Investors have backed Scottish startup Manus Neurodynamica with £2.6 million ($3.2 million) to ramp up European commercialisation of its neuromotor assessment device, the NeuroMotor Pen (NMP).
The handheld device is designed to assist in the diagnosis and monitoring of neuromotor disorders, including Parkinson’s disease.
The pen uses a combination of sensors and software to track and analyse limb and hand motion, enabling the assessment of motor skills. The company believes the technology can be a cheaper alternative to brain scans and has additional applications for several neurological disorders.
Manus’ existing investors including North East Innovation Fund, Par Equity, and the European Regional Development Fund joined the round.
Manus CEO Rutger Zietsma told Medical Device Network the funds will be used for a continued launch of NMP in the EU pharmacy retail sector. The company has also expanded its senior management team.
“There is a growing need, due in part to ageing populations and waiting lists, for an affordable [neuromotor] assessment to improve the patient pathway and provide reassurance to patients with benign movement symptoms,” said Zietsma.
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He added that the funds will also be used for a US trials and commercialisation strategy, however Europe will remain the priority. The company is expecting its first FDA approval by the end of 2023.
The investment follows previous support received by the company in January 2021 in the sum of $0.85 million (£1.2 million). In May, the company signed an agreement with Italian wellness management systems and services provider, Medispa, to integrate the NMP with its Prevention Suite platform which is used by 10,000 pharmacies in Italy.
The deal expands patient access to low-cost screen testing which is normally reserved for specialist clinics and will target three markets including pharmacy retail screening, patient screening trials and prevention screening for employees at large companies.