Albion Capital Group has contributed to a £3.7mln fundraising round carried out by health tech startup uMed with UK and Silicon Valley investors.
The platform built by uMed automates the processes used in clinical trials, creating regulatory-quality patient registries that combine electronic health data with structured data captured from each patient.
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By automating the process, it is designed to allow healthcare providers of all sizes, from small GP practices to large hospitals, to participate in multiple research programmes simultaneously without increasing overhead or burdens for drug developers.
Currently, uMed is already delivering its technology to a number of clinical research studies, including the University of Oxford’s RAPTOR study evaluating the use of different COVID-19 rapid diagnostic tools in different community settings, such as GP surgeries.
The uMed platform provides the functionality required to digitally target and engage patients for this study, Albion said, automatically and remotely collating the outcomes of the tests and linking the results back to the data from each patient record, which is said creates the capacity for healthcare providers to participate in many more of these studies than would otherwise be possible.
AlbionVC, the investment manager’s technology investment arm, has been impressed by the potential power of this platform for the life sciences sector.
Christoph Ruedig, partner at AlbionVC, said: “uMed has developed a powerful platform that can link some of the richest sources of healthcare data and drive a step change in how clinical and real-world research is conducted. We have been impressed by the company and its vision, and we are excited to support them as they enter the next stage of growth.”
Alongside AlbionVC, others that participated in the funding round included existing backer Playfair Capital, Delin Ventures and Silicon Valley-based 11.2 Capital.