Company
Founded in 2017, Newmanbrain company was born with the mission of making unbiased cognitive assessment available for mass screening. We wanted to build an accessible and easy to use system that clinicians and patients would “thrive” to use on a daily basis.
After the 2008 financial crisis, entrepreneur Pablo Belmonte, equipped with an MBA and a background in marketing, invited two individuals he considered exceptionally skilled—both technically and intellectually—to form a new company. Although the precise nature of the project was initially undefined, the central aim was to establish a biotechnology company focused on brain-related challenges.
During a collaborative brainstorming session, the group leveraged Dr. Carlos Belmonte’s deep scientific expertise in neuroscience and Dr. Joaquín Ibáñez’s background in medicine and technology. Together, they considered developing software for mental training tailored to athletes. However, upon evaluating the project’s technical and financial viability, they decided not to move forward with this idea.
While working on the project, Dr. Ibáñez discovered fNIR technology, previously confined to laboratory use, and proposed creating an instrument with custom technical specifications for recording brain activity. Once this new direction was chosen, Dr. Belmonte took on the task of assembling a team of scientific and technical specialists, drawing upon his extensive professional network to develop the first prototype.
After seven years dedicated to research and development, which produced an initial prototype, the group founded a spin-off company at Miguel Hernández University—an institution linked to two founding members. This marked the birth of Newmanbrain SL. With a thorough market analysis, the company decided to concentrate its resources on tackling dementia. The initial funding came from a friends-and-family round, which, upon its success, enabled the company to secure an ENISA loan offered by public administration. This facilitated entry into a Seed round with professional investors.
With support from these investments and numerous private backers, Newmanbrain now boasts a minimum viable product (MVP), multiple patents safeguarding its technology, a completed clinical trial, and is currently awaiting CE certification as a class IIA medical device.
Our History
Our History
Our idea could change the whole mental care paradigm.
Literature review about fNIRS.
Starting I+D UMH Physiology department - feasibility of using fNIRS technology.
With 2 new PhDs and 2 engineers that incorporated to the Physiology department.
With the first voluntary patients in the lab.
A spin-off of Miguel Hernandez University.
Assisted to multiple congresses: 2nd International Congress of Psychobiology. 17th National Congress Spanish Neuroscience Society (SENC). I International Congress of Investigation and Intervention.
First increase in share capital.
Framework agreement between UMH, the Institute of Neurosciences and Newmanbrain.
IN4 Bankia award "Best Startup".
Memorandum of Understanding (Spanish Hub for Innovation) signed.
First investment round Friends & Family.
Presentation of our fNIRS system in the 27th Healthcare Forum Barcelona 2020.
EU Seal of Excellence.
ENISA participatory loan (Spanish government).
Seed capital with UK-based and US-based fund.
Started CE mark process - IIA medical device classification.
- Successfully ended a ruled Clinical Trial.
- Closed bridge round 400k € (convertible notes).
- Full IP protection by patents.
- 3 publications in high impact journals.
- ISO 13485
- CE Mark pending approval.
- Closed bridge round 400k € (convertible notes).
- Demostration in operational enviroments.
- Pre-industrialization preparation.
- Closed bridge round 400k € (convertible notes).
- NeurotechEU agreement.
Come visit us
Our headquarters are located in Alicante (Spain).
