Psyomics secures £1.5m for psychiatric assessment platform
Posted on October 27, 2020 by Alistair Hardaker
University of Cambridge HealthTech spin-out Psyomics has closed a £1.5m funding round to bring its mental health assessment and diagnosis platform to the UK market.
Censeo is designed to mirror the process of a face-to-face psychiatric assessment, guiding a user through a series of adaptive questions and aiding in the triage process.
It said algorithms perform a detailed and bespoke analysis, creating a ‘map’ of an individual’s mental health, providing diagnosis where appropriate.
University spinout specialists Parkwalk led the round, joined by fellow existing investors Jonathan Milner, Martlet, and Cambridge Enterprise.
Built on 20 years of clinical research—including The Delta Trial and feedback from service user groups, GPs, and clinicians—Censeo has been developed as a medical device from the outset and is fully compliant with the Medical Device Directive 93/42 EEC, ISO 13485 and NHS Toolkit.
Co-Founder and Chief Medical Officer Prof. Sabine Bahn said: “Delays in diagnosing—or misdiagnosis—mean that it can take several years for an individual with depression to be correctly diagnosed. For bi-polar disorder the average delay is six to eight years.
“The consequence of this is that many people suffer unnecessarily from debilitating symptoms that could be successfully treated. It is clear that faster and earlier diagnosis followed by the most appropriate treatment will improve the quality of life of affected individuals, while at the same time relieving pressure on the healthcare system”.
CEO and Co-Founder Dan Cowell added: “This funding will enable Psyomics to support the UK’s plans to improve mental health provisions for the nation. Through giving patients, clinicians, and caregivers an earlier and clearer understanding of individual mental health needs, we believe we can make significant improvements in patient experience and clinical capacity, with positive impacts throughout the entire healthcare system. Our investors share our belief in the opportunity to make a genuine impact with Censeo.”