Qureight raises $8.5m in Series A funding led by Hargreave Hale AIM VCT to develop drugs for lung and heart diseases.
Hargreave Hale AIM VCT led the financing round to help accelerate the company platform and expand into new disease areas.
Cambridge-based Qureight builds artificial intelligence tools to support pharmaceutical companies running clinical trials for respiratory and cardiovascular diseases.
Qureight has secured $8.5m in an oversubscribed Series A funding round to advance its AI-driven product portfolio and expand into new therapeutic areas such as lung cancer. Hargreave Hale AIM VCT led the financing, with additional participation from XTX Ventures, Guinness Ventures, and existing backers including Playfair Capital, Meltwind, Ascension Life Fund, and Cambridge Angels.
The company provides a digital infrastructure platform that centralises and structures complex medical data from patient scans and records. This technology aims to streamline clinical trial imaging analysis and assist researchers in designing more efficient drug trials.
Alongside the funding announcement, Qureight has appointed Dr Debra Barker and Jenny Winter to its board of directors, while Dr Simon Walsh joins the firm as chief scientific officer.
From the founder
"The close of our Series A round marks the 'end of the beginning' and the start of a new chapter for Qureight, as we turn our focus to developing our platform and creating products in new disease areas. Our mission to extend the lives of lung and heart disease patients will be bolstered by the invaluable expertise of our new board and new senior team members, and we are looking forward to adding to our strategic biopharma collaborations."
Muhunthan Thillai
Co-founder and CEO at Qureight
Investor perspective
"Hargreave Hale AIM VCT has a long tradition of investing in innovative, high growth companies, and the application of AI in life sciences is a particular area of interest. Through the investment process, the team at Qureight has impressed us with their vision and expertise. We are delighted to be the lead investor on this funding round and look forward to supporting Qureight as the company expands its capability."
Lucy Bloomfield
co-manager, Hargreave Hale AIM VCT
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Lucy Bloomfield
Hargreave Hale AIM VCT
Gabriele Papievyte
XTX Ventures
Malcolm King
Guinness Ventures
Chris Smith
Playfair
Meltwind
Ascension Life Fund
Cambridge Angels
