On Wednesday, Cambridge, UK-based 52North, the medtech company focused on transforming urgent care pathways in oncology, announced that it has secured $6M (approximately €5.7M) in a funding round.
The funding round was co-led by KHP Ventures, affiliated with King’s Health Partners in London, and Cedars-Sinai Intellectual Property Co. in California, affiliated with Cedars-Sinai Medical Center.
Additionally, the company received a $1.5M grant from the National Institute for Health and Care Research (NIHR).
The company will use the funds to advance its products to market, including the flagship Neutrocheck, which was granted breakthrough status by the UK Government under its pilot Innovative Devices Access Pathway earlier this year.
The funding will help advance products using the Aster platform, which measures cells remotely and affordably. This includes working with key pharmaceutical partners.
It will also support 52North’s launch of ACORN, an AI-based platform funded by the National Institute for Health Research (NIHR), designed to improve the safety of acute oncology care.
Umaima Ahmad, CEO of 52North, states, “This round represents a significant leap forward for 52North. With support from both UK and US healthcare leaders, we can expand our product pipeline by working with major strategic partners, and appropriately leverage the latest tools, including AI, to reshape urgent care pathways for patients worldwide. The commitment from both KHP Ventures and Cedars-Sinai exemplifies the belief in our vision and the value of our solutions.”
52North: Oncology-focused medtech
Founded in 2018 by a multidisciplinary team of University of Cambridge postgraduates, 52North works on low-cost products to streamline urgent care pathways and enhance patient safety across all socio-economic groups.
The company’s product, Neutrocheck, is a point-of-care device and app that monitors patients undergoing chemotherapy for the risk of neutropenia or neutropenic sepsis, which are complications that can be life-threatening.
David Lawson, Director of Medical Technology and Innovation at the Department of Health and Social Care in the UK Government, adds, “Through initiatives such as the Innovative Device Access Pathway (IDAP), the UK’s Medical Technology Strategy is focused on enabling novel technologies to improve the lives of patients, whilst supporting the growth of high-potential UK companies. The growth of companies such as 52North is a prime example of this.”
The investor
KHP Ventures is a collaboration between King’s College London, King’s College Hospital NHS Foundation Trust, and Guy’s and St Thomas’ Hospital NHS Foundation Trust. It is the first NHS-backed venture fund in the UK.
Tim Irish, Chair of KHP Ventures, adds, “Our partnership with Cedars-Sinai reflects our shared mission to invest in and support companies that have the potential to revolutionise healthcare delivery on a global scale. We are proud to continue backing 52North as they continue to develop solutions that empower both patients and clinicians.”
Cedars-Sinai is a nonprofit academic healthcare organisation serving the diverse Los Angeles community and beyond.
Nirdesh Gupta, Managing Partner of CSIP, comments, “Cedars-Sinai is dedicated to advancing technologies that improve patient care and drive transformative solutions across healthcare. 52North’s commitment to innovating in oncology care is inspiring, and we are thrilled to support their journey alongside KHP Ventures.”
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