Funding profile · Neurotechnology
BIOS Health
Eleven years old, no SEC filings of any kind, and one venture round whose size the company never disclosed. The UK subsidiary’s accounts are the only hard numbers on the record, and they show a company running on a loan from its Delaware parent.
$4.5MSeed round, December 2018, led by Real Ventures
$20M+June 2023 venture round as reported by Sifted; the company gave no figure
$1.49MUS federal awards on record: NIH SPARC and the Neuromod Prize
£13.69MOwed by the UK company to its group at Dec 31, 2024
Data as of September 22, 2026. Company-reported figures are labeled.
Rounds at a glance
| When | Round | Amount | Investors | Source |
|---|---|---|---|---|
| 2017 | Y Combinator, Winter 2017 | Not disclosed | Y Combinator | YC data |
| Before Dec 2018 | Grants and awards | Not disclosed | Cisco, MassChallenge UK, Innovate UK, Founder.org | TechCrunch |
| Dec 2018 | Seed | $4,500,000 | Led by Real Ventures, AME Cloud Ventures and Ariel Poler; Endure Capital, Heuristic Capital Partners, K5 Ventures | TechCrunch |
| By 2019 | Innovate UK grant | £100,000 | Innovate UK | Business Weekly |
| 2021 to 2022 | NIH SPARC award OT2 OD030536 | $1,385,033 | NIH Common Fund | NIH RePORTER |
| Jul 2022 | Neuromod Prize, Phase 1 | $100,000 | NIH Common Fund | NIH |
| Jun 2023 | Venture round, size withheld | Reported as more than $20M | Selvedge Venture and XTX Ventures leading; Real Ventures, Fifty Years, Y Combinator, Kern Venture Group, Lord David Prior, Mark Slack | Release plus Sifted sources |
| May 2026 | Pre seed for the spin out Kordata Dynamics, not for BIOS | Not disclosed | MAVRK Celestia Fund, Kern Venture Group, Digital Neural Infrastructure Holdings | Company release |
What the filings show
BIOS Health Ltd · accounts to registrar · filed Dec 17, 2025
- Period
- Year ended December 31, 2024
- Employees
- 16 average · 25 in 2023, 29 in 2022, 23 in 2021
- Cash at bank
- £453 · £96,959 a year earlier
- Net liabilities
- £14,412,840 · £12,927,327 a year earlier
- Owed to group
- £13,689,168 due after more than one year
- Share capital
- 100 ordinary shares of £0.01, £10 in total
- Audit
- Exempt under Section 477 · profit and loss account not delivered
- Parent
- Cambridge Bio-Augmentation Systems Inc, Wilmington, Delaware
- Filing
- Companies House, company number 09575301
SEC EDGAR · no filings found · searched Sep 22, 2026
- Names searched
- BIOS Health, Cambridge Bio-Augmentation Systems, Kordata
- Form D
- None
- Any form
- None · no CIK exists for any of the three
- Reading
- A Delaware parent selling securities to US investors would normally file a Form D unless it relied on Section 4(a)(2)
- Filing
- SEC EDGAR company search and full text search
Reading the filings
- The parent funds the subsidiary, and the tap is closing.Creditors due after more than one year, almost all owed to group companies, went from £8,783,151 at the end of 2021 to £11,624,394, then £13,527,486, then £13,700,070. That is £2,841,243 of new group funding in 2022, £1,903,092 in 2023 and £172,584 in 2024, the last about 6 percent of the first.
- The burn fell because the staff did.Accumulated losses grew by £3,936,142 in 2022, £1,650,183 in 2023 and £1,485,513 in 2024. Divide by average headcount and the UK operation cost about £135,700 per employee in 2022 and about £92,800 in 2024, on 16 people instead of 29.
- A reported $20M round leaves no trace in these numbers.Sifted wrote in June 2023 that “The new funding round is north of $20m according to sources”. That year the UK company took £1,903,092 more from its group and ended with £96,959 in the bank. Capital raised at the Delaware parent need not reach the subsidiary, so this is no contradiction. It does mean no filing anywhere confirms the round.
- There is nothing to find at the SEC.No Form D and no CIK under BIOS Health, Cambridge Bio-Augmentation Systems or Kordata. Companies that raise under Section 4(a)(2) file no Form D, so silence is not evidence of no money. It does remove the one filing that would normally state an amount, an investor count and a first sale date.
- Grants are small, and they are the only government-confirmed money.The $1,385,033 NIH award and the $100,000 prize total $1,485,033, roughly 6 percent of the $4.5M seed plus the reported $20M round. Every other figure here comes from the company or from unnamed sources.
- The UK balance sheet holds no equity story.Share capital is £10 across 100 shares, the register shows no charges and no persons with significant control since March 2017, and the two directors are a corporate director at the same Cambridge address and one individual appointed in December 2024. The equity sits in Delaware, where nothing is filed.
Commercial signals
| Signal | Detail | Source type |
|---|---|---|
| Regulatory | No FDA 510(k) or PMA record and no UK device registration found. NeuroTune is sold as software to research and clinical partners. | Public record |
| Revenue | Profit and loss account not delivered. Trade debtors were £221,081 at Dec 31, 2024, against £216,005 a year earlier. | Public record |
| Customers | None named. The company says NeuroTune is available to select clinical and preclinical partners. | Company-stated |
| Programmes | Software partner on REVEAL, the NIH vagus nerve study led by the University of Minnesota, completion estimated Aug 2027. | Independent and company |
| Spin out | Kordata Dynamics, launched May 2026 in Bakersfield. Forbes reported BIOS supplied the core IP and retains majority ownership; Emil Hewage runs both. | Independent |
| Clinical evidence | Published dosing results are in ten anaesthetised pigs. No human dosing data, no BIOS-sponsored trial registered. | Public record |
What to watch
- Accounts to December 31, 2025, due at Companies House by September 30, 2026. Headcount and the parent loan are the lines that matter.
- A first SEC Form D, which would put a number on any US round for the first time.
- Whether Kordata raises a priced round and whether BIOS keeps its majority.
- Any disclosed customer or revenue figure. The UK filings will not show one under the small companies regime.
The BIOS Health story on Healthcare DiscoveryHealthcare Discovery
Related companies
Sources
- Public recordBIOS HEALTH LTD accounts, FY2021 to FY2024
- Public recordBIOS HEALTH LTD company register
- Public recordEDGAR search, no results for any company name
- Public recordNIH RePORTER award OT2 OD030536
- Public recordNeuromod Prize Phase 1 winners
- Public recordClinicalTrials.gov NCT06143293, REVEAL
- IndependentBIOS raises $4.5M to develop its neural interface
- IndependentA Human Genome Project for the nervous system?
- IndependentBIOS Health raises funds for precision medicine
- IndependentCambridge startup wins 100k pounds for bionics
- IndependentKordata launches to advance neurotech-powered trials
- IndependentKordata launches a neural-focused trial model
- CompanyIndustry insiders and strategic investors back BIOS Health
- CompanyBIOS Health plans a precision medicine center in Bakersfield
- CompanyKordata Dynamics emerges from stealth
Compiled from Companies House, SEC, NIH and ClinicalTrials.gov public records and published reports as of September 22, 2026. UK small company accounts are unaudited and exclude the profit and loss account. Healthcare Venture Capital Fund holds no position in BIOS Health. This page is not an offer to sell or a recommendation to buy any security.