A medtech company that has created a unique digital device to track whether patients are taking their medicine correctly has secured funding from the GMC Life Sciences Fund By Praetura, and through NPIF II – Praetura Equity Finance, which is managed by Praetura Ventures as part of the Northern Powerhouse Investment Fund II.
Manchester-based Pill Connect will use the investment to continue scaling its reusable device, which attaches to the top of standard-sized pill bottles and provides important real-time dispensing data to pharmaceutical companies, including data on when and how many pills have been dispensed.
Using this data, pharmaceutical companies can evaluate the efficacy of drugs in clinical trials more accurately. Research shows that 50% of patients enrolled in trials fail to take trial drugs in line with the guidelines set, leading to drugs taking longer to obtain regulatory approval or failing altogether, with $800k in future drug sales lost each day a trial is delayed.
The Pill Connect device integrates with major clinical trial software as well as with the company’s own companion mobile app, providing patients and those taking part in clinical trials with a dashboard and alerts to manage past and future doses more effectively.
The company is an approved supplier to the leading global contract research organisation that advises pharmaceutical companies on clinical trials and has partnered with global companies Aardex and Aptar, who specialise in drug dispensing technologies and adherence.
Pill Connect’s technology also has the potential to help vulnerable people, including dementia suffers and the elderly, by locking medicine bottles to prevent over dispensing as well as reminding patients of upcoming doses.
The investment will also enable Pill Connect to fulfil current contracts and opportunities in its pipeline, expand its team and deliver its next phase of product enhancements.
James Burnstone, CEO of Pill Connect and inventor of the device, said: “Following a period of intensive development, during which we priortised quality, our customers’ needs and patient outcomes, I am delighted to see Pill Connect move into commercial adoption. Our dispensers are now being used in clinical trials, ensuring that one of the most critical factors – the drug being taken – is now both measurable and can be acted upon during a clinical trial.
“This fundraise, backed by Praetura and our existing investors, will enable us to expand our team in line with our growing pipeline whilst allowing us to refine our next generation cellular dispenser and explore a wealth of new use case opportunities. We’re proud to be solving a global problem for our international customers right here from our base in Manchester.”
Sim Singh-Landa, investment director and head of the GMC Life Sciences Fund By Praetura, said: “Clinical trials depend on participants taking drugs exactly as they were intended. But we know a common problem in clinical trials, particularly in those that are de-centralised, is ensuring patient compliance and adherence. Misusing or misreporting dosages can result in significant and costly impacts such as time delays, over and re-recruitment and even trial failures.
“Pill Connect’s impressive device solves this challenge by providing accurate, real-time dispensing data that will allow clinical trial managers to intervene in non-compliance much earlier while equipping regulators with richer efficacy data. The business is another addition to the region’s thriving life sciences eco-system, which is transforming the world we live in for the better. We’re looking forward to working with James and the team as they continue to grow and drive real change.”
Dr Kath Mackay, Chief Scientific Officer for Bruntwood SciTech, said: “The North West is home to a wealth of inspiring life sciences businesses and Pill Connect is no exception. The company’s focus on medical adherence has far-reaching benefits for the entire healthcare sector, which perfectly aligns with the objectives of the GMC Life Sciences Fund By Praetura, made up of Praetura Ventures, Bruntwood SciTech, the Greater Manchester Combined Authority and Enterprise Cheshire and Warrington.”
Sue Barnard, senior investment manager, British Business Bank: “Pill Connect is another innovative company in the North West at the forefront of medical sciences and digitalisation. This investment from NPIF II will bring transformational change to clinical trials and help the business take its product to the next level. By supporting pioneering solutions like this, we are fostering growth in the region’s life sciences sector and enhancing patient outcomes.”
