Leeds University spin-out adsilico secures £3.5m in seed financing from Northern Gritstone and Parkwalk Advisors
Northern Gritstone and Parkwalk Advisors backed the seed round to support team expansion and product development.
adsilico develops in-silico trials solutions using virtual synthetic patient populations to improve medical device safety and accelerate research. The company originated as a spin-out from the University of Leeds.
Medical technology spin-out adsilico has secured £3.5m in a seed funding round backed by Northern Gritstone and Parkwalk Advisors. The capital will be deployed to support core product development and expand the firm's operational team in the UK.
Originating from research conducted at the University of Leeds, the company employs generative artificial intelligence and advanced simulation to create synthetic patient cohorts. This technology aims to reduce reliance on animal experimentation and streamline clinical trials for medical device developers.
From the founder
"Medical devices follow a lengthy evaluation with a tiny amount of scientific evidence currently derived from computer modelling and simulation. The cost is ever-increasing, delaying lifesaving benefits to patients. Northern Gritstone’s and Parkwalk’s investment and support will enable adsilico to offer a scalable solution to the medical device market to produce evidence on an unprecedented scale"
Alejandro Frangi
Founder and Chief Scientific Officer at adsilico
Investor perspective
"Computational modelling has the potential to revolutionise the MedTech industry and reduce the risks to humans. Northern Gritstone is delighted to support adsilico’s team, who once again demonstrate that great science and technology-enabled businesses are being created in the North of England."
Duncan Johnson
CEO, Northern Gritstone
Use of funds
- 01Continue product development
- 02Grow the team
Investors
Categories
About the company
adsilico
Adsilico builds virtual patient populations for medical device testing.