  http://www.eib.org/about/index.htm

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Safiya Marzook

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