Adsilico, a University of Leeds spinout, has successfully raised £3.5 million in funding to advance its innovative AI-powered system for testing medical devices. This significant investment underscores the potential of Adsilico’s technology to transform the medical device industry by streamlining the testing process, reducing costs, and eliminating the need for animal testing.
Adsilico to Reshape medical device testing
Founded in 2022 and emerging from groundbreaking research at the West Yorkshire University, Adsilico has pioneered an in-silico trial (IST) method that leverages modeling and simulation to forecast the performance of medical devices before they undergo human clinical tests. This method combines various data sources and employs generative AI to create synthetic populations, tailored to the requirements of clinical environments. Such an approach not only accelerates research and development timelines but also offers a scalable solution to produce evidence on an unprecedented scale, potentially revolutionizing the way medical devices are tested and brought to market.
Strategic investment for future growth
The £3.5 million investment was provided by Northern Gritstone and Parkwalk Advisors, both of which recognize the transformative potential of computational modelling in the MedTech industry. This funding will enable Adsilico to expand its capabilities and reach within the medical device market, offering a more efficient, cost-effective, and ethical alternative to traditional testing methods. The investment is a testament to the quality of science and technology businesses being nurtured in the North of England and marks a significant milestone for Adsilico in its mission to redefine medical device testing.
Impact on the MedTech industry
The MedTech industry faces increasing costs and lengthy evaluation processes for new devices, with a small fraction of scientific evidence currently derived from computer modelling and simulation. Adsilico’s IST technique addresses these challenges head-on, promising to reduce risks to humans, lower costs, and speed up the delivery of lifesaving benefits to patients. As the medical device market continues to evolve, Adsilico’s innovative approach could set a new standard for device testing, with far-reaching implications for patient care and industry practices.
A vision for the future
The support from Northern Gritstone and Parkwalk Advisors not only provides the financial backing Adsilico needs to grow but also validates the company’s vision and technology. With this investment, Adsilico is well-positioned to lead the charge in transforming medical device testing, making it safer, faster, and more cost-effective. The future of MedTech looks promising, with Adsilico at the forefront of this exciting evolution.
In conclusion, Adsilico’s recent funding marks a pivotal moment in the advancement of medical device testing. By harnessing AI and computational modelling, the company is set to offer groundbreaking solutions that could significantly impact the MedTech industry. This development not only highlights the innovative work being done in the North of England but also paves the way for a new era of medical research and development that prioritizes efficiency, safety, and ethical considerations.
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