BrainWaveBank secures £1.1m in Series A funding from Par Equity and other backers to expand clinical trial operations.
Par Equity led the Series A round to support technology development and commercial expansion.
BrainWaveBank builds a neurocognitive platform that uses wearable headsets and mobile games to monitor central nervous system disorders at home. The firm works with pharmaceutical and biotech partners to evaluate neurological treatments.
BrainWaveBank has secured £1.1m in a Series A financing round led by Par Equity. Additional backing came from Techstart Ventures, Co-Fund II, Angel CoFund, and British Business Investments.
The capital will support technology development, commercial scaling, and expansion into the global clinical trials market. The firm previously received support from Invest Northern Ireland and Innovate UK.
BrainWaveBank provides remote monitoring tools for conditions such as Alzheimer's and depression, aiming to streamline clinical trials through unsupervised in-home testing.
From the founder
"We are delighted to continue working with Par Equity who have been very supportive of our company and our vision. This investment will enable us to continue to develop and commercialise our cutting-edge technology that addresses a major unmet need in the development of novel therapies that can significantly reduce costs of care and improve patient outcomes for millions of people worldwide."
Ronan Cunningham
CEO at BrainWaveBank
Investor perspective
"We are excited to lead this latest round of investment into BrainWaveBank. We have every confidence that their ground-breaking platform will be core to the future development of drugs for dementia and other neurological brain disorders by enabling clinical trials that can largely be conducted in patients’ homes. This is an enormous opportunity. HealthTech is a sector of growing importance to Par in which BrainWaveBank is our seventh investment and our third in Northern Ireland which was also home to PathXL for which we achieved a lucrative exit to Philips. They have an excellent, highly experienced team and their founders – CEO Ronan Cunningham and CTO Brian Murphy – are valued mentors for our thriving and diverse community of future HealthTech champions."
Robert Higginson
Partner, Par Equity
Use of funds
- 01Continue product development
- 02Expand into international markets
- 03Invest in sales and marketing
Investors
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About the company
BrainWaveBank
BrainWaveBank develops a digital platform for remote monitoring of neurological and psychiatric conditions.