London-based medtech startup Entia, which recently entered a commercial partnership with Pfizer UK, has raised around £8.8 million ($12 million) in a funding round, which will be used for the launch of its virtual oncology solution, Entia Liberty.
Entia Liberty enables patients to perform blood tests at home, with remote healthcare teams monitoring the results to manage the haematological toxicity of the patient’s cancer treatment.
The funding round was led by growth fund BGF, alongside the business’ existing seed investors. The funding follows a previous $13 million fundraising, which included investment from Innovate UK through its Biomedical Catalyst scheme.
Entia’s commercial partnership with Pfizer UK is designed to fast-track the development of Entia’s home blood monitoring service for metastatic breast cancer patients, in order to make it available for UK patients in 2022.
Entia Founder and CEO Dr Toby Basey-Fisher commented: “Our approach at Entia is to empower patients with greater freedom whilst also equipping healthcare professionals with the insights to make more informed and personalised clinical decisions. This funding will enable us to put Liberty in the hands of patients and prepare to meet growing international demand for our solution”.
BGF investor Zahir Kasmani added: “We’re delighted to be making another investment in the UK’s pioneering and thriving healthcare sector, having recently broken the £100 million investment figure in life sciences businesses.”
“Toby and the team have built a fantastic business with technology that is proven and already performing well in the market, providing efficient and accessible solutions for problems facing patients, clinicians, healthcare providers and insurers. Their ambition for future growth is really amazing and we’re excited to be part of the journey.”