HealthTech Industry Update

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In the UK, a constant stream of news from the NHS reveals a healthcare service in the process of being rejuvenated. Matt Hancock, Secretary of State for Health, is pushing through basic reforms, and the health service is moving towards early disease detection and prevention, and personalised interventions to improve both the quality of care and patient outcomes.

Barry and the GIANT Health team

HealthTech News

Anti-cancer convoy
Early detection of cancer is high on the NHS agenda, as set out in its Long Term Plan a few weeks ago. It has now announced £70 million will be going to fund ten projects with mobile scanning units to provide screening for people at highest risk of developing lung cancer. 

A pilot project in Manchester increased the detection rate at stage one from 18% to 68%, while reducing detection at stage four from 48% to 11%.
Young people shun doctors
A study conducted by Oxford Economics on behalf of Accenture reveals that Gen Z and Millenials expect technology to play a greater role in healthcare, and that digital capabilities are one of the drivers of choice for younger generations.

Matt Hancock's decisions to ban fax machines in the NHS, and to accelerate the use of email for patient communications will no doubt please them.

Funding news

Burning Rock, China
  • RMB 850 million ($125.5 million)
  • Series C
  • GIC, followed by LYFE Capital, CMB International Capital, Lilly Asia Ventures (LAV), Sequoia Capital China and T&Brothers Capital
The company currently has three core businesses: cancer patient companion diagnostics, early cancer detection, and cancer genome big data ecosystem.

The proceeds will primarily be used for early cancer detection product development and sales and marketing force expansion for the companion diagnostics business.

Opportunities for innovators

Innovate UK - Digital Health Technology Catalyst

In addition to the two biomedical catalyst competitions, Innovate UK has this week opened a competition for collaborative R&D projects to develop new digital health solutions, led by UK-based SMEs. Projects with total costs of £300,000-£1,000,000 or eligible to apply.

UCLPartners - Scaling your innovation

Companies whose product, technology or service is already on the market, can seek advice on scaling their innovations. UCLPartners is looking for companies that already work with the NHS or local authorities, but not with AHSNs or the NHS England Innovation programme. Book a call to determine eligibility. 

Business Funding Show 2019
The Business Funding Show for companies seeking investment takes place on 21 February in East Wintergarden (Canary Wharf). Get a 20% discount with this code: GIANTSpecial.
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