Cambridge Temperature Concepts (CTC) Secures £2.6m Private Equity Funding to Commercialize Duofertility and Expand Digital Health Platform
CAMBRIDGE TEMPERATURE CONCEPTS (CTC) SECURES £2.6M PRIVATE EQUITY FUNDING TO COMMERCIALIZE DUOFERTILITY AND EXPAND DIGITAL HEALTH PLATFORM
31st July 2014: Cambridge, UK – Cambridge Temperature Concepts (CTC), the commercial stage digital health platform company that markets DuoFertility, today announces the successful completion of £2.6M equity financing. CTC has created a unique digital health platform that combines patented physiological sensor technology, advanced data analytics and a personalised support service. The proven initial application area is in fertility, with its fully commercialised flagship product – DuoFertility. This product offers real time, continuous monitoring of multiple physical parameters to help women track, plan and manage their fertility and is approved for use by the US Food and Drug Administration (FDA) and European Medicines and Healthcare products Regulatory Agency (MHRA).
The investment is led by Longwall Venture Partners and will be used by CTC to accelerate the international commercialization of DuoFertility, develop next generation products with enhanced connectivity and usability and exploit new applications of the platform though partnerships with companies wishing to enter the digital health arena.
As part of the financing, Dr. Matthew Frohn of Longwall and Pietrojan Gilardini representing the SATIF syndicate of investors will join the CTC board. Dr. Frohn is a specialist healthcare and life-science investor as a partner at Longwall Venture Partners LLP, which has about £70m in funds under management. He explained, “The science powering the technology and the versatility of the platform attracted me to the company, however, what really differentiates CTC is how the data generated links to proven clinical outcomes. The company enters this new phase with a firm commercial focus.”
Dr. Andy Richards, CTC chairman commented, “The board and team at CTC are excited at having gained investment from high quality investors capable of supporting this next generation health business as it scales.
We are particularly pleased that our experienced CEO, Dr. Claire Hooper, who has led CTC through this financing, will have the capital to be able to invest in commercialisation, exploitation of the platform and in expanding the team. CTC’s vision is to grow and strengthen its position in digital health through providing clinically relevant services based on its discreet and convenient technology monitoring platform; gathering and analysing longitudinal data on individuals to inform evidence-based health outcomes. This approach can result in high quality health monitoring for a number of applications, such as those we have already demonstrated in fertility, which will pave the way for the future of healthcare.”
Dr. Claire Hooper, CTC: firstname.lastname@example.org
Charlotte Culley / Dr. Catherine Butcher, BDB: +44 161 925 4700
Longwall Ventures, LLP
Cambridge Capital Group
Qualcomm Life Fund