NEW YORK – British point-of-care firm 52North said Wednesday that it has closed a $6 million funding round co-led by hospital ventures funds from both the US and UK.
KHP Ventures, affiliated with London-based King's Health Partners, and Cedars-Sinai Intellectual Property, affiliated with Los Angeles-based Cedars-Sinai Medical Center, co-led the financing round, which also included contributions from OKG Capital, Cambridge Enterprise Ventures, Cancer Research Horizons, Macmillan Cancer Support, and selected angel investors like former Roche Diagnostics CEO Roland Diggelmann.
The funding will be used to help 52North advance its products, including the point-of-care device Neutrocheck, toward commercialization, the Cambridge, UK-based company said in a statement. Neutrocheck was granted breakthrough status by the UK government earlier this year under its pilot Innovative Devices Access Pathway. The device is intended for use by patients with cancer to monitor their risk of neutropenia or neutropenic sepsis, a complication of chemotherapy.
The company will also use the financing to develop products through its Aster platform for remotely measuring cells and to support the rollout of its Acorn platform, an artificial intelligence-based system for delivery of acute oncology care.
"With support from both UK and US healthcare leaders, we can expand our product pipeline working with major strategic partners, and appropriately leverage the latest tools including AI to reshape urgent care pathways for patients worldwide," 52North CEO Umaima Ahmad said in a statement.