Manus Neurodynamica Limited
£750,000 investment in Parkinson’s diagnostic
Scottish funds to support commercial roll-out of NeuroMotor PenTM
Edinburgh, UK – 3 June 2020: Manus Neurodynamica Limited (“Manus”), which develops and markets products for neuromotor assessment, including the NeuroMotor PenTM– a platform technology that can diagnose Parkinson’s disease and other movement disorders, announces it has closed a £750,000 financing round led by Par Equity with support from the Scottish Investment Bank, the investment arm of Scottish Enterprise, and Old College Capital, the University of Edinburgh’s venture fund. The investment in Manus is the third that Par Equity has made since its recent partnership with British Business Investments through the Regional Angels Programme.
The investment closed at the end of May and will allow Manus to grow the team to support the commercial roll-out into the global clinical and clinical trials markets, to add new clinical indications and to develop the next generation of products.
About the NeuroMotor PenTM
Manus’ product is a unique and patented diagnostic system which combines sensor technologies built into a digital pen with associated proprietary analytical software to capture and analyse the slightest limb and hand movements. These measurements provide objective information about movement abnormalities, equipping doctors and clinicians with a non-invasive, early detection and monitoring tool kit at an affordable price point for Parkinson’s disease and other neurological diseases. The CE-marked system is suitable for home-use and can be administrated by non-experts.
The Company has already sold a number of systems to hospitals, including NHS Northumbria, having completed successful clinical trials with the NHS both in the northeast of England and Scotland, as well as international sales in the Netherlands. Manus also secured a development contract with NHS England through the SBRI process to develop a version that can be used in GP surgeries and other primary care clinics, which has been successfully delivered.
Dr Rutger Zietsma, Chief Executive Officer of Manus Neurodynamica, 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.”
Robert Higginson, Partner at Par Equity, said: “Par Equity first invested in Manus Neurodynamica in 2018 and we are delighted to continue supporting it as one of Scotland’s up and coming HealthTech start-ups. The Company has developed a platform that dramatically improves the overall efficiency of the Parkinson’s disease diagnosis pathway in both primary and secondary care. The technology also has potential applications in adjacent fields in Neurology. Manus is well placed to execute on this strategy and through our EIS Fund, our Private Investor Network, the British Business Investments and the Scottish Investment Bank we are able to draw on a breadth of firepower to support our portfolio.”
Kerry Sharp, Director, Scottish Investment Bank, 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.”
|Manus Neurodynamica Ltd Dr Rutger Zietsma, CEO||07870 100 160 firstname.lastname@example.org|
|Par Equity Robert Higginson, Partner||07770 268 920|
|Walbrook PR (PR advisors to Manus) Lianne Cawthorne / Anna Dunphy||020 7933 8780 or email@example.com 07584 391 303 / 07876 741 001|
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.
Its principal product is a sensory 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 and patented system 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.
About Par Equity – www.parequity.com
Par Equity is an award-winning venture capital firm, based in Edinburgh, investing in innovative technology companies with high growth potential.
Founded on the principle of equality, fund investors and professional business angels share the same terms and the same rewards across a broad range of opportunities. This investment strategy, fusing the best elements of angel investing with the professionalism and rigour of a traditional venture capital fund, is what Par describes as its Network Effect – a large and engaged investor network with a track record founding, growing and selling companies, who can add value throughout the investment life cycle.
The firm’s evergreen Par EIS fund is available to retail investors who want a hands off exposure to venture capital and EIS, providing them with a diversified portfolio of six to eight software and hardware technology companies, with the potential for significant capital gains.
Par Equity won a hat-trick of awards recognising the firm’s exit from online educator ICS Learn – ‘Best EIS Investment Exit’ at the EIS Association Awards 2019, ‘Exit of the Year’ at the Growth Investor Awards 2018 and ‘Best Exit of the Year’ at Investment Week’s Tax Efficiency Awards 2018. The firm was also a finalist for the Best EIS Investment Manager award at the 2019 Growth Investor Awards.
About the Scottish Investment Bank
The Scottish Investment Bank (SIB) is the investment arm of Scotland’s national economic development agency, Scottish Enterprise, operating Scotland-wide in partnership with Highlands and Islands Enterprise (HIE). SIB’s activities support Scotland’s SME funding market to ensure businesses with growth and export potential have adequate access to growth capital and loan funding. We help ambitious Scottish companies get the right levels of funding from the right sources at the right time through building relationships with both domestic and international investors.
SIB manages a suite of co-investment funds including the Scottish Co-investment Fund, the Scottish Venture Fund and the Energy Investment Fund on behalf of the Scottish Government. SIB is an investor in Epidarex Capital’s Life Sciences Fund. SIB also administer the Scottish Loan Scheme, with funding secured from the Scottish Government’s Scottish Growth Scheme.
SIB also provides funding into LendingCrowd, Scotland’s marketplace lender providing loans to SMEs, and Maven’s UK Regional Buy Out Fund (MBO) that offers financial support for management buyouts (MBOs) and helps existing management teams acquire their businesses from their owners so they can continue to flourish. SIB’s team of financial readiness specialists help companies to prepare for new investment and access appropriate finance.
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.