Start-up Medtech 52 North Health has raised £ 1m in its first round of funding, led by Cambridge Enterprise.
52 North, headquartered at Cambridge, will use the capital to fund clinical trials for its NeutroCheck device. It also plans to pursue partnerships with the UK Sepsis Trust and Macmillan Cancer Support.
Founded in 2018, 52 North Health aims to improve healthcare with a medical device that uses artificial intelligence (AI) to determine the risk of neutropenic sepsis for patients undergoing chemotherapy.
The portable device allows patients at home to determine their risk, by blood finger pressure.
The platform can be used to retrieve soluble and insoluble biomarkers from a single biological specimen using an app-supported device, the NeutroCheck.
At present, patients undergoing chemotherapy who feel unwell are told to go to A&E, where patients are given antibiotics and blood tests, but half are found to be at no risk.
“We are delighted to have the support of excellent investors who are aligned with our values. With the advent of personalized medicine and an increasingly decentralized healthcare system – a pandemic-accelerated need – many existing care pathways are no longer fit for purpose. In addition, digitization of healthcare can often exacerbate health inequalities, ”said Umaima Ahmad, CEO and co – founder of 52 North Health.
Additional funding came from Crista Galli Ventures, King’s Health Partners MedTech Innovations, Meltwind, Milltrust Ventures and a group of angel investors.
According to 52 North Health, Neutropenic sepsis kills three people in England and Wales every day.
“We are delighted and proud to continue our successful relationship with 52 North Health. This investment is a significant milestone in the NeutroCheck technology journey from laboratory concept, through our Chris Abell Postdoc Business Plan in 2018, SBRI Healthcare grant award, and now into commercialization, ”said Dr Amanda Wooding, director of investment, Cambridge Enterprise.
The news continues £ 1m in funding from SBRI Healthcare in January this year and £ 100,000 in January 2021. SBRI Healthcare is funded by NHS England and assisted by the Academic Health Science Network.
SBRI Healthcare earlier this year £ 9m was spent on eight recent projects developing cancer diagnosis technologies.
Medtech 52 North Health is launching £ 1m to test a sepsis test device
Source link Medtech 52 North Health is launching £ 1m to test a sepsis test device