The Manchester medtech company raised backing from the GMC Life Sciences Fund and NPIF II to expand its team and fulfill commercial contracts.
"Following a period of intensive development, during which we priortised quality, our customers’ needs and patient outcomes, I am delighted to see Pill Connect move into commercial adoption. Our dispensers are now being used in clinical trials, ensuring that one of the most critical factors – the drug being taken – is now both measurable and can be acted upon during a clinical trial."
The financing round was co-led by Radical Ventures and Sofinnova Partners to accelerate the development of programmable biology tools.
"Every biotechnology or pharmaceutical company wants to be at the forefront of technology to find the best therapeutic molecules, yet not all are in a position to develop the most advanced AI models for the job. That’s where Latent Labs comes in. We push the frontiers of generative biology, giving our partners instant access to tools that accelerate their drug design programs."
The funding was backed by investors including Lyva Labs and the Northern Powerhouse Investment Fund II.
"This funding allows us to take critical steps in validating and refining our technology. With the support of our partners, we are working to bring a practical solution to healthcare challenges. The collaboration between Lancaster University and Morecambe Bay NHS Foundation Trust laid the foundation for this innovation."
The funding was led by Mercia Ventures and the North East Venture Fund to help bring the non-invasive health sensor to market.
"A build-up of lactic acid causes muscles to seize up and athletes to suddenly ‘hit a wall’, but it’s hard for them to know when this will happen without measuring lactate levels. Fingerprick tests are uncomfortable, fiddly and not always accurate. Our device will overcome these problems and provide continuous monitoring, rather than a one-off measurement. This latest funding, together with our partnership with a major global chip manufacturer, will enable us to bring it to market."
Eos Advisory led the Series A round alongside new and existing backers to fund international expansion and commercialisation.
"The Dxcover technology combines deep technical innovation with machine learning to radically change the diagnostic landscape. Over the last three years they have conclusively shown the accuracy and ease of use of their diagnostic test across multiple cancer indications. This is very much aligned with Eos’ approach to investing in innovation that has the potential to impact positively in people's lives. More recently the team at Dxcover have focused on building a world class international team on both sides of the Atlantic. This funding round is very much about commercialization in both the UK and the US."
