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Bayer Invests in UK Health Tech Firm Medopad

AI start-up Medopad, a crucial Health tech partner of Tencent has received $25m (£19.3m) as Series-B funding from German Pharmaceutical giant Bayer.

Apart from Bayer’s venture capital wing Leaps, Hong Kong-based NWS Holdings, Healthbox, and Chicago VC also were also part of the Series-B rounds. Medopad, as of now, has raised over $50 million. It has also entered into deals with Chinese tech giant Tencent, Ping An, GSK, Johnson & Johnson among others.

Focus on Digital Biomarkers

London-based Medopad has been developing technology for the treatment of Parkinson’s, cancer, and psoriasis. With their technology, patients can cut short the waiting time as their doctors can diagnose issues quickly with the help of wearables and software. Their focus is on efforts to build digital biomarkers to diagnose diseases that are not detected easily by doctors or blood tests. The collected data from patients will be used by Medopad to analyze the progress of diseases. The analysis will help medical fraternity and patients alike. Alzheimer‘s and Diabetes are the other focus areas.

Bayer Invests in UK Health Tech Firm Medopad

 

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AI Engine With Tencent, Cardiac Care With Bayer

Bayer will be working closely with Medopad to build digital biomarkers related to cardiac ailments such as Aortic Stenosis. The start-up’s collaboration with Tencent was in developing an AI engine. China’s population gives the company a canvas to perfect its Machine Learning algorithms.

“We are delighted that Leaps by Bayer who participated in our Series A round have now become the lead investor in our Series B. We have found the ideal partner with the dedication to help us reach our vision of creating a world where each person lives their life to the fullest,” said Dan Vahdat, Founder and Chief Executive Officer of Medopad.

The company is also collaborating with hospitals such as the Royal Free Hospital. Apart from this are governments and certain sports and wellness partners.

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