Pill Connect Gains NPIF II Funding to Scale Unique Device
Deal News | Feb 13, 2025 | Business Cloud
Pill Connect, a Manchester-based MedTech company, has received funding from the GMC Life Sciences Fund By Praetura, supported by the Northern Powerhouse Investment Fund II and managed by Praetura Ventures. The investment aims to help the company scale its unique digital device that tracks whether patients are taking their medicine correctly. This reusable device, which attaches to the top of pill bottles, offers real-time dispensing data to pharmaceutical companies, improving the accuracy of drug efficacy evaluations in clinical trials. The technology can lock medicine bottles to prevent over-dispensing and remind patients of their doses. Pill Connect has partnered with international companies Aardex and Aptar to further its development. The company's innovations have sparked interest, with CEO James Burnstone expressing excitement at the device's movement into commercial adoption. Sim Singh-Landa, Investment Director at Praetura, highlighted the device's potential in enhancing patient adherence in clinical trials.
Sectors
- Medical Technology (MedTech)
- Pharmaceuticals
- Private Equity and Venture Capital
Geography
- United Kingdom – Pill Connect is based in Manchester, UK, and the funding was sourced from a UK-based investment fund, making the United Kingdom the primary geographical focus.
Industry
- Medical Technology (MedTech) – The article centers on Pill Connect, a MedTech company that has developed a digital device for improving medication adherence in clinical trials, thus firmly placing it within the Medical Technology sector.
- Pharmaceuticals – Pill Connect's device provides important data for pharmaceutical companies to assess drug efficacy, linking the article to the Pharmaceuticals industry.
- Private Equity and Venture Capital – The funding that Pill Connect received aligns with the practices of Private Equity and Venture Capital firms, as the GMC Life Sciences Fund By Praetura and the Northern Powerhouse Investment Fund II were involved in the investment.
Financials
- Not specified – The article does not provide a specific financial amount for the funding received by Pill Connect.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Pill Connect | Target Company | Company | A Manchester-based MedTech firm specializing in digital devices to track patient medication adherence. |
| GMC Life Sciences Fund By Praetura | Funding Provider | Company | A part of the Northern Powerhouse Investment Fund II, managed by Praetura Ventures, providing investment for life sciences companies. |
| Praetura Ventures | Investment Fund Manager | Company | Manages funds as part of the Northern Powerhouse Investment Fund II and has invested in Pill Connect. |
| Northern Powerhouse Investment Fund II | Investment Backer | Government | A regional development fund aimed at supporting businesses in the North of England. |
| James Burnstone | CEO | Person | CEO of Pill Connect and inventor of the device. |
| Sim Singh-Landa | Investment Director | Person | Investment Director at GMC Life Sciences Fund By Praetura, overseeing the fund's investment in Pill Connect. |
| Aardex | Partner | Company | A partner company specializing in drug dispensing technologies and adherence. |
| Aptar | Partner | Company | A partner company specializing in drug dispensing technologies and adherence. |