MedTech startup uMotif raises £5m from AlbionVC, as COVID-19 accelerates remote clinical studies
https://techcrunch.com/2020/09/03/medtech-startup-umotif-raises-5m-from-albionvc-as-covid-19-accelerates-remote-clinical-studies/
couMotif has an app that allows patients to monitor themselves for treatments or drug trials which then feeds into a platform allowing a much faster approach to clinical studies. It’s now raised £5 million in a Series A investment round led by existing UK investor AlbionVC, with participation from Oslo-based DNV-GL and existing angel investors. This latest round takes it to a total funding size of £7.5m.
The platform is sold into life sciences companies which are gradually replacing centralized studies where patients have to go to a site, such as a hospital, to submit their data. The trend has obviously been catalyzed by Covid-19. The platform is now used by studies taking place in 26 countries from clinical to real-world settings, and across more than 25 therapeutic areas – from dermatology and rare disease to oncology and cardiology. The largest study involved over 13,000 participants tracking their pain levels and the weather. This was featured on the BBC and published in Nature.