Closed Loop Medicine, a health tech supplier developing a drug and digital combination product, has raised £13 million of new investment.
The company aims to support dosing and medication regimens with its app, to provide a digital companion, support and a way to capture data to provide insight.
This new investment brings the total raised by the company to over £22 million since it was founded. It has two products in clinical development to treat insomnia and hypertension, with the funding planned to finance the development, registration and commercialisation.
Hakim Yadi, CEO and Co-founder at Closed Loop Medicine, said: ‘‘We are delighted to have the support of such highly respected investors working alongside us to move forwards with our work on improving patient outcomes. We are also very pleased to welcome the experience and insight of LifeArc’s Clare Terlouw to our Board.
“This financing enables Closed Loop Medicine to take the next step towards creating a new standard for the future of care for patients with long-term conditions. Until now, precision medicine has only been applied to a handful of medical conditions. However, the ability to combine ‘Software as a Medical Device’, as a DTx, delivering behavioural therapy integrated with drug therapy, as a single prescription, is ushering in a new chapter in tailored medicine and care.”
Dr Andy Richards CBE, Closed Loop Medicine Chairman, added: “Providing the right dose of any medicine for a specific patient given the variability of individual therapeutic windows has largely been unaddressed by both the pharmaceutical industry and the clinical community. Through ‘drug plus DTx’ combination products this problem can be solved impacting on safer and more effective treatment of many diseases. This funding accelerates the achievement of that important goal.”