The seed round was led by Faber with participation from international venture funds to support clinical trial operations.
"For hundreds of years, treatments have been developed with the assumption they will work for everyone. However, each person is different, and for many severe diseases such as Alzheimer’s, multiple factors can contribute to the effectiveness of a treatment on a given patient."
Liverpool-based venture builder Nova has provided £195k alongside hands-on startup support.
"We are delighted to welcome Laura and the Trialwell team onboard. Laura’s passion and commitment for helping people’s health and wellbeing is what led us to invest in this startup. We firmly believe that this venture will positively impact the health and wellbeing of many. This is something that we at Nova, are excited to be part of."
The oversubscribed seed round was led by Octopus Ventures with backing from Goodwater Capital, Y Combinator, Calm Storm Ventures and Bethnal Green Ventures.
"Tinnitus currently affects around 50 million people in the US and UK, of which 20 million have intrusive tinnitus, a condition that can severely impact an individual’s life. For many this is a condition that they have little choice but to ‘learn to live with’. The Oto team, however, refuse to habituate and instead are providing a 10x cheaper and more convenient way to help people manage their condition. Though they probably don’t complain, we all know someone who suffers from tinnitus and have seen the effects it can have on an individual’s life. This is one of the reasons we wanted to support George, Ed and the entire Oto team as they tackle the market and provide an innovative digital solution to a long overlooked issue"
The seed round will fund team expansion and technology development ahead of commercial launches in the UK and US.
"Our vision is to enable people with Parkinson’s and other neurodegenerative diseases and movement disorders to live healthier lives. NuRO could give patients and clinicians a much clearer picture of their condition, enabling treatment to be tuned accurately as needed. We’re excited to continue our work with leading hospitals and patient groups and to bring our technology to market."
The seed round was backed by returning angel investors and the Women Angels of the North Syndicate.
"This is a really exciting investment for us. The money will allow us to build on the foundations we have put in place and grow our business by bringing in new team members with skillsets that will strengthen our existing operation. It has been fantastic to see investors from the pre-seed round re-investing for a second time. They are very supportive in seeing us achieve our mission to accelerate research and improve the outcomes for people with rare cancers."
