- 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.”
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