London, United Kingdom-based healthtech company monitoring cancer Entia Bags closed its Series A financing at EUR 18.7 million. The company announced the closure on July 29, 2023. BGF, as well as Parkwalk, led the financing for the firm. Meanwhile, other existing investors also joined in the Series A funding.
Purpose of financing for Entia Bags
With the recent financing, Entia Bags seeks to invest in the UK commercial rollout and US regulatory approval of the company’s flagship innovation, Liberty. Liberty is one of the most comprehensive remote patient monitoring solutions for people undergoing cancer treatment.
What the company’s officials have to add
Dr Toby Basey-Fisher, CEO and Founder of Entia, further said, “Providing more care for people outside of the hospital is not only beneficial for patients but is highly advantageous for healthcare providers. Such an approach allows us to move routine health assessments out of healthcare centres and also drives a more preventative model of healthcare where problems are identified and addressed early on. This is about enhancing patient care by keeping people on treatment longer, reducing unplanned hospitalisations, and ultimately improving survival outcomes.”
What the investors have to comment
In addition, Joanna Smart, portfolio lead at BGF, said, “We have been consistently impressed by the commitment and enthusiasm of the Entia team to significantly improve remote monitoring solutions for cancer patients. This, combined with their scientific acumen, has created a uniquely user-friendly means of monitoring vital health information with the dual power to transform the quality of life and drive efficiencies for healthcare providers. We look forward to supporting the business on the next phase of their journey.”
Besides, Neil Cameron, Investment Director at Parkwalk Advisors, added, “Our investment in Entia offers a profound opportunity to positively impact the lives of people with cancer. Cancer patient numbers are increasing, and we need to embed and capitalise on innovative technologies to ensure our healthcare systems have the resources and capacity to give everyone that needs it the best chance of beating this terrible disease.”
About the company
Robert Balfour, Millie Clive-Smith and Toby Basey-Fisher launched the company in 2014. Entia aims to remove some of these pressures and support healthcare providers. It seeks to arm them with real-time insights that help keep treatment on track. It further alerts them to potential complications before they can affect a patient’s quality of life. Entia’s Liberty solution is unique. It offers symptom and vitals tracking alongside full blood count analysis that includes monitoring of neutropenia – one of the most common and costly side effects of cancer treatment.
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