Cambridge, UK-based healthtech startup Closed Loop Medicine, which helps healthcare providers to develop and administer personalised treatment courses, has announced that it has raised £2.1 million in pre-Series A venture capital funding.
Among those taking part in the funding round were entrepreneur Sherry Coutu, Longwall Venture Partners, IQ Capital, and the Marshall of Cambridge group’s investment arm, Martlet.
“Having been in stealth mode for several years, this latest fundraising marks a significant milestone for the business and its founders,” said Dr Hakim Yadi, Co-Founder of the startup. “As well as securing venture capital funding from experienced investors in deep tech and life sciences, we have been able to establish corporate partnerships with international pharma companies and the NHS. We have also hired a senior management team that represents the very best in talent across healthcare and technology.”
Closed Loop Medicine’s approach to therapeutics combines tried and tested drug treatments with innovative digital therapeutics, in which intelligent software calculates the optimum ways to prevent, manage or treat medical issues, helping to deliver evidence-based interventions. The hope is that patients can be offered care on a truly personalised level; the approach also constantly monitors how patients respond to drugs and therapy so that their treatment can be modified accordingly, hopefully leading to optimum health outcomes.
“The funding,” said Dr Yadi, “will support the development of a drug + digital approach to treat and manage major health conditions our society faces, starting with sleep disturbance and hypertension. The company intends to develop fully regulated, evidence-based drug + digital solutions for the UK National Health Service (NHS) and international healthcare providers.”
Dr Rebecca Todd, Longwall Venture Partners’ Investment Director, who specialises in health and life sciences, commented: “Closed Loop’s unique approach for providing personalised precision medicine – by combining drug with digital to create individualised treatment regimens – will be applicable across a wide range of clinical areas and has the potential to transform the way we treat patients and manage illness.”