PD Neurotechnology secures investment from Crimson International Investment

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PD Neurotechnology has secured a strategic investment from Crimson International Investment (CII), the investment arm of Al Jazira Group specializing in rapid and disruptive technologies. Abu Dhabi-based CII will become the exclusive distributor of PD-Monitor in the Gulf countries.

PD Neurotechnology has developed PD-Monitor, a wearable device that tracks the full range of Parkinson’s motor symptoms on an ongoing basis, along with information about medication and food intake. It allows doctors to personalize treatment plans based on objective data that shows the status of patients in their daily lives.

In January 2023, PD-Monitor was one of five devices to be conditionally recommended for remote Parkinson’s disease monitoring to inform treatment by NICE, the National Institute for Health and Care Excellence. This decision has opened the door for PDMonitor to be used by NHS patients and their doctors in the UK.

CII’s investment is part of a $2.7 million working capital injection, which includes additional funding from existing investors Onassis Foundation and Big Pi Ventures and new investor PDNTECH Investors SRL, a special fund managed by the crowdfunding Seedblink, to support PD Neurotechnology’s international growth plans. The funding is part of PD Neurotechnology’s Series A round, which it expects to close this year.

Nikos Moschos, co-founder and commercial director of PD Neurotechnology, said: “We are delighted to secure additional funding as well as another strategic investor and partner to bring our pioneering Parkinson’s monitoring device into new markets. The positive evaluation and NICE recommendation, supporting The NHS’s use of PDMonitor has been a great support for our business and technology.”

To date, more than 1,000 Parkinson’s patients have used PDMonitor to monitor their symptoms to inform treatment, in sales or clinical trials, in the UK, US, Canada, France, Austria, Germany, Italy, Spain, Sweden , Switzerland, Ireland, Greece, Turkey, Cyprus and Israel.

Preliminary feedback from patients monitored for up to two years with PDMonitor indicates that many feel their condition stabilized (43%) or improved (35%) after using it. Clinical trials have demonstrated very high levels of reliability and specificity, and symptom detection accuracy of up to 93%.

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