Farukh Kitchlew | Dec 6, 2023 | 0
Lindus Health Secures $18M Backed by Peter Thiel
The U.K. firm Lindus Health has announced that it has acquired $18 million in its Series A funding. Big-name investors such as Spotify investor Creandum and billionaire entrepreneur Peter Thiel participated in the round. Firstminute Capital, Seedcamp, Hambro Perks and Amino Collective also participated.
Lindus originated from the firsthand observations and frustrations experienced by two of its founders in 2021. Meri Beckwith is a former venture capitalist at Omers Ventures. He has an extensive understanding of objective testing performed on health-tech businesses. As the global pandemic approached in 2020, Beckwith agreed to participate in COVID vaccination research, providing him with direct insights into the clinical trial process. Michael Young, one of Lindus’s co-founders, previously advised Downing Street, aiding the UK Government in life sciences. He focused on drug approvals and NHS rollout, leaving out the actual conduct of clinical trials.
Clinical testing is the foundation of current modern medical research. It acts as the basis for proving or disproving the information and efficacy of new treatments. On the other hand, clinical trials are costly and resource-intensive, often taking years before a drug or device is ready for widespread use.
Lindus Health aims to tackle this issue, marketing itself as a “next-gen statement investigation organization” (CRO). This makes it easier to complete clinical trials. Furthermore, Lindus Health’s main focus is to manage the entire end-to-end clinical trial process, not just isolated solutions. Lindus has created a “protocol generation” tool. It’s now in the proof-of-concept stage, trained on its historical protocols and clinicaltrials.gov data.
Before its Series A round, Lindus had secured approximately $6 million in funding from investors now participating in the same round. Having secured an additional $18 million, Lindus is well-equipped to expand across Europe and North America.