Pill Connect secures new funding from Praetura Ventures to scale its medical adherence technology.
The Manchester medtech company raised backing from the GMC Life Sciences Fund and NPIF II to expand its team and fulfill commercial contracts.
Manchester medtech business that has developed a digital tracking device to monitor medication adherence in clinical trials. The reusable technology attaches to standard pill bottles to supply real-time dispensing data to pharmaceutical companies.
Pill Connect has secured fresh investment from the GMC Life Sciences Fund By Praetura and NPIF II, Praetura Equity Finance, operated by Praetura Ventures under the Northern Powerhouse Investment Fund II. The Manchester medtech enterprise will use the proceeds to fulfill existing commercial contracts, expand its headcount, and deliver subsequent product enhancements.
The funding arrives as the company transitions into commercial adoption for its reusable dispensing technology, which attaches to standard pill bottles to provide real-time compliance metrics. By addressing issues surrounding patient adherence in clinical trials, the business aims to help pharmaceutical developers reduce delays and secure regulatory approvals more efficiently.
From the founder
"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."
James Burnstone
CEO at Pill Connect
Investor perspective
"Clinical trials depend on participants taking drugs exactly as they were intended. But we know a common problem in clinical trials, particularly in those that are de-centralised, is ensuring patient compliance and adherence. Misusing or misreporting dosages can result in significant and costly impacts such as time delays, over and re-recruitment and even trial failures."
Sim Singh-Landa
head of the GMC Life Sciences Fund By Praetura, GMC Life Sciences Fund By Praetura
Use of funds
- 01Grow the team
- 02Continue product development
- 03Scale operations
Investors
Categories
About the company
Pill Connect
Pill Connect builds digital tracking devices to monitor medication adherence in clinical trials.