SBRI Healthcare backs Cambridge medical device developer with a Phase II award.
"We are privileged to have the support of the SBRI Healthcare programme and are committed to working with our world-leading collaborators to deliver on our ambitions to improve the care of cancer patients."
TRICAPITAL led the investment round with backing from a syndicate of Scottish investors.
"Our next phase of growth will involve building international partnerships, growing the team, and appointing a scientific advisory committee to support the work of the main board."
Future Planet Capital led the round as the med-tech startup prepares for international market launches.
"This funding allows AMLo to embark on the next step of our journey with the resources to potentially relieve countless people with early-stage melanoma from the anxiety and follow-up burden that should be reserved for those with higher risk disease. I am delighted to welcome several new investors, and especially to see such strong additional commitment from our previous partners. Our levelling up from an academic spin-out to commercial success is critical to ensure we have the resources to further drive innovation in medical devices across our markets."
The digital healthcare start-up secured backing from IP Group and Parkwalk Advisors to scale operations in Europe and the US.
"However, due to resource costs and poor logistics, current health systems cannot deliver the amount of therapy needed, with significant backlogs, and few patients receiving anywhere near what they require to get better. This is a common problem faced by hundreds of millions of patients around the world, with inefficient care pathways not only costing health systems hundreds of billions of dollars every year, but costing people a chance to live their lives to their full potential."
The biomedical startup has closed a £2.3m Series A round backed by Mercia Asset Management, ACF Investors, Wren Capital and Wealth Club.
"Adapttech brought its first product to market during 2021, successfully securing a number of sales. We are delighted to be supporting the team with a follow-on investment to continue to scale the business and build out the product portfolio."