BioCorteX, a London, UK-based digital medicine company that employs a first-principle computer simulation to understand drug-bacteria interactions and improve a person’s response to treatments, raised $5m in seed funding.
The round was led by Sofinnova Partners, and Hoxton Ventures. In conjunction with the funding, Edward Kliphuis, Partner at Sofinnova Partners, and Hussein Kanji, Partner, Hoxton Ventures, join the BioCorteX Board of Directors.
The funds will be used to further develop the company’s Carbon Mirror platform, which combines physics, chemistry and cutting-edge computational techniques, a melding of computer engineering, clinical insights and biology often referred to as “techbio.”
According to Dr. Nik Sharma, CEO and Co-Founder of BioCorteX, “the relationship between the microbiome and its host is complex and yet a difficult subject that demands an altogether new approach.” “In order to provide people with diseases confidence in the outcome, our technology works as a doctor to create treatments that turn someone who doesn’t respond into someone who does. It’s great to have Sofinnova Partners and Hoxton Ventures on board as investors since they have a special grasp of our technology and the nuances of the business, which makes them the perfect partners.”
Hussein Kanji, Partner, Hoxton Ventures said that BioCorteX is “looking at the microbiome in a new way, utilising maths to tackle very tough health conditions.” “Anything from the creation of new and improved pharmaceuticals to a person’s health outcome could be impacted by technology. We are thrilled to accompany them on their journey as a partner.”
BioCorteX is a digital medicine company that has developed a “techbio” platform to model the complex interactions between the microbiome, host, and treatment, ultimately helping clinicians personalize treatment. The company’s flagship product, Carbon Mirror™, uses technology incorporating principles of physics and chemistry to create in-silico simulations with high fidelity, to assess and predict an individual’s response to treatment based on their microbiome profile. This will ultimately enable a new paradigm of personalized care, bringing benefits to people living with diseases in treatment decisions, pharma companies in clinical trial designs, and ultimately to payers by ensuring a patient receives the most relevant and effective therapy available.
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future.
Founded in 1972, Sofinnova Partners is a deeply established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners has over €2.5 billion under management. For more information, please visit: sofinnovapartners.com.
Hoxton Ventures is an early stage venture capital firm based in London and investing in European technology startups that can scale into large, global winners. It focuses on startups that either disrupt existing industries or invent entirely new market categories. It was the first institutional investor in Babylon Health, Darktrace and Deliveroo, and its portfolio companies have grown to an aggregate value of over $25 billion. Hoxton typically invests between $500,000 and $5 million into pre-seed and seed stage companies, and follows its capital through the life of the company. For more information, please visit www.hoxtonventures.com.