Bioliberty has secured £2.2m in funding to develop its soft robotic glove which aims to restore upper limb mobility in patients following a stroke.
The funding round was led by Archangels, with participation from Eos Advisory, Old College Capital and Hanna Capital SEZC.
The Edinburgh-based business has created the Lifeglov – a soft robotic glove which offers rehabilitation for both the closing and opening strength of the hand. It monitors key metrics related to upper limb mobility and can show improvement as the patient progresses through rehabilitation.
The Lifeglov is accompanied by a digital therapy platform which provides the patient with tailored exercises to help develop natural hand strength. For stroke survivors, the glove helps carry out rehabilitation from the home, while for occupational therapists, the glove is a tool to help manage their patients remotely.
The new money should allow Bioliberty to complete development of the trial product and finalise the development of its platform. It is also anticipated to fund the business through obtaining Food and Drug Administration approval and early commercial engagement in the US with rehabilitation clinics.
The initial application is in the upper limb rehabilitation market, but it is anticipated that the technology will have a broad range of clinical applications, including lower limb.
The business was co-founded in 2020 by chief executive Rowan Armstrong, chief of design Conan Bradley, chief technology officer Ross O’Hanlon and chief operating officer Shea Quinn. It currently employs a team of seven.
Armstrong said: “The funding announced today will allow us to complete its development, along with our software platform, while preparing the runway for our US sales push.
“We’re confident in our technology and excited by the benefits it can deliver for both patients and occupational therapists.”
Niki McKenzie, joint managing director at Archangels, added: “Bioliberty has developed a highly effective solution for helping patients with hand weakness, with the potential to improve the quality of life for millions worldwide.
“We believe its technology has far-reaching benefits beyond this first application, providing the business with an excellent opportunity to grow quickly from its base here in Scotland.”
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