Healum, a UKRI-backed innovator of AI-powered clinical software, has secured venture capital to further develop its business and products.
The company previously received funding from UK Research and Innovation (UKRI) under the digital health technology catalyst (DHTC) programme, part of the medicines manufacturing challenge. The funding helped the company to develop the machine learning algorithms that power recommendations in its patient management system. This included crowdsourcing content from networks of healthcare professionals.
The disruptive approach in using artificial intelligence (AI) in healthcare puts healthcare professionals in control of the development and training of the AI. This ensures that trust, privacy and safety come first when supporting patients to manage their conditions.
Now Healum has secured investment from Maven Capital Partners and Catapult Ventures acting on behalf of:
- the Northern Powerhouse Investment Fund
- the Greater Manchester and Cheshire Life Science Fund.
The investment will be used to expand the company’s operations in Greater Manchester and to aid healthcare professionals in delivering programmes for people with other long-term conditions. Programmes include:
- remote care
- behaviour change.
The investment will also help to bolster Healum’s existing clinical research partnerships with:
- Greater Manchester CRN
- Vernova Healthcare CIC.
With these partners, a randomised control trial is being delivered as part of a UKRI project. This is to help primary care teams to improve health outcomes for patients with type 2 diabetes.
Over the next year, the company will build on its partnerships across the region to launch a live, learning research network. The network will drive the models behind its integrated patient management system and care planning software.
Healum’s co-founder and CEO, Jonathan Abraham said:
We are delighted to have received investment from the Northern Powerhouse Investment Fund and Greater Manchester Life Science Fund. This gives us the opportunity to build on our existing clinical and research partnerships in Greater Manchester, to tap into the wealth of talent in the region and to play our part in champion innovations that will help individuals with long-term conditions manage their health so they can live longer, more fulfilling lives.
Chris Sawyer, innovation lead for digital health at UKRI said:
It is great to see that Healum has now raised further investment to maximise the commercial, medical and research impacts of its Innovate UK project, and has decided to play its part in driving health technology innovation as part of the region’s northern powerhouse strategy.
This project has been funded by the DHTC programme, part of the medicines manufacturing challenge, delivered by UKRI. Through the medicines manufacturing challenge, more than £180 million will be invested in infrastructure and projects that focus on accelerating the development and manufacture of new medicines and treatments, including vaccines.
Like other challenges, it brings together the UK’s world-leading research with business to meet the major industrial and societal challenges of our time. It provides funding and support to UK businesses and researchers, part of the government’s £4.7 billion increase in research and development over the next four years.
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