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Don’t invest unless you’re prepared to lose all your money invested. This is a high risk investment. You could lose all the money you invest and are unlikely to be protected if something goes wrong. Take 2 mins to learn more

o2h Ventures backed Neurofenix raises $7 Million to transform stroke and brain injury recovery
Sep 6 2022
  • Health tech startup Neurofenix was founded to improve rehabilitation for neurological patients
  • Over 75% of stroke, traumatic brain and spinal cord injury patients face long-term disabilities because of insufficient neurorehabilitation and a shortage of occupational therapists
  • Once patients are discharged, they’re even less likely to complete home therapy programmes due to a lack of engagement, monitoring or support  
  • Neurofenix’s patient-focused approach combines sensor-based technology and a telemedicine platform to personalise rehab and improve recovery and outcomes 
  • Neurofenix has raised $7 million in funding in this round led by AlbionVC to build out the product team and invest in US expansion 

London, UK: Neurofenix, the neurological rehabilitation platform that uses sensor technology to improve patient recovery outcomes, has raised $7 million in Series A funding. This funding was led by AlbionVC, with additional participation by HTH, InHealth Ventures, and existing investors.  This will enable Neurofenix to build out its product line and invest in US expansion, including funding US clinical trials. 

Founded in 2016 by Imperial graduates and Entrepreneur First alumni Guillem Singla Buxarrais (CEO) and Dimitrios Athanasiou (CTO), Neurofenix aims to revolutionise how neurological rehabilitation is delivered to drive better outcomes and recovery for patients. Currently, over 75% of neurologically injured patients, including stroke to traumatic brain injury and spinal cord injury survivors, face long-term disabilities and a lack of functionality because of insufficient neurorehabilitation. In-patients only receive a few hours of rehab a week, due to shortages of occupational therapists, whilst at-home therapy programmes are unengaging and patients have little support once they are discharged. This is not only demotivating and upsetting for patients, but the process is expensive too. In the UK more than 100,000 people have strokes a year, with care costing the NHS around £3 billion annually and the loss of productivity to the UK economy due to disability and informal care costing £4 billion. In the US, where around 795,000 people suffer from a stroke every year, rehab costs can reach over $17,000 a year per patient.

Neurofenix wants to overhaul this unsatisfactory approach to neuro-rehabilitation through its clinical-grade and personalised rehab programme. Through the combination of sensor-based technology and a telemedicine platform, Neurofenix wants to improve the standard of care for neurological injury survivors and enable them to regain functionality and mobility.

o2h Ventures had earlier invested in their seed round and the company undoubtedly has made quite progress since then. They have built a highly accomplished team to go forward and carved their way in US markets as well.  The investment was made from its flagship fund, the o2h Human Health Knowledge Intensive EIS with the purpose to support seed-stage knowledge-intensive companies covering novel drug discovery along with enabling services, tools and AI technologies. 

Guillem Singla Buxarrais, CEO and Co-Founder, Neurofenix, 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.” 

Sunil Shah, CEO of o2h Ventures, said: “The Chief Executive Officer, Guillem Singla Buxarrais has an incredible passion for developing the intelligent Neuroball in a plight to support patients who have been a victim of a stroke.  His commitment as an entrepreneur and devotion to the product has led him to move himself to the USA. This is highly commendable and we are very happy to support Neurofenix through this investment round.”

About Neurofenix

Founded in the UK in 2016, Neurofenix is a multidisciplinary team of highly qualified and motivated professionals who want to make a difference in the lives of neurological injury survivors and their families. Neurofenix’s patient-focused approach combines sensor-based technology through its patent-pending NeuroBall™ and a telemedicine platform to personalise rehab and improve patient recovery and outcomes. Neurofenix has raised $7m+ in funding from investors including AlbionVC, HTH, InHealth Ventures and other minority investors.

To know more: please visit www.neurofenix.com

About o2h Ventures

The o2h Ventures ‘Human Health’ SEIS and EIS funds make tax-efficient investments in Pre-Seed and Seed stage companies that address human disease: we fund the development of novel therapeutic treatments; we help build new services and tools offerings throughout the biotech ecosystem, and we spur the creation of software & artificial intelligence that will change healthcare.

The o2h team are leaders in the biotech community and have been actively involved as investors, holding various board/industry positions as well as being engaged in grassroots scientific activity for over 20 years. o2h Ventures operates from their proprietary 2.7 acre Mill SciTech Park where they are developing a unique model for incubating small life science companies.

For more information or to invest in the fund, please visit www.o2hventures.com

Media Contact:

Juhi Shah

Marketing Manager

juhi.shah@o2h.com

 

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o2h ventures Limited is regulated and authorised by the Financial Conduct Authority (FRN 812245). Capital at risk, only suitable for high net worth and sophisticated investors

Risk Information

Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk

What are the key risks?

1 – You could lose all the money you invest

• If the business you invest in fails, you are likely to lose 100% of the money you invest. Most start-up businesses fail.

2 – You are unlikely to be protected if something goes wrong

• Protection from the Financial Services Compensation Scheme (FSCS), in relation to claims against failed regulated firms, does not cover poor investment performance. Try the FSCS investment protection checker here. (https://www.fscs.org.uk/check/investment-protection-checker)

• Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA-regulated firm, FOS may be able to consider it. Learn more about FOS protection here. (https://www.financial-ombudsman.org.uk/consumers)

3 – You won’t get your money back quickly

• Even if the business you invest in is successful, it may take several years to get your money back. You are unlikely to be able to sell your investment early.

• The most likely way to get your money back is if the business is bought by another business or lists its shares on an exchange such as the London Stock Exchange. These events are not common.

• If you are investing in a start-up business, you should not expect to get your money back through dividends. Start-up businesses rarely pay these.

4 – Don’t put all your eggs in one basket

• Putting all your money into a single business or type of investment for example, is risky. Spreading your money across different investments makes you less dependent on any one to do well.

• A good rule of thumb is not to invest more than 10% of your money in high-risk investments (https://www.fca.org.uk/investsmart/5-questions-ask-you-invest)

5 – The value of your investment can be reduced

• The percentage of the business that you own will decrease if the business issues more shares. This could mean that the value of your investment reduces, depending on how much the business grows. Most start-up businesses issue multiple rounds of shares.

• These new shares could have addition rights that your shares don’t have, such as the right to receive a fixed dividend, which could further reduce your chances of getting a return on your investment.

If you are interested in learning more about how to protect yourself, visit the FCA’s website here (https://www.fca.org.uk/investsmart)