London based medical tech company raises $12m to launch virtual oncology solution
A London based medical technology business has raised $12m in a funding round co-led by UK growth capital investor BGF.
Other investors included growth fund manager, Parkwalk, with participation from existing seed investor Sussex Place Ventures.
Entia, which recently announced a commercial partnership with Pfizer UK, will use the funds to launch Entia Liberty, a virtual oncology solution that allows patients to perform their own blood tests at home so remote healthcare teams can monitor and manage the haematological toxicity of cancer treatment.
Dr Toby Basey-Fisher, founder and CEO, said: “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.
“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, commented: “We’re delighted to be making another investment in the UK’s pioneering and thriving healthcare sector, having recently broken the £100m 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.”
Since founding the company in 2015, Entia has built partnerships with leading healthcare institutions such as The Christie NHS Foundation Trust, to pioneer the introduction of new remote care solutions.
Pfizer UK recently announced its partnership with Entia in which it has committed to make Entia’s virtual monitoring service available in the UK for metastatic breast cancer patients in 2022, following regulatory approval.
Results are shared with healthcare professionals via Entia’s cloud network and integration tools.
This approach aims to create new insights into how individuals are responding to care and subsequently may enable more personalised decisions to mitigate life-threatening complications.
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular morning London email for free.