Northern Gritstone and Parkwalk Advisors Invest £3.5 Million in adsilico

Northern Gritstone, an investment firm specialising in science and technology enterprises in the North of England, in collaboration with Parkwalk Advisors, has disclosed a joint investment of £3.5 million in a seed funding round for adsilico Limited, a University of Leeds spinout with founding members from the Universities of Leeds and Manchester.

adsilico, leveraging research supported by the Royal Academy of Engineering at the University of Leeds’ prestigious Schools of Medicine and Computing, has pioneered an innovative in-silico trial (IST) method. ISTs employ modelling and simulation to generate scientific proof of a device's efficacy and safety prior to human clinical trials. This novel IST approach by adsilico integrates various data sets and employs generative AI across diverse data sources to generate synthetic populations, perfectly suited for clinical trial scalability. The technology presented by adsilico promises to expedite R&D timelines for medical device companies, minimise reliance on animal testing, and supplement the expensive process of human trials.

Of the total investment, Northern Gritstone has contributed £2 million, with the remaining £1.5 million provided by Parkwalk Advisors. This funding will support critical development activities at adsilico and facilitate team expansion.

Professor Alejandro Frangi, Founder of adsilico, and Bicentennial Turing Chair in Computational Medicine at the University of Manchester said: “Medical devices follow a lengthy evaluation with a tiny amount of scientific evidence currently derived from computer modelling and simulation. The cost is ever-increasing, delaying lifesaving benefits to patients. Northern Gritstone’s and Parkwalk’s investment and support will enable adsilico to offer a scalable solution to the medical device market to produce evidence on an unprecedented scale.”

Duncan Johnson, CEO of Northern Gritstone, said: “Computational modelling has the potential to revolutionise the MedTech industry and reduce the risks to humans. Northern Gritstone is delighted to support adsilico’s team, who once again demonstrate that great science and technology-enabled businesses are being created in the North of England.”

Moray Wright, CEO of Parkwalk Advisors, said: “We are proud to be backing adsilico through this seed funding round. adsilico’s pioneering approach to in-silico trials has potential to significantly accelerate the pace of innovation in medical device development. It’s fantastic to see this university spin-out take another step forward on its vision to bring safer and more efficient medical devices”.

Professor Nick Plant, Deputy Vice-Chancellor of Research and Innovation at the University of Leeds, said: “This funding will help to redefine the development of medical devices, enhancing performance and safety with more certainty and speed, and most importantly, prior to human testing”.

“It is a further testament to Leeds’ pioneering approach and strength in driving innovation to accelerate the adoption of new health technologies, delivering improvements and impact directly to healthcare professionals and patients.”