INDUSTRY INSIDERS AND STRATEGIC INVESTORS BACK BIOS HEALTH
AS IT PULLS AHEAD
Cambridge, UK – 22 June, 2023 – BIOS Health, a pioneer in the development of AI-driven precision medicine for the nervous system, has closed a venture round with leading investors and industry leaders. Founded in 2015 in Cambridge, UK, BIOS Health has built a powerful neural data and AI platform to accelerate the emerging bioelectronic and AI-driven drug discovery industries, and has emerged as a leader in the neurotech space.
Major institutional investors in BIOS include tech-bio pioneers Selvedge Venture; XTX Ventures, who have distinguished themselves as experts at investing in companies with machine learning as a core technology; AI-focused Real Ventures; and Silicon Valley pioneers Fifty Years and Y Combinator (W’17, where the BIOS founders were mentored by Sam Altman).
Global leaders in artificial intelligence, biotech, healthcare and neurotech have also invested in the company including:
Former Chair of the NHS, Lord David Prior
Founder of UK medtech unicorn CMR Surgical, Dr. Mark Slack
Global healthcare and biotech focused hedge funds and other patient capital
A syndicate of current and former senior executives from companies including Genentech, Roche, Boston Scientific, Siemens, Bain and Goldman Sachs
Emil Hewage, CEO and co-founder of BIOS, said,
Investors include techbio fund Selvedge Venture, XTX Ventures, and range of top senior biotech, healthcare and AI leaders
Comes after the NIH’s $21M seminal project REVEAL announcement, including the University of Minnesota, Stanford University and the Mayo Clinic
Going against the broader downturn in traditional VC funding, BIOS will use these funds and revenue growth to build market share at this inflection point
BIOS is privileged to continue to gain backers of extraordinary quality, experience and diversity. Investors are seeing the fundamental value of our technology combined with the once-in-a-generation chance to establish a market leading precision medicine business for an entirely new type of health data - our neurome. With similar potential as the first genome sequencing and editing businesses of the previous cycle, we are excited to be bringing our technology to leading clinicians and commercial partners, and are humbled in our investors’ conviction in BIOS, especially within the context of a volatile market.
CEO AND CO-FOUNDER OF BIOS HEALTH
Alasdair Thong, Partner at Selvedge Venture, said: “The past few years have been a rollercoaster for deeptech, biotechnology and healthcare startups. BIOS very methodically and calmly navigated these uncertain times and has emerged as a solid and growing company with a clear proposition, vision and technical capability. BIOS will, in my view, continue to build and grow as a major platform player in this emerging neurotech landscape.”
Oli Scott, Global Head of Treasury at XTX Markets, said: “With their deep industry knowledge, powerful ML-driven neural interface technology, and unique position in a market which will be key to the future of medicines - we are excited to be partnering with the BIOS team and look forward to supporting them on their journey.”
Lord David Prior, Former Chair of NHS England and angel investor, said: “BIOS reminds me of early genomics pioneers, establishing a foundation for a new ecosystem of precision medicines at scale. BIOS’ neural digital technology has the chance to make data-driven clinical trials cheaper, create better medicines with fewer side effects and alleviate the huge burden of chronic disease for healthcare systems.”
Earlier this year, the NIH and a consortium of major healthcare centers including the University of Minnesota, the Mayo Clinic, and Stanford University chose BIOS’ technology to power for its major project, REVEAL. Taking place in 8 clinics across the globe over 3 years, the new NIH REVEAL program will be the largest ever single clinical study of human neural data. The team behind the study hope it will have a similar impact on the field of medicines for human chronic disease as the Human Genome studies have had on treatments for cancer and rare disease. As core partner, BIOS is providing the software infrastructure for the project, and will be instrumental to its success. This also means BIOS’ technology will be foundational for the next wave of precision medicines – neural digital therapies.
About BIOS Health
BIOS Health uses data-driven insights from the nervous system to build neural digital therapies - the next big trend in precision medicines. The human nervous system carries vast quantities of data, and BIOS’ ability to precisely link nerve activity to specific conditions through the discovery of their neural biomarkers is a game changer for precision medicine. BIOS’ research could hold the key to new treatments for conditions including hypertension, diabetes, rheumatoid arthritis, and even diseases of the brain itself such as Parkinson’s or Alzheimer’s. BIOS is positioned to provide the neural code on which a new generation of treatments can be built that can enable millions of people suffering from chronic diseases to improve their quality of life.
Co-founded by Cambridge University researchers Emil Hewage, a computational neuroscientist, and Oliver Armitage, a biomechanical engineer, BIOS is made up of a wide range of experts from neuroscience, machine learning, software engineering, applied biomaterials, biotechnology and medicine. Advisors include Oxford University Professors David Paterson and Tim Denison, CEO of Candel Therapeutics Paul Peter Tak, and IQVIA VP of Genomic and Precision Medicine Joanne Hackett (Chair of the BIOS Board).