Medical device developer Epi-Minder has successfully completed an $18 million Series A funding round.
The company is commercialising its implanted Minder electroencephalography (EEG) monitoring device for those suffering from epilepsy.
Existing shareholders Cochlear, the Bionics Institute, Melbourne’s St Vincent’s Hospital and the University of Melbourne took part in the capital raising.
Bionics Institute researchers and neurologist Professor Mark Cook developed the small implantable device which is able to monitor seizures outside the clinic, allowing patients to go about their daily lives.
In Australia, about 250,000 people are living with epilepsy and about 30 percent of them still experience uncontrollable seizures.
Knowing when a seizure may occur would be a life-changer for epilepsy sufferers.
The funds will be used for clinical trials for Minder in Australia and the United States.
Six devices have already been implanted in patients involved in trials in Melbourne.
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