202426 Feb

University medical spinout gains £3.5m investment in seed round | TheBusinessDesk.com

Summary

Medical modeling firm adsilico, a University of Leeds spinout, has gained a combined \xa33.5m seed funding from Northern Gritstone and Parkwalk Advisors.The start-up uses computer modeling and simulation for produce scientific evidence about medical devices performance and safety prior to human clinical trials. The cost is ever-increasing, delaying lifesaving benefits to patients.Northern Gritstones and Parkwalks investment and support will enable adsilico to offer a scalable solution to the medical device market to produce evidence on an unprecedented scale.Duncan Johnson, chief executive of Northern Gritstone, said: Computational modelling has the potential to revolutionise the MedTech industry and reduce the risks to humans. Northern Gritstone is delighted to support adsilicos team, who once again demonstrate that great science and technology-enabled businesses are being created in the North of England.Moray Wright, chief executive of Parkwalk Advisors, said: We are proud to be backing adsilico through this seed funding round. adsilicos pioneering approach to in-silico trials has potential to significantly accelerate the pace of innovation in medical device development. Its fantastic to see this university spin-out take another step forward on its vision to bring safer and more efficient medical devices.

Source: Thebusinessdesk

Funding

$4.43M
Amount
Feb 26 2024
Date
-
Investor
Adsilico
Company

Classifications

Companies