Pfizer-backed London medtech Entia to launch virtual oncology solution in UK by 2022, raises $12M funding
Over 50 percent of systemic anti-cancer therapies cause haematological toxicity. The management of this condition accounts for 8 percent of all cancer treatment costs and leads to frequent and disruptive healthcare visits for patients. To minimise this, Entia helps people taking up cancer treatment with its virtual solution.
A medtech startup from London that recently announced a commercial partnership with Pfizer UK transforms the lives of people receiving cancer treatment. Now, the company has picked up $12 million (nearly £8.8 million) in a funding round, which was led by UK growth capital investor BGF alongside existing seed investors, including Parkwalk and Sussex Place Ventures.
To launch its solution in UK
The medtech startup will use the investment to launch Entia Liberty, its virtual oncology solution, which lets patients perform their own blood tests at home so remote healthcare teams can monitor and help manage the haematological toxicity of cancer treatment.
Prior to this round, Entia raised over $13 million including major investment from Innovate UK as part of its Biomedical Catalyst programme.
Pfizer UK recently announced its partnership with Entia and is committed to make the latter’s virtual monitoring service available in the UK for metastatic breast cancer patients in 2022, following regulatory approval.
“Our approach at Entia is to empower patients with greater freedom whilst also equipping healthcare professionals with the insights to make more informed and personalised clinical decisions.” said founder and CEO, Dr Toby Basey-Fisher. “This funding will enable us to put Liberty in the hands of patients and prepare to meet growing international demand for our solution”.
Zahir Kasmani, investor at BGF, said: “We’re delighted to be making another investment in the UK’s pioneering and thriving healthcare sector, having recently broken the £100 million investment figure in life sciences businesses. Toby and the team have built a fantastic business with technology that is proven and already performing well in the market, providing efficient and accessible solutions for problems facing patients, clinicians, healthcare providers and insurers. Their ambition for future growth is really amazing and we’re excited to be part of the journey.”
Healthcare at home
Founded in 2015 by Toby Basey-Fisher, Entia has built partnerships with leading healthcare institutions such as The Christie NHS Foundation Trust, to pioneer the introduction of new remote care solutions.
Moving healthcare services into the home has become a strategic priority not only for health systems but also pharmaceutical companies.
Entia Liberty service uses a blood analyser that allows patients to perform a suite of blood tests in their own home. It is initially launching with the capability to help monitor haematological toxicity via a patient’s full blood count. Results are seamlessly shared with healthcare professionals via Entia’s cloud network and integration tools. This approach creates new insights into how individuals are responding to care and subsequently may enable more personalised decisions to mitigate life-threatening complications.
Entia Liberty is at the later stages of development and is pending regulatory approval. Currently, it is not available for sale