Funding success for digital health start-up
Digital health start-up Gendius has completed a series A funding round to launch an app-based platform to help people living with diabetes better manage their condition.
The Cheshire-based company secured the undisclosed investment from the GM&C Life Sciences Fund, which is managed by Catapult Ventures.
Founded by Chris Genders and Rory Cameron to make living with diabetes easier, Gendius uses technology to measure and improve outcomes for patients with chronic diseases.
The company has developed Intellin, an app platform that uses an individual’s clinical history to predict those areas most likely of developing complications from their diabetes. It then focuses the individual on clinically-validated tasks and measures to slow their progression in these areas.
The Intellin platform is currently undergoing clinical trials and has won significant grant funding from both Innovate UK and the SBRI.
In addition to the investment, Catapult Ventures' digital health advisor Chris Spencer will join the board of Gendius as non-executive chairman in early 2018. Until April 2017, Spencer was CEO of EMIS Group where he had held senior roles since 1999.
“Chris' wide-ranging experience in the leadership and management of healthcare technology businesses will be extremely valuable to Gendius as we seek to further enhance and commercialise our digital applications for diabetes and grow Gendius as a leader in this area,” chief executive Chris Genders said.
Spencer added: “I am looking forward to working with Chris, Rory, and the team to fulfil the potential of their application to improve clinical outcomes in this area of high patient need and payer/provider cost."
The economic cost of treating diabetes in 2014 is estimated at more than $600 billion and the latest WHO report predicts there will be 592 million sufferers around the world by 2035.