Bristol-based company Neuronostics has triumphed at the 2024 Epilepsy Foundation Shark Tank Competition in Atlanta, securing a $125,000 prize to further develop its innovative BioEP™ technology.
BioEP is a groundbreaking Software-as-a-Medical-Device that analyses EEG data to support more accurate epilepsy diagnoses. In over 70% of cases, EEG tests are inconclusive, leading to delays and uncertainty for patients. BioEP addresses this by using mathematical modelling to extract valuable insights from what is often considered uninformative data, offering clinicians a tool to enhance decision-making and improve patient outcomes.
The Shark Tank competition, inspired by the US equivalent of Dragon’s Den, draws entrepreneurs and innovators from around the world who are tackling epilepsy-related challenges. Neuronostics competed against finalists from Portugal, France, and the US, emerging from a pool of nearly 50 applicants. During the event, Neuronostics' pitch won over two of the five Sharks, securing $50,000, with the remaining $75,000 awarded by audience vote.
John Terry, Co-Founder and Managing Director of Neuronostics, led the pitch for BioEP. "We are thrilled to have received this recognition from the Epilepsy Foundation. This win validates our work and highlights BioEP's potential to benefit the 500,000 Americans who are suspected of having epilepsy each year," he said. Terry added that the company is preparing to introduce BioEP to the NHS in 2025, following its MHRA regulation, with plans to secure FDA approval and launch the product in the US by 2026.
Neuronostics will use the prize money to fast-track BioEP's development, with an eye on bringing its transformative technology to the US market in the coming years. For more information on Neuronostics and its innovative work, visit www.neuronostics.com.
