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Psyomics secures £ 2.4m investment in Serie B led by Parkwalk – UK Tech Investment News

Cambridge, UK – June 21, 2022 – UK-based healthcare technology company Psychomics closed a £ 2.4 million funding round as they continue to expand access to their online mental health assessment platform to individual users and NHS funds. The funding was led by Parkwalk, the UK’s most active investor in university spin-out. Meltwind and other investors also participated, along with the new investment from Newable Ventures.

Psyomics was created by the University of Cambridge with a mission to develop technology to support early and improved mental health diagnosis and treatment management. With significant pressure on the NHS and other resources in recent years, there has been a greater need for solutions when it comes to mental health, to ensure that people get the support they need, when they need it.

Built by psychiatrists and psychologists, its Censeo mental health assessment platform mirrors the rich process of a complete, digital, face-to-face assessment. Users are guided through a series of adaptive questions to build a detailed picture of their mental health symptoms and concerns. A report is then generated consisting of potential conditions and recommendations for the next step, providing patients with a stigma-free way to begin addressing any issues.

When used within a healthcare setting, the platform supports physicians (psychiatrists or not) with more efficient decision making, helping them to establish the right path of care and level of support more quickly. A pilot project was conducted in primary care practices last year, with positive feedback received from both primary care physicians and patients. As a result of this, access to Censeo was opened for the first time to individual users earlier this year and new projects are starting within NHS care providers.

Stephanie Martlew, CEO of Psyomics, says:

“The continued support of Parkwalk, Meltwind and BGF along with the new investment from Newable Ventures allows us to expand the reach of Censeo, helping more people who are struggling to find the right support for their mental health needs. We are excited to grow our team, expand further across the NHS and demonstrate with our partners that our technology can make a substantial difference in the accuracy, consistency and efficiency of mental health assessments across a broad range. of clinical contexts “.

Martin Glen, Parkwalk Investment Director, commented:

“The past few years have shown how important digital health solutions are across the board to help address the growing challenges facing the healthcare system. Psyomics’ clinical and technology assessment tool will help transform the way mental health is diagnosed and the expansion of their platform within the NHS and to individual patients is a testament to their success. We are proud to have worked with their team from an early stage and look forward to seeing Psyomics continue to develop their platform and grow for years to come. “

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Of Psychomics

Psyomics is developing a unique technology to fundamentally improve the way mental health conditions are evaluated and treated. Drawing on both psychiatric and psychological expertise, our digital diagnostic tools provide every patient with access to a comprehensive mental health review beforehand. Drawing on twenty years of deep psychiatric and psychological experience, as well as a significant clinical trial, its Censeo digital diagnostic support platform mirrors the rich process of a human psychiatric evaluation. Sophisticated algorithms guide the patient through a select set of adaptive questions, from a bank of 1,400 questions, to build a holistic view of an individual’s entire mental health, providing a diagnosis indication where appropriate and enabling a clear treatment path .

Psyomics was co-founded by Professor Sabine Bahn, head of the Cambridge Center for Neuropsychiatric Research (CCNR) and Daniel Cowell, former COO of Horizon Discovery, with the aim of improving the diagnosis of neuropsychiatric disorders.

Of Walk in the park

Parkwalk is the fastest growing EIS fund manager, supporting breakthrough technologies emerging from leading UK universities and research institutes. With £ 400 million in assets under management, it has invested in over 150 companies through its Parkwalk Opportunities and Knowledge Intensive EIS Funds, as well as the award-winning business and innovation funds that Parkwalk manages for the universities of Cambridge, Oxford, Bristol and Imperial College.

Parkwalk invests in companies that create solutions to real-world challenges, with IP-protected innovations, in a wide range of industries including life sciences, artificial intelligence, quantum computing, advanced materials, genomics, clean tech, future of mobility, technology medical and big data.

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Psyomics secures £ 2.4m investment in Serie B led by Parkwalk – UK Tech Investment News

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