Belfast digital health technology firm raises £3.25m to advance brain disorder work
Cumulus Neuroscience closes significant investment round led by Whiterock
Pictured at Cumulus Neuroscience’s offices in Belfast are (from left) Brian Cummings from Clarendon Fund Managers, Siggi Saevarsson (chief operating officer), Tina Sampath (chief executive) and Brian Murphy (chief scientific officer and co-founder) from Cumulus, and Graham Ferguson from Whiterock and Iona Star
Belfast-based digital health technology company Cumulus Neuroscience has successfully closed a £3.25 million equity funding round that will be used to scale up its commercial operations.
The funding round was led by a £1.5m investment from Whiterock’s Growth Capital Fund, alongside £1.25m from the Investment Fund for Northern Ireland’s equity fund, run by Clarendon Fund Managers, another £300,000 from Angel CoFund and £200,000 from Co Fund NI.
Cumulus is headquartered in Belfast at Catalyst in the Titanic Quarter, where the majority of its 31 employees are based, with a second location in Dublin. Around a third of employees are remote.
It generates the data and insights required to accelerate the diagnosis and management of central nervous system (CNS) disorders for millions of patients and caregivers around the world.
Cumulus is currently focused on advancing neuroscience clinical trials and patient care through improved data and AI with the NeuLogiq platform, providing biopharma partners and collaborators with a suite of state-of-the-art tools to help advance the discovery and development of new therapies for neuropsychiatric and neuro-degenerative conditions.
The platform uses a novel dry sensor EEG headset which received FDA 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 clinic or while patients are at home – a particular boon for disorders such as Alzheimer’s, where clinical testing can be difficult.
Cumulus says the funding raised in the latest round will be used to invest in marketing and further scale the commercialisation team including the hiring of key personnel including a head of B2B marketing and sales operations and a vice president of business development.
Its chief executive Tina Sampath said: “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.
A Cumulus Neuroscience headset being trialled
“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 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.
“Cumulus is well positioned to capitalise on the significant opportunities that exist in the neuroscience clinical research space.”