fbpx
Connect with us
  • Elysium

Stroke news

Funding the future: Stroke rehab tech developers receive £2.2 million in funding

Published

on

Pioneering stroke rehabilitation tech developers Bioliberty have secured £2.2 million in funding in order to further develop its robotic glove which helps to restore upper limb mobility.

The lifeglov, supports rehabilitation for both the closing and opening strength of the hand, it also fills a unique gap in the market as it monitors key metrics related to upper limb mobility.

The glove can also demonstrate improvement as the patient progresses through their rehab through a Digital Therapy Platform, which provides the patient with tailored exercise which helps the patient to develop natural hand strength.

With Bioliberty aiming for a launch in the US in 2024, this technology will add extra options around remote rehab for stroke patients, whilst also supporting therapists in widening options around digital rehab tools.

The tech developers based in Edinburgh have raised £2.2 million through a funding round led by Archangels, the world’s longest running business angel investment syndicate, with participation from Eos Advisory, Old College Capital and Hanna Capital SEZC.

This new funding will allow Bioliberty to complete development of the trial product and finalise the development of its platform.

Bioliberty also hope that this funding will help to fund the business through obtaining FDA approval and early engagement in the US with rehabilitation clinics.

The initial application for Lifeglov is in the upper limb rehabilitation market, but it is anticipated that the technology will have a broad range of clinical applications including lower limb.

Bioliberty was co-founded in 2020 by Rowan Armstrong, Conan Bradley, Ross O’Hanlon and Shea Quinn.

Rowan Armstrong, CEO at Bioliberty, says: “Our aim at Bioliberty is to empower every human to live a longer independent life by providing assistive robotics and rehabilitative technologies. 

“The Lifeglov is a first step on this journey and the funding announced today will allow us to complete its development, along with our software platform, while preparing the runway for our US sales push. 

“We’re confident in our technology and excited by the benefits it can deliver for both patients and occupational therapists.”

Niki McKenzie, joint managing director at Archangels, says: “Bioliberty has developed a highly effective solution for helping patients with hand weakness, with the potential to improve the quality of life for millions worldwide. 

“We believe its technology has far-reaching benefits beyond this first application, providing the business with an excellent opportunity to grow quickly from its base here in Scotland. 

“Archangels is excited to be supporting the team as they finalise what we hope will be the first of many products and start scaling up their sales activity.”

HIWIN

Trending