University of Leeds spinout adsilico, which uses computer modelling and simulation to monitor medical devices’ performance prior to human trials, has won £3.5m seed funding from Northern Gritstone and Parkwalk Advisors.
The funding – £2m from Northern Gritstone and £1.5m from Parkwalk – will be used to fund essential development and build adsilico’s team.
Founder Professor Alejandro Frangi said: “Medical devices follow a lengthy evaluation with a tiny amount of scientific evidence currently derived from computer modelling and simulation. The cost is ever-increasing, delaying lifesaving benefits to patients.
“Northern Gritstone’s and Parkwalk’s investment and support will enable adsilico to offer a scalable solution to the medical device market to produce evidence on an unprecedented scale.”
Duncan Johnson, chief executive of Northern Gritstone, added: “Computational modelling has the potential to revolutionise the MedTech industry and reduce the risks to humans. Northern Gritstone is delighted to support adsilico’s team, who once again demonstrate that great science and technology-enabled businesses are being created in the North of England.”
