Irish neuroscience technology company Cumulus Neuroscience has secured £3.25 million in funding to advance its NeuLogiq platform, which aims to revolutionize clinical trials for neurological and psychiatric conditions through objective brain function measurement technology.
The funding round was led by a £1.5 million investment from Whiterock's Growth Capital Fund, with additional backing from Clarendon Fund Managers (£1.25 million), ACF Investors (£300,000), and Co Fund NI (£200,000).
Addressing Critical Gaps in Neuroscience Research
According to CEO Tina Sampath, the platform addresses a substantial unmet need in neuroscience clinical studies, where traditional assessment methods fall short of providing meaningful insights into brain activity.
"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," Sampath explained.
The NeuLogiq Platform was developed in collaboration with ten top biopharma companies specifically to overcome the limitations of traditional neurological assessments that rely heavily on pen-and-paper tests lacking objective brain function data.
FDA-Cleared Technology for Clinical and Home Use
The platform utilizes a novel dry-sensor EEG headset that received FDA 510(k) clearance in 2023, combined with tablet-based assessments to measure brain function across multiple domains including cognition, mood, and language. This technology enables clinicians and researchers to collect data both in clinical settings and while patients are at home.
The at-home capability represents a particular advantage for conditions such as Alzheimer's disease, where traditional clinical testing can be challenging due to the nature of the condition and patient mobility limitations.
Targeting Major Neurological Conditions
David McCurley, Investment Director at Whiterock, emphasized the platform's potential impact on major neurological and psychiatric conditions. "Cumulus's world-class technology holds immense potential to transform the understanding, monitoring, and treatment of neurological and psychiatric conditions," McCurley stated.
"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," he added.
Strategic Growth and Expansion Plans
The funding will support marketing initiatives and team expansion through key strategic hires, including a Head of B2B Marketing, Sales Operations lead, and a Vice President of Business Development. These additions are designed to accelerate the platform's adoption among biopharma partners and expand its clinical trial applications.
Founded in 2015, Cumulus Neuroscience has positioned itself as a developer of advanced tools to address major healthcare challenges in neurodegeneration and psychiatry. The company's integrated biomarker platform is designed to deliver faster, more accurate data for clinical trials, potentially helping partners accelerate the development of effective central nervous system drugs while improving trial efficiency and evaluation processes in neuroscience research.
