uMed raises £9.8m to boost participation in clinical trials, expanding to N.America – uMed
Summary
Late-stage industry clinical research in the UK fell by 41% between 2017 and 2021, which is putting future patient care at risk The healthtechs latest round of funding will directly combat this problem by accelerating research and care support for targeted patient groups through its landmark cohort programmes The successful raise will also be used to expand uMeds presence in North America, increasing the companys global patient access to over 10 million people by the end of 2023LONDON, 5th July 2023: uMed, the health and research technology company, has raised \xa39.8 million in its latest venture capital funding round, which it will use to boost participation in clinical trials. uMed directly tackles this issue by enabling healthcare providers in the UK, US and Canada to more easily participate in clinical research and care improvement activity without additional cost or burden to staff. The uMed platform rapidly finds and engages suitable patients, and collects prospective data to answer key clinical questions, while also enabling GPs to generate additional revenue for their practice. This is in line with last months review by Lord OShaughnessy which urged the Government to provide financial incentives to GPs to help boost commercial clinical trials.The latest funding round will extend the reach of uMeds landmark cohort programme in Parkinsons Disease, Access-PD, to several thousand patients globally by the end of the year. These moves will be closely followed by a pipeline of deals that include direct health systems access and additional channel partners which will give uMed access to over 10 million patients by the end of 2023.Since its 2020 seed round, uMeds technology has enabled a number of successful nationwide studies to take place across the UK, including a prospective precision medicine clinical trial for patients with high hypertension and a nationwide study into identifying risk of Parkinsons Disease.Molly Gilmartin, Investor at AlbionVC, said: At AlbionVC we are thrilled to continue partnering with Matt Wilson and his team to enable longitudinal research which has historically taken decades and cost millions of pounds.