Irish startup Cumulus Neuroscience has raised £3.25 million for its NeuLogic platform. The startup is focused on advancing neuroscience clinical trials and patient care through improved data and AI.
The NeuLogiq Platform was purpose-built in collaboration with ten top biopharma companies to address the limitations of traditional neurological assessments by providing objective data across multiple domains of brain function.
According to Tina Sampath, Chief Executive of Cumulus Neuroscience, there is a substantial unmet need today in neuroscience clinical studies. Many study endpoints are measured with traditional pen and paper assessments, which lack objective data about brain function.
"Biopharma companies need objective data to effectively establish baseline information about whether a drug is engaging with the region of the brain that it is targeting, whether a drug is effective, and to inform which cohort of patients may benefit the most from a particular drug.
The NeuLogiq Platform offers biopharma partners and collaborators a suite of state-of-the-art tools to advance the discovery and development of new therapies for neuropsychiatric and neurodegenerative conditions."
The platform utilises a novel dry sensor EEG headset, which received FDA 510(k) clearance in 2023, and tablet-based assessments to measure brain function across multiple domains, including cognition, mood, and language.
The headset allows clinicians and researchers to collect data easily in the clinic or while patients are at home — a particular boon for disorders such as Alzheimer's, where clinical testing can be difficult.
A £1.5 million investment from Whiterock's Growth Capital Fund led the funding, alongside £1.25 million from the Investment Fund for Northern Ireland's equity fund, run by Clarendon Fund Managers, £300,000 from ACF Investors and £200,000 from Co Fund NI.
David McCurley, Investment Director at Whiterock, said: Cumulus with an equity investment from Whiterock's Growth Capital Fund.
"Cumulus's world-class technology holds immense potential to transform the understanding, monitoring, and treatment of neurological and psychiatric conditions.
In particular, Cumulus' work promises to revolutionise the diagnosis and treatment of diseases such as Alzheimer's, Parkinson's, and depression - conditions of growing global significance as the population ages."
The funding will be used to invest in marketing and further scale the hiring of key personnel, including a Head of B2B Marketing and Sales Operations and a Vice President of Business Development.
Lead image: Cumulus Neuroscience. Photo: uncredited.
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