Bristol based Neuronostics raises £3m led by Empirical Ventures and The FSE Group
This article covers Neuronostics, a Bristol-based biotech startup that has raised £3m in a seed funding round co-led by Empirical Ventures and The FSE Group to accelerate clinical rollout of BioEP, its EEG-based digital biomarker platform for suspected epilepsy. The development aims to support faster, more objective diagnosis and prognosis for people with suspected epilepsy, enable broader NHS adoption and US regulatory work, and prepare the platform for use in pharmaceutical trials.
Neuronostics, a Bristol-based biotech startup, has raised £3 million in a seed funding round co‑led by Empirical Ventures and The FSE Group to accelerate clinical rollout of BioEP, its EEG‑based digital biomarker platform for suspected epilepsy. The raise — supported by the British Business Bank’s South West Investment Fund, Ascension Ventures, QantX, New Wave Venture Partners and Angel Investors Bristol, and bolstered by a £400,000 Innovate UK Investor Partnerships grant — will fund US regulatory work, broader NHS adoption and development of the platform for use in pharmaceutical trials.
Why it matters
Long waits and diagnostic uncertainty are persistent problems in epilepsy care. People with suspected epilepsy can wait more than a year for a diagnosis, misdiagnosis rates can exceed 30%, and routine EEGs are inconclusive in over 70% of cases. That leaves clinicians without objective guidance and many patients facing prolonged uncertainty and suboptimal treatment.
A validated, fast tool that extracts objective signals from routine EEGs could shorten diagnostic pathways and help target treatment earlier. Neuronostics says BioEP has been validated across 15 NHS sites and more than 1,000 recordings, and is UKCA‑marked and ISO‑13485 certified — acceptance markers that matter when moving from pilot to widespread clinical use.
Inside the product
BioEP analyses standard EEG recordings using eight predefined computational biomarkers to produce a combined indicator of the likelihood that symptoms are caused by epilepsy. Neuronostics says the platform can generate a report in under five minutes from a routine EEG, with the first clinical use case focused on diagnosis and prognosis in suspected epilepsy.
Beyond diagnosis, the company plans to develop the platform to produce brain fingerprints of treatment response for use in pharmaceutical trials. It has also formed a strategic partnership with Stratus, the largest provider of EEG services in the United States, positioning BioEP for scalable US deployment pending regulatory clearance. The business is targeting an FDA submission in 2026 as part of its US regulatory and reimbursement work.
Who are the investors?
The seed round was co‑led by Empirical Ventures and The FSE Group. Other participants listed by the company include the British Business Bank’s South West Investment Fund (via a regional fund manager), Ascension Ventures, QantX, New Wave Venture Partners and Angel Investors Bristol. The raise is further supported by a £400,000 Innovate UK Investor Partnerships grant, which supplements private investment with public backing for commercialisation.
In the announcement, Ralph Singleton, Investor at The FSE Group, said:
As a fund manager for the British Business Bank's South West Investment Fund, we are proud to support pioneering MedTech companies based in this dynamic region. Neuronostics has outstanding scientific credentials and this investment will enable the drive towards global adoption of their technology.
In the announcement, Johnathan Matlock, Partner at Empirical Ventures, said:
Neurology has lacked objective tools for too long. BioEP addresses a genuine clinical need. This investment will help the team pursue FDA clearance and build a sustainable commercial presence in two of the world's most important healthcare markets. The investor syndicate reflects the strength of both the science and the commercial opportunity.
If you're researching potential backers in this space:
- Explore our list of biotech venture capital firms in the UK
- Browse our directory of biotech angel investors in the UK
Founder perspective
In the announcement, John Terry, Co‑founder & Managing Director, said:
We have the scientific foundation and clinical evidence for BioEP. The quality of the investor syndicate reflects the strength of the commercial opportunity that builds from this. The regulatory path is clear, the partnerships are in place, and NHS adoption is building. Patients should not have to wait so long for answers. This is the reason our work matters.
Neuronostics frames the funding as a bridge from clinical validation to commercial scale, with NHS service evaluations already underway at trusts including The Royal Wolverhampton NHS Trust and University Hospitals Dorset.
In the announcement, Charlie Alvarez, CEO of Stratus, said:
Stratus encounters the diagnostic gap that BioEP is designed to address every day. Our integration is in place. The planned FDA submission is a meaningful milestone, and we look forward to bringing BioEP to patients and clinicians across the US.
The bigger picture
Neuronostics’ raise sits at the intersection of several trends: growing interest in digital biomarkers, stronger public‑private backing for UK medtech commercialisation, and a pragmatic focus on US regulatory entry as the route to scale. The company’s NHS validation and certification credentials reduce some of the typical commercial friction for diagnostic tools, but widespread adoption will still require change in clinical workflows and payer acceptance.
This deal reflects continuing appetite from biotech investors for diagnostic and data‑driven tools that can demonstrably improve clinical decision making. For UK startups in medtech and diagnostics, the combination of regional public funds, Innovate UK support and strategic international partnerships is becoming a common pattern for moving from validation to market — both at home and in the United States.
They've invested in Neuronostics
Get to know these biotech investors
| Investors | Investment Focus | Startup Investments | Round Size | Connect |
|---|---|---|---|---|
 Empirical Ventures( ) Empirical is a specialist VC and venture builder based in Europe, focusing on ea... Bristol  | ||||
 The FSE Group( ) FSE Group focuses on supporting high growth businesses through business loans an... London | ||||
 British Business Bank's South West Investment Fund( ) | ||||
 Ascension Ventures( ) Ascension is a leading UK venture capital firm focused on empowering tech innova... London | ||||
 QantX( ) | ||||
 New Wave Venture Partners( ) | ||||
 Innovate UK Investor Partnerships( ) | ||||
| All investors | All investor sectors | All funded startups | All funding rounds |
Click here for a full list of 7,589+ startup investors in the UK