London and US-based startup Lindus Health has completed a €16.5 million Series A round to scale up and continue its mission of running innovative and radically faster end-to-end clinical trials for a range of conditions including depression, diabetes and insomnia.
The funding comes from Spotify-backer Creandum, with participation from PayPal co-founder Peter Thiel and returning investors firstminute, Seedcamp, Hambro Perks and Amino Collective. With this latest funding round, Lindus Health will be expanding its technology platform to deliver more end-to-end clinical trials and higher quality data to research sponsors.
Lead investor Creandum boasts an impressive portfolio of well-known companies, including Bolt, Klarna, Spotify, Depop, Tide, Trade Republic and Pleo. Creandum General Partner Fredrik Cassel, previously on the board at Spotify, will join the Lindus Health board. Meanwhile Peter Thiel was a co-founder of Paypal, Palantir and the first outside investor in Facebook.
Michael Young, Co-Founder of Lindus Health, said: “Clinical trials are the biggest bottleneck to improving human health. We deliver clinical trials three times faster than the industry standard, working with biotech pioneers to get new treatments to patients more quickly. Through this latest raise, we will be further investing in our technology platform so that we can deliver clinical trials in completely new ways.”
In an industry-first, Lindus Health utilises its technology platform and machine learning to execute clinical trials from start to finish, helping treatments to reach patients more quickly to improve and extend the lives of those living with chronic illnesses. Having already delivered more than 80 clinical trials across the US, UK and Europe, Lindus Health is next launching trials for treatments for menopause, tinnitus, insomnia and childhood myopia.
Founded in 2021 by Michael Young and Meri Beckwith, Lindus Health has already worked with 20,000 patients to find new treatments for chronic conditions and improve lives. Lindus now has a team of 40 from companies including Meta, Google, Oxford University and Optum Health, working across the US, UK and EU.
Fredrik Cassel, General Partner at Creandum, commented: “When we first met Michael, Meri and the rest of the Lindus Health team, we knew their approach to disrupting the clinical trials industry would be the right one. With a tech-first, AI-powered, end-to-end offering, Lindus Health is building unparalleled efficiency and quality into what has always been a manual process. We were blown away by the work Lindus is already doing across the US, UK and Europe with stellar customer feedback and references. The potential Lindus has on improving the world’s health is vast and we are excited to join them on this journey.”
Read the orginal article: https://www.eu-startups.com/2023/08/london-based-lindus-health-secures-e16-5-million-series-a-to-speed-up-clinical-trials-with-machine-learning/
