A UK-based med-tech startup focused on oncological innovations has secured €6 million in a funding round jointly led by KHP Ventures and Cedars-Sinai Medical Properties Company. (CSIP).
The company has secured a significant injection of capital, with the latest round totalling €6.5 million and including investments from OKG Capital, Cambridge Enterprise Ventures, cancer research institutions Most cancers Research Horizons and Macmillan Cancer Help, as well as individual angel investors Jonathan Milner and Roland Diggelmann. This brings the company’s total funding to a substantial €9.5 million. The project further received a €1.4 million grant from the National Institute for Health and Care Research (NIHR), significantly enhancing its scope.
For the first time, leading hospitals in the UK and US have collaborated to lead a joint funding initiative, as part of their partnership with 52North.
Umaima Ahmad, CEO of 52North, underscored the significance of this investment cycle, stating,
At the heart of the startup’s decisions lies Neutrocheck, a cutting-edge point-of-care device and app engineered to closely monitor patients undergoing chemotherapy for the risk of developing neutropenia or neutropenic sepsis – potentially life-threatening complications that require swift intervention.
Funding from this round will propel 52North’s initiatives to bring Neutrocheck to market, accelerate development of its product portfolio, and further fortify its Aster platform. Our platform aims to provide affordable remote mobile health monitoring solutions and fosters strategic partnerships with pharmaceutical companies. The funding enables the successful launch of ACORN™, a cutting-edge AI-powered platform designed in collaboration with the National Institute for Health Research (NIHR), thereby enhancing the safeguarding of acute oncology care provision.
As Tim Irish, Chair of KHP Ventures, observed,
With a shared enthusiasm for innovative visioning, Nirdesh Gupta, Managing Partner at CSIP, remarked: “
