Manus Neurodynamica said the round was led by Par Equity with support from the Scottish Investment Bank (SIB), and Old College Capital, the University of Edinburgh’s venture fund. It marks the third investment Par Equity has made since its recent partnership with British Business Investments through the Regional Angels Programme.
The investment will allow Manus to grow the team to support the commercial rollout into the global clinical and clinical trials markets, to add new clinical indications and to develop the next generation of products. Its NeuroMotor Pen captures and analyses “the slightest” limb and hand movements, giving medics “a non-invasive, early detection and monitoring tool kit”.
Chief executive Rutger Zietsma said: “We are excited to be working with Par Equity and our other new shareholders to accelerate the commercialisation of our neuromotor assessment technology. From our very first meeting it was obvious that we and Par Equity shared a vision of the global potential for the product, not just in Parkinson’s disease but in many other clinical indications.”
SIB director Kerry Sharp commented: “Manus Neurodynamica has enjoyed positive outcomes in clinical trials at home and internationally, and we are happy to provide continued support to the company through the next stage of its growth plans.”
Meanwhile, Alva-based medical testing company Omega Diagnostics has welcomed major progress by the consortium in which it is involved on developing a Covid-19 lateral flow antibody test that can be used at home.
The life sciences firm had noted in April that it had signed a memorandum of understanding with Abingdon Health, BBI Solutions, and CIGA Healthcare, in conjunction with the University of Oxford to form the UK-Rapid Test Consortium to jointly develop and manufacture a Covid-19 Rapid Test as part of the UK government’s five pillar national testing strategy.
Omega yesterday praised the “significant” progress made to date in such a short period of time, with “design freeze” on the test expected in June. After that the Scottish firm will provide volume manufacturing capacity of the test.
Chief executive Colin King said: “Everyone is working extremely hard to deliver a high-quality product as soon as possible to help play a part in returning life back to more normal levels in the UK.”
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