The funding, led by Manus CEO Dr Rutger Zietsma, and allows the company to look to release its NeuroMotor Pen later this year with an initial focus on the UK and Benelux markets, while also progressing work to secure regulatory approval to start selling in US.
Investors in the funding round for the pen’s launch included the North East Innovation Fund, supported by the European Regional Development Fund and managed by Northstar Ventures, SIS Ventures, and Old College Capital, the University of Edinburgh’s venture fund.
Edinburgh-based Manus has spent over 10 years developing the product, from concept through to manufacture and roll-out, and all funding rounds to date total £5 million, including a £750,000 financing round, closed in May last year.
Manus’s NeuroMotor Pen aids doctors in detecting early warning signs of Parkinson’s and other neurological conditions, by using sensors linked with analytical software to analyse limb and hand movements.
Around 145,000 people live with Parkinson’s in the UK, and the condition is the fastest-growing neurological disorder in the world.
While looking to provide non-invasive diagnosis for patients, the CE-marked device also helps with the ongoing monitoring of those conditions.
Ahead of the pen’s launch, Manus is currently in advanced talks with a UK-based primary care group, following a development contract with NHS England to develop a version that can be used in GP surgeries.
The device has passed clinical trials with the NHS in the north-east of England and Scotland and is currently being used by Northumbria NHS Foundation Trust.
Additionally, the firm signed a five-year contract with stationery brand Stabilo to manufacture the pens in Germany back in January 2020.
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“2021 looks set to be an extremely busy year for Manus,” said Dr Rutger Zietsma, CEO of Manus Neurodynamica. “Having spent more than 10 years developing, trialling and refining our first product, we can finally look forward to seeing our NeuroMotor Pens implemented more broadly and making a real difference to the lives of people living with Parkinson’s and other neurological conditions.
“Through faster and simpler diagnoses and objective patient monitoring with digital record keeping, we can help streamline the pathway and deliver more successful treatment outcomes for the fastest growing neurological condition in the world.”
Rob Halliday, fund manager at SIS Ventures, commented: “Manus is one of Scotland’s most promising early stage medtech companies, with the potential to make a huge impact.
“With its disruptive technology, mission-led approach, and ambitious management team, Manus is exactly the kind of business we look to invest in at SIS Ventures.
“Working along with the other investors, we’re very pleased to support Rutger and his team through their next phase of growth and impact creation.”