EpiMinder has received a $16 million bridge funding round from Cochlear
- ByStartupStory | March 15, 2022
Epiminder, an Australian medical device innovation, has raised $16 million to expand its ongoing clinical study to sites in VIC, QLD, and NSW, to improve the lives of millions of individuals who suffer from epilepsy and seizures.
Epiminder’s implantable device monitors the brain’s electrical activity to detect epileptic seizures, paving the way for their eventual prediction. Founded in 2018 by University of Melbourne researchers Professor Mark Cook, whose father had epilepsy, and Associate Professor Chris Williams, Epiminder’s implantable device monitors the brain’s electrical activity to detect epileptic seizures, paving the way for their eventual prediction.
The oversubscribed bridge financing round included current shareholders Cochlear (ASX: COH), the Bionics Institute, the University of Melbourne, and Seer Medical, as well as private investors.
The new funding will be utilized to expand Minder’s ongoing UMPIRE clinical trial as well as expand product research, manufacturing, and corporate activities.
Epilepsy, the most prevalent brain illness that can afflict people of any age, affects more than 250,000 Australians. 30% to 40% of these people have refractory epilepsy, which means they can’t control their seizures with medication.
Long-term monitoring of patients outside of a controlled clinical environment, such as establishing the efficacy of medication therapy, is likely to lead to more effective treatment of underlying problems. Later generations of the gadget could incorporate enhanced detection and warning of impending seizure occurrences, depending on clinical results.
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