MedTech Entia has raised close to £9 million to launch an at-home blood testing solution for cancer patients.
Entia, which recently announced a commercial partnership with Pfizer UK, is behind the Entia Liberty virtual oncology solution which allows remote healthcare teams to monitor and manage the haematological toxicity of cancer treatment.
More than 50% of systemic anti-cancer therapies cause haematological toxicity, management of which accounts for 8% of all cancer treatment costs and leads to frequent and disruptive healthcare visits for patients.
The funding round was co-led by UK growth capital investor BGF and growth fund manager Parkwalk, with participation from existing seed investor Sussex Place Ventures.
“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,” said founder and CEO Dr Toby Basey-Fisher.
“This funding will enable us to put Liberty in the hands of patients and prepare to meet growing international demand for our solution.”
Zahir Kasmani, investor at BGF, said: “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.”
Since founding the company in 2015, Entia has built partnerships with leading healthcare institutions such as The Christie NHS Foundation Trust, to pioneer the introduction of new remote care solutions.
Its blood analyser allows patients to perform a suite of blood tests in their own home. It is initially launching with the capability to monitor haematological toxicity via a patient’s full blood count.
Results are shared with healthcare professionals via Entia’s cloud network and integration tools. It says this approach creates new insights into how individuals are responding to care and subsequently may enable more personalised decisions to mitigate life-threatening complications.
Prior to this new investment, Entia raised more than $13m to date, including major investment from Innovate UK as part of its Biomedical Catalyst programme.