UK HealthTech gets €22.5m from Bayer
Written by Peter Walker
Medopad has announced a €22.5 million Series B funding round, led by Leaps By Bayer.
This brings the UK-based HealthTech startup’s total funding since inception in 2011 to over €45 million. It plans to use the latest investment to support new clinical studies, including digital biomarker discovery and creation of digital therapeutics (DTx) – as well as hiring new staff and expanding geographically.
Founded by Dan Vahdat and Rich Khatib, the company teams up with scientists, healthcare and pharmaceutical professionals, and technologists to build healthcare services via a portfolio of DTx and digital biomarkers. These collate data to predict and detect condition progression and enable diagnosis.
Vahdat commented: “We are delighted that Leaps by Bayer, who participated in our Series A round, have now become the lead investor in our Series B – we have found the ideal partner with the dedication to help us reach our vision of creating a world where each person lives their life to the fullest.”
Medopad currently has several clinical trials underway to develop new digital biomarkers for conditions like Aortic Stenosis, Parkinson’s, Diabetic Neuropathy and depression.
Its modular approach, which covers a wide variety of disease areas to deliver better and more personalised care, aims to transform the way patients and data interact with clinicians.