Closed Loop Medicine today announced they have completed a £13 million financing deal to advance their personalised drug and digital therapy combination products to enable precision dosing.
This new investment will enable the company to develop their platform and products further and faster, and to register and commercialise these over the next few years. This latest investment round brings the total raised by the company to over £22 million since it was founded.
Drugs and digital – a powerful combination
Closed Loop Medicine has established a proprietary platform to create products that are a combination of drugs and digital technologies. This combination will enable doctors to better use data to optimise drug doses alongside providing non-drug therapies such as behavioural support.
For patients this means receiving more personalised and better tailored care that closes the gap between the traditional silos between drug and non-drug treatments.
The company is currently developing two products to treat insomnia and hypertension and has a pipeline of future combination products to treat other long term conditions.
Around one in ten adults are affected by insomnia – and it can be particularly debilitating for patients who are also living with other conditions such as cancer, neurodegeneration, depression and anxiety. Hypertension, or high blood pressure, affects around a third of adults and can have long-term effects on health and wellness.
With these two products, the company aims to have make a significant difference to people around the world.
“Precision medicine has, until now, only been applied to a handful of medical conditions,” says Hakim Yadi, CEO and co-founder at Closed Loop Medicine.“The ability to combine software as a medical device, as a drug and digital combination, integrated with a drug therapy as a single prescription enables a new chapter in precision integrated care.”
“Our vision is for patients to receive a prescribed course of care that is more precisely tailored to them – drug doses being tailored for them as individuals integrated with behavioural and wellness support,” explains Hakim. “Ultimately we want treatments to become safer and more effective.”
“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,” he continues. ‘‘We are delighted to have the support of such highly respected investors as we aim to improve care and outcomes for patients, and are very pleased to now welcome the experience and insight of LifeArc’s Clare Terlouw to our Board.”
The perfect fit for LifeArc
Investing in new medical innovations as they translate from the lab towards the clinic is a key part of our strategy. Our early ventures funding aims to bridge the gap between academic innovation and the early stages of venture funding.
We want to support young companies developing new products and technologies with the potential to transform patients’ lives.
Our investment in Closed Loop Medicine is a great example of our plans.
“We are pleased to support Closed Loop Medicine as it progresses in developing its drug and digital therapy combination products,” says Clare.
“This is an area of innovation at the intersection of data, digital health and traditional therapeutics, and one that LifeArc strongly supports. We look forward to working with the team and investors.”
Like LifeArc, Closed Loop Medicine has a strong focus on patient involvement. The team develops its products alongside patients, works closely with medical research charities, and conducts patient participation and involvement activities to design and develop its products.
Find out more
Read more about our Early Venture Investment team and the companies it supports.