Closed Loop has raised £2.1 million in venture capital funding.
The funding will support the development of a drug and digital approach to treat and manage major health conditions our society faces, starting with sleep disturbance and hypertension, with intentions to develop fully regulated, evidence-based drug and digital solutions for the NHS and international healthcare providers.
The money was raised from Longwall Venture Partners, IQ Capital and Martlet, the investment arm of the Marshall of Cambridge group, with several leading Cambridge Angel investors taking part in the financing, including the well-known serial entrepreneur, Sherry Coutu.
This most recent funding round has enabled the company to take offices in London, invest in technical product development, start clinical development and clinical trials as well as invest further in drug development.
Dr Hakim Yadi, executive officer of Closed Loop Medicine, said: “Having been in stealth mode for several years, this latest fund raising marks a significant milestone for the business and its founders. As well as securing venture capital funding from experienced investors in deep tech and life sciences, we have been able to establish corporate partnerships with international Pharma companies and the NHS, we have also hired a senior management team that represents the very best in talent across healthcare and technology.”
Closed Loop Medicine is a new breed of therapeutics company that combines proven drug treatments with digital therapeutics, delivering evidence-based therapeutic interventions to patients that are driven by high quality software programs to prevent, manage, or treat a medical disorder or disease.
The company’s approach uses data and insights about how a patient is responding to treatment to tailor drug and non-drug therapy, which provides a much faster way of getting an individual to their optimum outcome.