Belfast’s Cumulus Neuroscience closes £3m round – UKTN

Cumulus Neuroscience, a health tech company based out of Belfast, has secured a £3.25m investment to advance the commercialisation of its brain assessment technology.

The company works with biopharma partners to provide a suite of tools to support the development of neurological treatments.

Its flagship product is its EEG headset (pictured), used to scan and analyse brain functions, assessing functions such as cognition, mood and language. Cumulus said its headset means clinicians and researchers can collect brain data quickly, including when patients are at home.

“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,” said Cumulus Neuroscience chief executive Tina Sampath.

“Biopharma companies need objective data to effectively establish baseline information about whether a drug is engaging with the region of the brain that a particular drug is targeting, whether a drug is effective, and informing which cohort of patients may benefit the most from a particular drug.”

The new funding will support the hiring of sales and marketing staff as it looks to scale the commercialisation end of the team.

The firm currently has 31 people on staff across Belfast and its secondary location in Dublin.

The funding round was led by Whiterock and included backing from the Investment Fund for Northern Ireland, managed by Clarendon, ACF Investors and Co-Fund NI.

“We are excited to have led this investment round to help fuel the next phase of growth for Cumulus with an equity investment from Whiterock’s Growth Capital Fund,” said Whiterock investment director David McCurley.

“We look forward to partnering with Tina and the executive team as they deploy their groundbreaking technology and data analytics tools into projects alongside some of the world’s leading pharma and biotech companies”.

Already have an account? Log in