London-based Entia, a healthtech company that claims to transform cancer care to improve the everyday lives of patients undergoing cancer treatment, announced on Wednesday, July 26, that it has secured £16M (nearly €18.61M) in a Series A round of funding.
Entia says it will use the funds to fund its flagship product, Liberty – a complete remote patient monitoring solution for those receiving cancer treatment – across the UK and the US.
Investors in this round
Joanna Smart, portfolio lead at BGF, says, “We have been consistently impressed by the commitment and enthusiasm of the Entia team to significantly improve remote monitoring solutions for cancer patients.”
“This combined with their scientific acumen has created a uniquely user-friendly means of monitoring vital health information with the dual power to transform the quality of life and drive efficiencies for healthcare providers,” adds Smart.
BGF has invested over £3.5B in more than 500 companies, making it one of the largest and most experienced growth capital investors in the UK and Ireland.
Neil Cameron, Investment Director at Parkwalk, says “Our investment in Entia offers a profound opportunity to positively impact the lives of people with cancer. Cancer patient numbers are increasing and we need to embed and capitalise on innovative technologies to ensure our healthcare systems have the resources and capacity to give everyone that needs it the best chance of beating this terrible disease.”
Parkwalk claims to be the largest growth EIS fund manager that backs “world-changing” technologies from leading UK universities and research institutions. It has £500M in assets and has invested in over 160 companies across sectors including life sciences, AI, quantum computing, advanced materials, genomics, cleantech, future of mobility, medtech, and big data.
Transforming cancer care
Founded in 2014 by Dr Toby Basey-Fisher, Entia aims to make life better for people receiving cancer treatment.
The company has integrated at-home blood testing technologies and digital tools to give tailored insights into cancer patients’ treatment experiences.
Entia’s flagship, Liberty, aims to ease the burden of hospital out-patient appointments for patients and healthcare providers. By providing real-time insights, the solution helps keep treatments on track and alerts healthcare providers to potential complications before they impact a patient’s quality of life.
The company’s offering includes symptom and vitals tracking, along with full blood count analysis that monitors neutropenia, a common and costly side effect of cancer treatment.
Dr Toby Basey-Fisher says, “Providing more care for people outside of hospital is not only beneficial for patients but is highly advantageous for healthcare providers.”
“Such an approach allows us to move routine health assessments out of healthcare centres and also drives a more preventative model of healthcare where problems are identified and addressed early on.”
“This is about enhancing patient care by keeping people on treatment longer, reducing unplanned hospitalisations and ultimately improving survival outcomes,” adds Basey-Fisher.