Cambridge health startup expands into London with £2.1m Series A funding
Cambridge startup Closed Loop Medicine (CLM) has raised £2.1m in venture capital funding.
The health tech startup, which helps doctors and healthcare providers to deliver personalised treatment regimens, received investment from Longwall Venture Partners, IQ Capital and Martlet - the investment arm of the Marshall of Cambridge group.
Several leading Cambridge Angel investors also took part in the financing, including serial entrepreneur, Sherry Coutu CBE.
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.
“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 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.
The Closed Loop Medicine approach is said to utilise data and insights about how a patient is responding to treatment to tailor drug and non-drug therapy, supposedly providing a faster way of getting an individual to their optimum outcome.
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.
Dr Rebecca Todd, investment director, specialist health and life sciences investor at Longwall Venture Partners, concluded: “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.”
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