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Cambridge Cognition Holdings plc has successfully raised £2.5 million in a fundraising round with the end goal of accelerating expansion and improving the company’s balance sheets.

The company, which designs and develops neuroscience technological equipment to assess brain activity and health, earned the investment through a share subscription and an oversubscribed placing.

A significant proportion of the funds will go towards replicating US ‘prime’ and digital health services in the EU and East, whilst a further £600,000 will assist with the expansion of the software group for electronic clinical outcome assessments (eCOA) and opportunities in digital healthcare.

Any remaining money will be put towards boosting the management team and increasing the number of digital intervention research projects.

Chief executive of Cambridge Cognition, Dr Steven Powell, said: “The new funding will enable us to accelerate our growth as we expand both eCOA and digital health.

“The funding will also allow us to strengthen the balance sheet for discussions with corporate partners and expand the management team with the addition of Matthew Stork as COO. We are grateful for the support of our existing shareholders and welcome the investment of our new investors.”

Dr Stork will bring a broad range of expertise and experience to the table, including in healthcare IT, clinical service delivery, capital devices, diagnostic imaging and pharmaceuticals.

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