Pill Connect Secures Funding for Growth
Deal News | Feb 13, 2025 | praetura ventures
Pill Connect, a Manchester-based medtech company, has secured significant funding from the GMC Life Sciences Fund By Praetura and NPIF II, managed by Praetura Ventures. The funds aim to further scale its cutting-edge digital device, which tracks medication adherence in clinical trials. By doing so, pharmaceutical companies will better assess drug efficacy, potentially saving over $800,000 daily in lost future drug sales due to trial delays. Integrating seamlessly with clinical trial software and a companion app, the device aids both patients and trial managers. CEO James Burnstone emphasizes the investment will help expand their team, enhance products, and explore new opportunities. With backing from various stakeholders, including Praetura Ventures, Pill Connect aims to revolutionize medication adherence in clinical trials globally.
Sectors
- Medical Technology
- Life Sciences
- Pharmaceuticals
Geography
- United Kingdom – Pill Connect is based in Manchester, UK, and is receiving investments from UK-based funds.
Industry
- Medical Technology – Pill Connect is a medtech company focused on devices for clinical trials.
- Life Sciences – The article discusses investment in a device that improves clinical trial processes, primarily in the life sciences sector.
- Pharmaceuticals – The device provides critical data to pharmaceutical companies for assessing drug efficacy in trials.
Financials
- $800,000 – Potential daily revenue loss in drug sales due to trial delays.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Pill Connect | Target Company | Company | A medtech company developing devices to track medication adherence. |
| Praetura Ventures | Investor | Company | A venture capital firm managing the GMC Life Sciences Fund and NPIF II. |
| GMC Life Sciences Fund By Praetura | Investor | Company | The fund, managed by Praetura Ventures, that invested in Pill Connect. |
| NPIF II Praetura Equity Finance | Investor | Company | Part of the Northern Powerhouse Investment Fund, providing equity finance. |
| Aardex | Partner | Company | Specializes in drug dispensing technologies and adherence. |
| Aptar | Partner | Company | Global company focused on drug dispensing technologies. |
| James Burnstone | CEO | Person | CEO of Pill Connect and inventor of the device. |