UK-based data capture software company, uMotif, has raised £5 million in a Series A investment round led by existing investor AlbionVC.
The funding will accelerate uMotif’s growth and enable further development of its patient-centric and decentralised approach to clinical studies and enable expansion into new study types and more high-demand territories.
WHY IT MATTERS
Life sciences companies are increasingly adopting decentralised and virtual study designs where patient consent and data is captured using their own devices from their location.
This is in contrast to the centralised studies in which patients have to go to a site, such as a hospital, to submit their data.
uMotif powers decentralised and patient-centric approaches that increase how engaged patients are, and therefore improving the chances of the study’s success. It also aims to reduce the burden on participants and help reach new patient populations to increase study diversity.
THE LARGER TREND
In June, uMotif raised $3.2 million in a new funding round led by independent investment manager Albion Capital to expand operations, which are currently focused mostly in the United States and Europe, into the Asia-Pacific region.
ON THE RECORD
Bruce Hellman, CEO and co-founder of London-based uMotif said: “We’re excited to help our customers implement patient-centred research designs by using the uMotif platform to capture high-quality data.
“This new funding will rapidly accelerate our development and will ultimately help our customers to get new therapies to patients faster.”
Dr Andrew Elder, deputy managing partner at AlbionVC said: “Now more than ever, having access to reliable patient data during clinical trials is crucial. uMotif’s platform is built with patients in mind; designed to help academics, researchers and healthcare professionals to capture the best quality data in a way that suits the participants. It’s a win-win for all stakeholders and the platform has the potential and momentum to revolutionise the speed and efficiency with which therapies can reach and help millions of patients.”