Manchester, UK – Medtech start-up Gendius has kicked off its latest funding round on leading crowdfunding platform, Crowdcube. The initial Crowdcube campaign is the start of a £5.8 million investment round, which will open up to investors outside Crowdcube in July 2020.
This funding round will be used to accelerate the commercialisation of Gendius’ market-leading smart diabetes management platform, Intellin®, which to date has been downloaded over 195,000 times in more than 170 countries. This accelerated commercialisation will include a planned series of app upgrades, the further development of its AI technology based on clinical data, and the signing of multiple B2B deals with Pharma, insurance and healthcare institutions, as well as development of new management apps for young adults and gestational diabetes.
The Intellin® platform is currently being tested across a number of NHS CCGs in the UK, and Gendius is also in advanced discussions with AstraZeneca about integrating Intellin® into its educational platform, initially across one region.
Intellin® is the fastest-growing diabetes management app worldwide and it has seen particularly rapid growth since the outbreak of Covid-19, averaging more than 10,000 downloads a week in May 2020. Effective remote diabetes management is increasingly vital for people with diabetes during the Covid-19 outbreak. Almost one in three Covid-19 patients who have died in hospital in England have also had diabetes[i].
The Intellin® platform offers high-level, sophisticated analytics to allow people with diabetes to track and manage their condition more effectively. Using its unique algorithm, Intellin® assesses users’ comprehensive healthcare information, and highlights where users are at risk of developing diabetes complications.
Intellin® uses this data to provide tailored, medically approved educational content to help patients manage their diabetes and reduce the likelihood of developing serious complications. Users can connect the Intellin app to over 150 different apps and medical and wellness devices, from Fitbit and Garmin devices, to more specialist blood glucose monitors, blood pressure cuffs and continuous glucose monitors (CGM), allowing for accurate, easy, best-in-class remote monitoring.
There are currently 3.5 million people with diabetes in the UK, and 10% of the global population has diabetes[ii]. Diabetes is estimated to cost the NHS £10 billion every year, and identifying and treating diabetes complications early has been highlighted as a key way of reducing the cost pressure on the NHS, as well as improving outcomes for patients[iii]. Diabetes is the leading cause of blindness, kidney failure, lower limb amputation, and significantly increases the risk of having a heart attack or stroke[iv]. Good diabetes control and an active, healthy lifestyle are widely acknowledged as key to reducing the incidence of complications[v].
Gendius is a healthcare technology company based in Greater Manchester. It has developed a platform called Intellin®, which uses an algorithm to help diabetes patients to understand their risk of complications and how to manage them.
The Company raised over £500k in just 48 hours through a Crowdcube campaign in 2019, and is a member of the GM Future Healthcare accelerator.