Cochlear backs Epiminder capital raising

Medical device innovator Epiminder has raised $18 million in bridging funding to support the development of its lead product Minder, which aims to revolutionise the lives of millions of people suffering from epilepsy and seizures.

The raising was supported by existing shareholders Cochlear, the Bionics Institute, the University of Melbourne, Seer Medical and private investors.

In October, 2021 the company completed an oversubscribed Series A funding round, raising $18 million.

The company’s Minder is an ultra-long-term ambulatory electroencephalography (EEG) monitoring device.

A sub-scalp implanted electrode senses and records neural events, while an implant captures EEG from the electrode and transmits these signals to the wearable processor.

The smartphone-enabled device promises to improve on ‘wearables’ and other tools such as patient diaries used to monitor seizures.

The new funds will support ongoing clinical trials for Minder.

An initial trial conducted at St Vincent’s Hospital in Melbourne produced ‘promising results’ according to Epiminder.

Picture: Epiminder

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