Closed Loop Medicine secures £2.1 million Seed investment from IQ Capital and others

New funding secured from leading venture capital investors and Cambridge Angels


London, 9th May 2019: Closed Loop Medicine (CLM), the Cambridge-based health tech startup that helps doctors and healthcare providers to deliver personalised treatment regimens has raised £2.1 million in venture capital funding, raised from Longwall Venture Partners, IQ Capital and Martlet, the investment arm of the Marshall of Cambridge group. Several leading Cambridge Angel investors took part in the financing, including the well-known serial entrepreneur, Sherry Coutu CBE.

Closed Loop Medicine is a new breed of therapeutics company that combines proven drug treatments with digital therapeutics. Digital therapeutics deliver evidence-based therapeutic interventions to patients that are driven by high quality software programs to prevent, manage, or treat a medical disorder or disease. Even in countries with the most advanced healthcare systems, few providers deliver truly personalised care. This is because current models of care do not have the ability to deliver fully integrated treatment underpinned by cutting-edge technology. The Closed Loop Medicine approach uses data and insights about how a patient is responding to treatment to tailor drug and non-drug therapy, which provides a much faster way of getting an individual to their optimum outcome.

Dr Hakim Yadi OBE, CEO and Co-Founder of Closed Loop Medicine, said: “Having been in stealth mode for several years, this latest fund raising marks a significant milestone for the business and its founders. As well as securing venture capital funding from experienced investors in deep tech and life sciences, we have been able to establish corporate partnerships with international Pharma companies and the NHS, we have also hired a senior management team that represents the very best in talent across healthcare and technology.”

The funding will support the development of a drug + digital approach to treat and manage major health conditions our society faces, starting with sleep disturbance and hypertension. The company intends to develop fully regulated, evidence-based Drug + Digital solutions for the NHS and international healthcare providers.”

CLM was founded in 2017 and first secured seed funding from several angel investors via the Cambridge Angel Network. In 2018 the company raised further funding from Longwall Venture Partners and Cambridge Angels. In this latest round Cambridge Angels and Longwall Venture Partners were joined by IQ Capital. The company was founded by Dr Paul Goldsmith, Dr Hakim Yadi OBE, Dr David Cox and Dr Felicity Sartain.

Dr Yadi OBE joined from the Northern Health Science Alliance Ltd, where he was chief executive, and in March this year joined CLM full-time. Dr Andy Richards CBE is the CLM’s Chairman. He is also Director of Ieso Digital Health, chairman of Arecor, Congenica, Abcodia, and the Babraham Research Campus.

This most recent funding round has enabled the company to take offices in London, invest in technical product development, start clinical development and clinical trials as well as invest further in drug development. The funding has also been used to recruit the current management team, as well as support building out the CLM tech team.

Dr Rebecca Todd, Investment Director, specialist health and life sciences investor at Longwall Venture Partners, said: “Closed Loop Medicine has brought together a world-class team of experienced and passionate healthcare professionals with the goal of delivering a step-change in how we do medicine in the 21st century. Their unique approach for providing personalised precision medicine by combining drug with digital to create individualised treatment regimens will be applicable across a wide range of clinical areas and has the potential to transform the way we treat patients and manage illness”.

Ed Stacey, partner at deep-tech fund, IQ Capital, said: “The management team at CLM have hugely impressive credentials and now bring this experience to one of the most cutting-edge innovations in digital therapeutics. We are really excited by the huge steps forward the team is making in this field – watch this space. IQ Capital has invested in several companies that leverage the technology including Biobeats, Neurovalens, and now CLM”.


About Closed Loop Medicine

Closed Loop Medicine is a Cambridge-based therapeutics company focused on care pathways, outcomes and the provision of dynamic personalised regimens. CLM has a development pipeline that integrates Drug + Digital+ Device for the treatment of some of the biggest challenges facing global health systems. For now, CLM is working on treating sleep disorders and hypertension but in the future will be working on other health problems.

By focusing on individual care pathways, CLM can augment proven drugs with digital therapeutics enabling the digitisation and data capture of an entire care continuum for dynamic personalised regimens. Digital therapeutics deliver evidence-based therapeutic interventions to patients that are driven by high quality software programs to prevent, manage, or treat a medical disorder or disease.

The founders of CLM have a track record of working together and between them have launched many highly successful commercial enterprises including drugs, digital health, diagnostics and devices. The team has full experience of technology development through to market access, reimbursement and uptake.

CLM was founded in 2017. Its HQ is in London, UK.

About IQ Capital

IQ Capital is a Cambridge-based venture capital firm that invests in UK ‘deep-tech’ across sectors including machine learning, AI, engineering and materials, and data-focused propositions based on disruptive algorithms. All of the firm’s portfolio companies are capable of dominating their respective markets on a global scale. The team typically invest at seed and series A stage, with significant capital reserved to scale companies through their growth stages. Initial investments range from £300k to £5m, with capacity for follow on investment up to £10m.


 For more information, please contact Dr Yadi at info@closedloopmedicine.com or on +44 20 3457 0524

HealthTech company Neurovalens raises £4.6 million Series A investment led by Wharton Asset Management

Belfast-based health tech company, Neurovalens, has secured one of the largest ever Series A investments generated by a Northern Irish technology company.

The company specialises in using neuroscience to solve everyday health issues.

The £4.6 million raise was led by London-based Wharton Asset Management along with Cambridge based IQ Capital. The round was also supported by Techstart Ventures, through its Invest NI-backed fund, The UU Fund, Co-Fund NI managed by Clarendon Fund Management, Beltrae Partners and the Angel CoFund.

Led by Dr Jason McKeown, Neurovalens is renowned for the development of Modius, an innovative headset which non-invasively stimulates the area of the brain associated with appetite and cravings.

The investment will allow for further medical trials in the areas of obesity and type 2 diabetes and will also support the company’s wider research into issues such as insomnia, mental health and epilepsy.

“We are delighted to receive this latest wave of funding, it will enable us to continue to lead the way in developing non-invasive neuro-stimulation technology and will propel our work to a whole new level,” said Dr Jason McKeown, CEO of Neurovalens.

“Modius has been an incredible success story since its launch in 2017 and with medical device approval expected within the next 12-18 months, the prospects are extremely exciting.

“With the concept now proven, our immediate focus is on the development of neurological science to tackle ever wider health and lifestyle issues affecting people all over the world. It’s a hugely exciting time for the application of neuroscience and our business.”

Highlighting the significance of the funding round, Jamie Andrews of Techstart Ventures added:

“We are very proud to have been investors in Neurovalens from its earliest days. This round is a huge endorsement of the work of the entire team at Neurovalens. Their ability to bring neuroscience and technology together is not only delivering a lighthouse commercial success story for Northern Ireland but at a global level, is changing lives for the better.”

Also commenting on the raise, Kerry Baldwin, Partner of IQ Capital added:

“IQ Capital is looking forward to supporting the impressive, thought-leading team at Neurovalens as they apply their IP-rich neuro-tech to solve multiple health issues.”