52North, a UK med-tech startup focused on oncological advancements, has raised €6 million in a funding round co-led by KHP Ventures and Cedars-Sinai Intellectual Property Co. (CSIP).
The round, which also included contributions from OKG Capital, Cambridge Enterprise Ventures, Cancer Research Horizons, Macmillan Cancer Support, and angel investors like Jonathan Milner and Roland Diggelmann, brings the company’s total funding to €9.5 million. The round also benefited from a €1.4 million grant provided by the National Institute for Health and Care Research (NIHR).
According to 52North, this funding marks the first time leading hospital venture funds from the UK and the US have co-led an investment.
Umaima Ahmad, CEO of 52North, highlighted the significance of this funding round: “This round represents a significant leap forward for 52North. With support from both UK and US healthcare leaders, we can expand our product pipeline 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.”
At the core of the startup’s offerings is Neutrocheck®, a point-of-care device and app designed to monitor patients undergoing chemotherapy for the risk of neutropenia or neutropenic sepsis, complications that can become life-threatening.
Funds from this round will drive 52North’s efforts to bring Neutrocheck® to market, expand its product pipeline, and strengthen the company’s Aster™ platform. This platform aims to deliver cost-effective remote cell monitoring solutions and leverage collaborations with pharmaceutical partners. Additionally, the funding supports the rollout of ACORN™, an AI-powered platform developed with NIHR support to enhance the safety of acute oncology care delivery.
Tim Irish, Chair of KHP Ventures, remarked: “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.”
Further emphasising the collaborative vision, Nirdesh Gupta, Managing Partner at CSIP, added: “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.”
Read the orginal article: https://www.eu-startups.com/2024/12/cambridge-based-52north-secures-e5-7-million-funding-to-advance-oncology-focused-innovations/
