Clinical trial software developer Lindus Health has revealed has received backing from PayPal co-founder and billionaire investor Peter Thiel.
It comes as the startup secured £436,603 in grant funding from Innovate UK in May.
Total investment for Lindus Health now stands at $6m (£4.8m) from the likes of Thiel, Firstminute Capital, Seedcamp, Hambro Perks and Calm/Storm.
“Clinical trials are the biggest bottleneck to improving human health,” said Lindus Health co-founder, Michael Young. “We’re working with high-growth companies developing the next wave of breakthrough treatments to accelerate the clinical trials process.”
Lindus Health’s clinical trial software has been used in over 80 trials in the UK, US and Europe since beginning in 2021, the company said.
Organisers of clinical trials can conduct study design, recruitment and delivery through the Lindus platform.
A representative for the London-based firm told UKTN they are looking to start their Series A fundraiser “soon”.
Young said: “From monitoring trial data in real-time to using machine learning to predict trial outcomes and make improvements to trial designs in advance, we want to simplify and accelerate the trials process and put patients first.”
It is currently working with Pharmanovia on trials for insomnia and a digital tinnitus one with Oto.
Peter Thiel’s Valar Ventures last November led fintech TreeCard’s £19m Series A round.
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