Neuronostics Raises £3M for Epilepsy Diagnostic Tech

Bristol-based medtech firm Neuronostics has successfully closed a £3 million funding round, injecting crucial capital to accelerate the development and deployment of its innovative BioEP platform. This digital biomarker technology is designed to revolutionize the diagnosis and prognosis of epilepsy, a neurological disorder affecting an estimated 50 million people globally. The company aims to address significant challenges within current diagnostic pathways, where patients can face diagnostic delays exceeding a year and misdiagnosis rates that climb above 30%.

The BioEP platform leverages computational analysis of electroencephalogram (EEG) data, a standard method for measuring brain electrical activity. Unlike traditional interpretations, BioEP employs eight distinct computational biomarkers, grounded in peer-reviewed neuroscience research. This sophisticated approach provides objective clinical decision support, particularly when conventional EEG results are ambiguous. The platform's ability to offer clearer insights is vital in a field where treatment effectiveness can vary significantly, with approximately half of patients not achieving seizure freedom within the first year of therapy.

This substantial investment, co-led by Empirical Ventures and The FSE Group, will fuel three key strategic initiatives. A significant portion will be dedicated to navigating US regulatory pathways and securing reimbursement, with an FDA submission targeted for 2026. Concurrently, Neuronostics plans to expand the adoption of BioEP within the UK's National Health Service (NHS). Furthermore, the funding will support the platform's evolution to identify and quantify treatment response in pharmaceutical clinical trials, offering a powerful tool for drug development in epilepsy.

The funding round saw robust participation from a syndicate of experienced investors. Beyond the lead investors, the round included contributions from the British Business Bank’s South West Investment Fund, Ascension Ventures, QantX, New Wave Venture Partners, and Angel Investors Bristol. This diverse investor base underscores the market's confidence in Neuronostics' technology and its potential to disrupt the epilepsy diagnostics market, a sector ripe for innovation given the persistent unmet needs.

Adding further momentum to the equity raise, Neuronostics also secured a £400,000 Innovate UK Investor Partnerships grant. This blended financing approach highlights the strong validation of the company's scientific foundation and commercial strategy. The global epilepsy market is projected to grow, driven by increasing awareness, advancements in diagnostic tools, and a rising prevalence of the condition, creating a favorable environment for solutions like BioEP.

“We possess a solid scientific bedrock and compelling clinical validation for BioEP,” stated John Terry, co-founder and managing director of Neuronostics. “The caliber of our investor syndicate directly reflects the significant commercial potential stemming from this robust foundation. The regulatory pathway is well-defined, strategic partnerships are established, and NHS adoption is steadily increasing. Our mission is driven by the urgent need to reduce the prolonged waiting times patients endure for accurate epilepsy diagnoses.”