Incereb Secures €700k Seed Funding Round (31st July 2013)

  • Investment round led by ACT Venture Capital, Delta Partners, the Boole Group and Enterprise Ireland

Dublin based medical device start-up, Incereb Limited, today announced the completion of a €700,000 seed round of funding. The round was led by Irish investors ACT Venture Capital Limited, Delta Partners, supported by the Boole Group and Enterprise Ireland (the Irish government organisation responsible for the development and growth of Irish enterprises in world markets).

The funding will be used by the Company to fully develop the business, bringing the neonatal EEG electrode array from prototype to fully fledged and certified medical device.

Incereb has developed disposable EEG testing (electroencephalogram used to detect abnormalities related to electrical activity of the brain) and Cerebral Function Monitoring (CFM) products for term and preterm infants (neonates) with seizures, in the neonatal intensive care unit (NICU). These products, developed for the neonatologist or neonatal nurse, will significantly speed up the time taken to set up the infant for testing and are designed to interface with all brands of EEG and CFM recording equipment.

Commenting on this funding, James Roche, founder and CEO, said “we are delighted to be in a position to fully build our team. We plan to have our first product on the market in Q4 2015 simplifying the process of monitoring neonatal brain activity”.

About Incereb

Incereb, an Enterprise Ireland High Potential Startup (HPSU) company, was founded in 2012 to develop a simpler method of recording neonatal EEG, a traditionally time consuming and complex procedure which in many cases involved the insertion of subdermal needles into the newborn’s scalp.

Jim Roche, founder and CEO, worked with EEG applications at hospitals in London, Glasgow and Dublin and was aware of the difficulties with neonatal EEG electrodes and set out to develop an elegant non-invasive solution to this problem.