Closed Loop Medicine, the Cambridge-based health tech startup that helps doctors and healthcare providers to deliver personalised treatment regimens, has raised £2.1 million in venture capital funding.
The raise was from Longwall Venture Partners, IQ Capital and Martlet, the investment arm of the Marshall of Cambridge group. Several leading Cambridge Angel investors took part in the financing, including the well-known serial entrepreneur, Sherry Coutu CBE.
Closed Loop Medicine is a new breed of therapeutics company that combines proven drug treatments with digital therapeutics.
Digital therapeutics deliver evidence-based therapeutic interventions to patients that are driven by high quality software programs to prevent, manage, or treat a medical disorder or disease. Even in countries with the most advanced healthcare systems, few providers deliver truly personalised care. This is because current models of care do not have the ability to deliver fully integrated treatment underpinned by cutting-edge technology.
The Closed Loop Medicine approach uses data and insights about how a patient is responding to treatment to tailor drug and non-drug therapy, which provides a much faster way of getting an individual to their optimum outcome.
Dr Hakim Yadi OBE, CEO and Co-Founder of Closed Loop Medicine said: “Having been in stealth mode for several years, this latest fund raising marks a significant milestone for the business and its founders.
Meet WeWork Labs: the accelerator-focused startup community
“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.”
The funding 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 NHS and international healthcare providers.”
This most recent funding round has enabled the company to take offices in London, invest in technical product development, start clinical development and clinical trials as well as invest further in drug development.
The funding has also been used to recruit the current management team, as well as support building out the CLM tech team.
Dr Rebecca Todd, Investment Director, specialist health and life sciences investor at Longwall Venture Partners, said: “Closed Loop Medicine has brought together a world-class team of experienced and passionate healthcare professionals with the goal of delivering a step-change in how we do medicine in the 21st century.”