Adsilico, a groundbreaking venture from the University of Leeds, has secured a £3.5 million seed investment towards transforming medical device testing. This infusion of funds, comprising £2 million from Northern Gritstone and £1.5 million from Parkwalk Advisors, marks a pivotal moment for the startup.
Revolutionizing Medical Trials
Adsilico is set to revolutionize the medical trials landscape by enhancing the efficiency and safety of medical devices before they reach human trials.
At the core of Adsilico's innovative approach is the development of a novel in-silico trial (IST) technique. This technique leverages generative AI to amalgamate multiple data sources, creating synthetic populations at a scale ideally suited for clinical trials.
This project originated from research funded by the Royal Academy of Engineering at the University of Leeds’s Schools of Medicine and Computing.
This novel technique promises to significantly accelerate research and development (R&D) processes for medical device manufacturers. By reducing reliance on animal experimentation and augmenting costly human trials, Adsilico aims to deliver safer, more effective medical devices to the market faster.
The startup's unique IST technique allows for the production of scientific evidence regarding device performance and safety through modeling and simulation. This evidence is generated before any human clinical trials, thereby mitigating risks and reducing evaluation times.
A Solution with Unprecedented Scalability
According to Professor Alejandro Frangi, founder of Adsilico, the medical device industry currently relies minimally on computer modeling and simulation. This leads to increased costs and delays in delivering lifesaving technologies to patients. The support from Northern Gritstone and Parkwalk Advisors will enable Adsilico to offer a solution with unprecedented scalability.
The enthusiasm for Adsilico's vision is shared by its investors. Duncan Johnson, CEO of Northern Gritstone, expressed excitement about the potential of computational modeling to revolutionize the MedTech industry and reduce risks to human participants.
“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.”
Moray Wright, CEO of Parkwalk Advisors, praised Adsilico's pioneering approach to in-silico trials, highlighting the company's ability to significantly accelerate innovation in medical device development.
“We are proud to be backing adsilico through this seed funding round. adsilico's pioneering approach to in-silico trials has the potential to significantly accelerate the pace of innovation in medical device development. It's fantastic to see this university spin-out take another step forward on its vision to bring safer and more efficient medical devices.”
An Investment that Underscores the Potential
This investment not only underscores the potential of Adsilico's technology but also highlights the collaborative efforts between academia and the industry. The University of Leeds, particularly its deputy vice-chancellor of Research and Innovation, Prof Nick Plant, emphasized the funding's role in redefining medical device development.
If Adsilico succeeds in its goals, Leeds will pave the way in driving innovation in and accelerating the adoption of new health technologies.
