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Neuromersiv, a MedTech startup developing a VR solution for neurorehabilitation just received $1 million in grant funding

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Neuromersiv just received a million dollars in grant funding for VR neurorehabilitation

Sydney based Medtech startup Neuromersiv, developing a virtual reality (VR) solution for neurorehabilitation has received $1 million in grant funding from the Biomedtech Horizons Fund (BMTH).

Delivered by MTPConnect, the Australian Government’s $45 million BMTH program is an initiative to support innovative collaborative health technologies, drive discoveries towards proof-of-concept and commercialisation that address key health challenges as well as maximise entrepreneurship and idea potential.

Combining VR and proprietary hand and arm wearable technology, Neuromersiv provides a novel and data-driven approach to rehabilitation therapy.

This approach has the potential to achieve a far greater level of engagement over conventional therapies to significantly improve compliance and outcomes for brain injury survivors at a lower cost.

What has the company performed so far?

Anshul Dayal, Oliver Morton-Evans and Rohan O’Reilly who co-founded Neuromersiv in late 2017 have already taken the company through several prestigious accelerator programs including Muru-D, Cicada Medlab and Medtech Actuator.

Left to right: Rohan O’Reilly, Oliver Morton-Evans and Anshul Dayal.

The company has previously been funded by venture capital firm, Artesian and also recently received additional grant funding from Ausindustry’s Accelerating Commercialisation program to develop prototypes of the unique VR-enabled wearable technology.

In the short period since inception, the company has established commercial partnerships with Neuromoves who operate 11 rehabilitation centres across Australia.

They have aslo partnered with several leading hospitals in India, Taiwan and key research partnerships with the University of Newcastle and Hunter Medical Research Institute (HMRI).

Neuromersiv’s industry advisors include Professor Michael Nilsson, who is the Director of the Centre for Rehab Innovations (CRI) and Global Innovation Chair of Rehabilitation Medicine at the University of Newcastle (UON).

They also include Jodie Marquez, a senior researcher at UON and physiotherapist with over 20 years of experience in neurological rehabilitation.

What are the goals for this solution?

“We plan to position ourselves as a world-leading, clinically validated VR based rehabilitation therapy solution”, Neuromersiv’s CEO, Anshul Dayal said.

The solution will be trialled in NSW public hospitals to gather independent clinical evidence on its efficacy in improving rehabilitation outcomes post a brain injury.

The trial will build upon the existing body of work instigated by O’Reilly who serves as Head Of Product and has been involved in the rehabilitation industry for a number of years.

“We have a clear vision for the product and what it can do to improve rehabilitation therapy outcomes for millions of people across the globe, the latest funding support from BMTH is a big leap forward in bringing this vision to reality,” Dayal added.

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