Funding

[Funding alert] Qureight Secures $8.5 Million in Series A Round Funding

Apr 16, 2024 | By Startup Rise EU

Qureight, a biotech company, has raised $8.5 million in a series A fundraising round. Idiopathic pulmonary fibrosis (IPF) and pulmonary hypertension are two examples of complex lung and heart illnesses that currently have low survival rates and few available therapeutic options.

Qureight, a biotech company, has raised $8.5 million in a series A fundraising round. Idiopathic pulmonary fibrosis (IPF) and pulmonary hypertension are two examples of complex lung and heart illnesses that currently have low survival rates and few available therapeutic options.

High-value data from patient scans and records is typically kept in an unstructured format across several platforms and databases. For their research, researchers must manually collect pertinent data from sources, which is an extremely costly and time-consuming operation.

Qureight's digital infrastructure was designed to address this complicated issue; it stores and selects various forms of medical data for thorough examination.

As a complex disease drug trial moves forward, Qureight can obtain CT scans, biomarkers, and other trial endpoints directly from hospitals or clinical research organisations (CROs) in real-time. Qureight has exclusive access to healthcare through data contracts across NHS England. This data has been compiled and organised securely, making it available for analysis.

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New endpoints and medication responses can be identified using the analysis's insights. In order to facilitate the running of AI models and the comparison of disparate data sets, the structured data can also be utilised to create virtual trial patients.

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In the end, this makes it possible to create clinical trials that are more resource-efficient, enhance current illness therapies, and create potent new medications. The cloud-based, vendor-neutral platform has an ISO13485 accreditation to analyse clinical trial data and complies with GDPR, HIPPA, and NHS Digital regulations. Qureight has active research relationships and strategic alliances with AstraZeneca, Vicore Pharma, and multiple NHS Trusts.

Dr Muhunthan Thillai, founder and CEO of Qureight, said: "The close of our Series A round marks the ‘end of the beginning’ and the start of a new chapter for Qureight as we focus on developing our platform and creating products in new disease areas. Our mission to extend the lives of lung and heart disease patients will be bolstered by the invaluable expertise of our new board and new senior team members, and we are looking forward to adding to our strategic biopharma collaborations.”

Leading the round were Hargreave Hale AIM VCT, XTX Ventures, Guinness Ventures, and Playfair Capital, Meltwind, Ascension Life Fund, and Cambridge Angels, among other current investors.

Lucy Bloomfield, co-manager of the Hargreave Hale AIM VCT, commented: “Hargreave Hale AIM VCT has a long tradition of investing in innovative, high-growth companies, and the application of AI in life sciences is a particular area of interest. Through the investment process, the team at Qureight has impressed us with their vision and expertise. We are delighted to be the lead investor in this funding round and look forward to supporting Qureight as the company expands its capability.”

The money will let Qureight broaden its product offering to include more AI-driven products and tackle new illnesses including lung cancer.

About Qureight

Qureight was established in 2018 and has its headquarters in Cambridge, UK. Its initial focus is on data curation and clinical trial imaging analysis for lung and heart diseases.

Located in Cambridge, UK, Qureight is a clinical data analytics business. Their platform enables the realisation of new endpoints in clinical data through collaboration with healthcare organisations, technology businesses, and the pharmaceutical industry.

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