Digital health platform Vinehealth raises $5.5m
Vinehealth¸ a digital health platform that aims to improve the quality of life and outcomes of cancer patients, has raised $5.5 million in seed funding in a round led by Talis Capital, with participation from previous investors Playfair Capital and Ascension.
A number of angels also participated, including Keith Gibbs, former chief executive of AXA PPP Healthcare; Pam Garside, partner at Newhealth; Voyagers Health-Tech Fund, led by David Rowan, founding editor of Wired; David Giampaolo, healthcare entrepreneur and founder of PI Capital; Deepali Nangia, venture partner at Speedinvest and Atomico Angel; Faisal Mehmud, vice-president and former medical director of Bristol Myers Squibb; and KHP, a collaboration between King’s College London, King’s College Hospital NHS Foundation Trust and Guy’s and St Thomas’ NHS Trust.
The company said it will use the funding to develop its product further, scale its team and expand in the US.
Founded in 2018 by Rayna Patel and Georgina Kirby, Vinehealth provides patient support programmes and collects rich data. Using Vinehealth’s app, patients can self-manage their medications, side-effects and symptoms, and can regularly enter ‘patient-reported outcome’ data to support clinical decision-making, inform service delivery and drive clinical research. This data is also useful to pharmaceutical companies, insurers and hospitals.
The funding follows a number of grants secured by the company, including a £1 million grant from Innovate UK’s Biomedical Catalyst, which saw Vinehealth deliver its product to eight NHS trusts in a randomised control trial.
Patel, chief executive of Vinehealth, said: “It’s imperative that we start understanding how therapies are affecting patients: for pharmaceutical companies, our technology enables deeper patient understanding which leads to better drugs, greater differentiation and faster licensing, as well as the ability to provide personalised scalable support to patients. For patients, this means better care and improved outcomes from cancer. We’re now looking forward to applying our rich data and machine learning capabilities to novel predictive analytics to generate even richer insights for our life science partners.”
Beatrice Aliprandi, principal at Talis Capital, added: “We’d been keeping a close eye on Vinehealth’s growth for several months before we invested in the company, given its unique value proposition where healthcare outcomes work in direct correlation with financial outcomes. It’s a win-win-win for patients, hospitals and pharmaceutical companies, which is rarely the case in the healthcare space where parties are often at odds with one another.
Mehmud said: “The Vinehealth platform’s ability to efficiently support precision patient activation in an automated manner; rapidly amalgamate rich high-volume frequent patient data; use AI to identify clinically relevant patterns that can serve as important patient interventions – combined with an industry-leading interface and user acceptability – will, I believe, make Vinehealth’s tool the benchmark against which other platforms will be measured in the future.”
Date published: December 6, 2021