Pioneer Group’s Accelerator Programme allows our experts to identify the potential of innovative entrepreneurial life sciences ventures at an early stage.
This month, we’ve seen two graduates from the programme successfully secure almost £20m in Series A funding.
This is great news for the sector, and an impressive feat for two companies driven by a clear vision and a relentless drive to provide solutions to healthcare challenges.
Funding success for Dxcover
Dxcover is a Glasgow-based cancer detection company that has received a £7.5m funding round and a £2.2m grant from the European Innovation Council.
The 2018 Accelerator Programme grads have made significant innovations in detecting early-stage cancers via its Dxcover Liquid Biopsy Platform.
The round was led by Mercia Asset Management, Scottish Enterprise, University of Strathclyde, SIS Ventures and Norcliffe Capital, and existing investors Eos Advisory. They were joined by the US-based investor Mark Bamforth of Thairm Bio.
Phlo raises £10m in funding
Meanwhile, Phlo is a digital pharmacy solution that aims to revolutionize the sector.
The Scottish company has raised £10m in funding to continue developing its Phlo Digital Pharmacy and Phlo Connect offerings, making healthcare more accessible and convenient for a sector in need of modernisation.
Allied with healthcare provider integration, Phlo delivers same-day medication and live patient updates.
Its technology can also provide reminders of when medication is running low, and execute one-off and repeat prescription deliveries.
“Pioneer Group is proud to have played a part in the growth of these two exciting companies. We wish them all the best in their journey to transform the future of healthcare. ” – Ayokunmi Ajetunmobi, Director of Venture Development at Pioneer Group
Find out more about our Accelerator Programme