Agile Capital Markets

Our latest deals : Domain Therapeutics ($42M series A), Ludocare (€4.2M Seed), Spine Innovations (M&A sell-side, un-disclosed amount), Neurofenix ($7M series A), Incepto (€27M series B)

Neurofenix secures $7million to fuel expansion

The at-home stroke rehab device is set to expand in the US, with further additions to its suite of products planned

Digital neuro-rehabilitation platform Neurofenix, which is helping to revolutionise remote rehabilitation for stroke patients, has secured $7million to help fuel its expansion and fund clinical trials in the United States. 

Neurofenix, founded in 2016, uses sensor technology to improve patient recovery outcomes and widen options in neuro-rehab through its ability to deliver clinical grade rehabilitation remotely. 

Its offering currently focuses on arm and hand therapy through its NeuroBall device, supported by its telemedicine platform Neurofenix Portal. 

Now, to help expand its product line further and invest in expansion into the United States – including clinical trials – Neurofenix has secured $7million in Series A funding, in a round led by AlbionVC, with additional participation by HTH, InHealth Ventures, and existing investors.

Guillem Singla Buxarrais, CEO of Neurofenix, who co-founded the business with Dimitrios Athanasiou, said: “Over the last six years, we have been creating and developing our patient-centric sensor-based technology and platform to transform neuro-rehab. 

“In clinical studies, NeuroBall was proven to motivate patients to do hundreds of movement repetitions independently at home, which led to significant improvements in the range of motion, reduction of arm pain and return to daily activities using their arm and hand after a stroke. 

“This has proven transformative to neuro-rehab as previously patients would not have access to in-person physical or occupational therapy due to factors such as insurance, financial, transportation and health barriers.

“We’re excited to partner with AlbionVC, HTH, and InHealth Ventures, and are hugely grateful for their support to scale our unique neurological therapeutics platform that we believe will change the world of neuro-rehab.”

The NeuroBall has been hailed as a significant breakthrough in neuro-rehab, having been designed with input from over 300 therapists and patients. 

The device is personalised to each patient based on their current needs and enables them to perform increasingly challenging, repetitive movements to help build up strength. 

The advanced sensors detect the smallest of movements so it can be used by impaired patients, whilst the corresponding app has activities and digital games to engage patients to use it regularly. The real-time feedback means they can see their progress on leaderboards to help motivate them to continue. 

In three separate trials carried out at Brunel University London between 2017 and 2021, patients achieved 20 times more movement repetitions at home compared to other methods. 

The portable nature of the device means they can take it anywhere with them to help regain strength, and patients can carry out their rehab exercises at home and record the results on the Portal which enables remote patient monitoring. 

Dr Charles Carignan, Neurofenix board member, said: “Around 900,000 people in the US and UK experience a stroke every year, and most do not recover to their full potential physically, due to the lack of access to intensive physical and occupational therapy. 

“I was blown away by what NeuroBall could provide to aid a patient’s recovery, including the utility for the hand or arm, the sensors, software and gamification. 

“This is just the start of the Neurofenix journey as a sophisticated neuro-rehab program.”

Andrew Elder, deputy managing partner at AlbionVC, said: “Neurofenix is poised to revolutionise physical recovery after a neurological injury, such as a stroke, traumatic brain injury or spinal cord injury. 

“Its digital therapeutics platform, which can be used in rehabilitation clinics and by an individual bringing clinical-grade treatment into the home, which generates recovery of movement, strength, and activities of daily living faster and with better results. 

“With my background as a neurosurgeon, I could see that Neurofenix is positioned to fill a major gap in the neuro-rehab industry.”

Related posts

acticor
admin

Acticor Biotech announces the enrollment of the first US patient in its Phase 2/3 study ACTISAVE for the treatment of stroke

Paris, France, September 26, 2022 – 06:00pm CEST – ACTICOR BIOTECH (ISIN: FR0014005OJ5 – ALACT), a clinical-stage biotechnology company developing innovative drugs for the treatment of cardiovascular emergencies, particularly stroke, today announced the enrollment of the first patient in the USA in its Phase 2/3 registration study ACTISAVE, which is evaluating glenzocimab in patients with acute ischemic stroke.

Read More »