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London’s Closed Loop Medicine that develops drug plus digital therapy closes £13M funding 

London-based Closed Loop Medicine is one of the UK’s leading pioneers in digital/therapeutic medicine. The company just announced that it has closed £13 million in a new Series A investment round that came from a slew of top UK and European VC investors.

Product development plans

The oversubscribed funding round was led by Ananda Impact Ventures and BGF, joined by a strong syndicate of investors including LifeArc, Longwall, Meltwind, IQ Capital, Downing Ventures and Cambridge Angels. With this round, the total investment raised by the company accounts for over £22 million.

The proceeds from the round has been raised to finance its personalised drug plus digital therapy (DTx) combination products that are being developed to enhance outcomes for patients and clinicians via precision dosing. Furthermore, the investment will fund further platform and product development. Also, the financing will accelerate the development, registration and commercialisation of its platform and precision dosing products.

Hakim Yadi, CEO and co-founder at Closed Loop Medicine, said: ‘‘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.”

Lennart Hergel, Ananda Impact Ventures, commented “Closed Loop Medicine’s models of care will generate significant impact for individuals, who would have otherwise received standardised treatment, through better outcomes and addition to quality of life. At a systemic impact level, this approach promises to radically and impactfully change the capacity and performance of healthcare systems for the whole population’s benefit.”

Tim Rea, investor at BGF, commented: “We have backed Closed Loop Medicine since February 2020 and are delighted to be supporting the next stage of the company’s growth journey. The team have pioneered a revolutionary approach to combining drug and digital therapies to offer more personalised care pathways for patients and clinicians. We look forward to continuing to work with the management team, as they respond to the growing market need for new digital models of healthcare.”

Matt Pierce from Downing Ventures adds: ”As we are living through a time when the importance of healthcare is more prevalent than ever, Closed Loop is improving outcomes for patients through tailored, personalised care with next generation therapeutics. We are proud to support Closed Loop Medicine and the incredible work they are doing to improve the healthcare space. We look forward to working with Hakim and his team in this next exciting chapter for the business.”

Dr Andy Richards CBE, Closed Loop Medicine Chairman commented “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”

Appoints new Board member

Beaides the investment, Clare Terlouw, Head of LifeArc Ventures joins the Closed Loop Medicine Board.

Clare Terlouw, Head of the Early Ventures team at LifeArc commented: “LifeArc Ventures is pleased to support Closed Loop Medicine as it progresses in developing its drug + DTx combination products. 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.”

Drug plus digital combination products

Closed Loop Medicine has established a proprietary platform for the creation of drug plus digital combination products, the next generation of patient centric pharmaceuticals. The company has two products in clinical development to treat insomnia and hypertension and a pipeline of future combination products in other therapeutic areas. This financing will accelerate the development, registration and commercialisation of its platform and precision dosing products.

The company was founded by an experienced team of healthcare professionals, entrepreneurs and life scientists with experience of both drug and software development, as well as extensive health system innovation experience.

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