U.S. and U.K-based med-tech startup 52 North Health raises GBP 1 million in the first round of funding. The round took place on April 28, 2022. Cambridge Enterprise, the commercialisation arm of the University of Cambridge, led the round for 52 North Health.

Meanwhile, Crista Galli Ventures, King’s Health Partners MedTech Innovations, Meltwind, Milltrust Ventures participated in the funding. The round also saw participation from several angel investors.

Purpose of Funding for 52 North Health

52 North Health is developing a fully-integrated clinical, AI-driven medical device-based system called NeutroCheck for people with cancer.

Further, the med-tech startup will use the investment to take the NeutroCheck device through clinical trials in the U.K. It will also deliver on strategic partnerships with key partners. The partnerships include the U.K. Sepsis Trust and Macmillan Cancer Support. The solution will define a new clinical pathway for treating suspected neutropenic sepsis. Besides, it ensures that people living with the disease remain at the heart of the product life cycle.

What the founders have to say

Umaima Ahmad, CEO and co-founder of 52 North Health, said, “We are delighted to have the support of excellent investors who are aligned with our values. With the advent of personalised medicine and an increasingly decentralised healthcare system, many existing care pathways is no longer fit-for-purpose. In addition, the digitisation of healthcare can often exacerbate health inequality. Our team focuses on reinventing the healthcare journey for all patients across the globe, keeping health equity and improved health outcomes at the heart of our work. We are doing this through building solutions that are affordable, cutting-edge and built around people living with the disease. We are grateful to the dozens of people living with the disease who have volunteered their time to engage with our product life-cycle.”

In addition, the co-founder and technology advisor of 52 North Health, Dr Nicole Weckman, said, “Many factors such as where people live, their ethnicity, gender and level of education impact the level of care that people can access. This simply should not be the case, and health inequality is recognised as one of the key issues in the NHS Long-Term Plan. We are proud to be keeping this at the heart of our solutions, combining technology with patient and clinician input and key human values to improve health outcomes because this is the future of healthcare.”

What the investors have to say

Dr Amanda Wooding, Investment Director of Life Sciences at Cambridge Enterprise, said, “We are pleased and proud to continue our successful relationship with 52 North Health. This investment is a significant milestone in the journey of the NeutroCheck technology from laboratory concept, through our Chris Abell Postdoc Business Plan in 2018, SBRI Healthcare grant award, and onwards now into commercialisation.”

Besides, Dr Fiona Pathiraja, the Managing Partner of Crista Galli Ventures, said, “Funding and innovation in oncology often focus at the level of the cell. 52 North is disrupting cancer tech by innovating at the level of the patient. By building a software and hardware enabled solution, “NeutroCheck”, 52 North aims to reduce the number of patients admitted to hospital with life-threatening neutropenic sepsis. We at Crista Galli Ventures are proud to support such an excellent team in the vibrant Cambridge healthtech ecosystem.”

In addition, Daniel Dickens, Co-Managing Partner at KHP MedTech Innovations, said, “We’re thrilled to be supporting 52 North Health. Together our joint venture partners represent one of the largest teaching hospital systems in the U.K., Europe and South London. We believe NeutroCheck could make a transformative improvement to patient outcomes and experience of care.”

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.

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