Neupulse, a University of Nottingham (UK) spinout, has secured a £500k in equity funding.
The funding was raised through the Midlands Engine Investment Fund II, facilitated by appointed fund manager for the East and South East Midlands, Mercia Ventures. It followed a £2.5M investment earlier this year from a consortium including Eos Advisory and US-based investors and brings the total the company has raised to date to almost £4.5M.
The company intends to use the funds to finalize the development of its device and carry out further trials as it seeks to gain regulatory approvals in the UK, Europe and the USA.
Founded in 2021 by Professors Stephen and Georgina Jackson, with Dr Barbara Morera at the University of Nottingham, and led by Paul Cable, CEO, Neupulse is advancing a safe, non-drug treatment to help manage the symptoms of Tourette’s syndrome. The wristband device stimulates the median nerve in the wrist to help control the tics or involuntary movements caused by Tourette’s syndrome. Clinical trials have shown the device can reduce tic frequency on average by 25% on initial use, with a further reduction in frequency after four weeks of use.
FinSMEs
05/08/2024