UK-based BioTech diagnostics startup MultiplAI Health has secured $2.7 million in a seed investment round.
With nearly a 1/3rd of all fatalities each year, cardiovascular disease is the leading cause of death globally. Additionally, it is the main reason why healthcare institutions are overburdened.
By 2035, it is predicted that worldwide CVD spending will have surpassed $1 trillion. Updated screening procedures, in the opinion of cardiologist Santiago Miruka, co-founder and CEO of MultplAI Health, could prevent about 80% of CVD-related fatalities.
And here comes the UK-based BioTech business, MultiplAI Health, which is aiming to resolve this issue.
The funding round was led by Zentynel, SF500, and Time Partners.
To fight cardiovascular disease (CVD) using tools like artificial intelligence, MultiplAI joins other startups in the UK, such as CardiaTec Biosciences.
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MultiplAI Health is a biotech company founded in 2020 by Charlie Luzzani, Mark Ramondt, and Santiago Miruka that creates blood screening tests using RNA sequencing and artificial intelligence to find complex illnesses like cancer and cardiovascular disorders.
A liquid biopsy that is both cheap and user-friendly has been developed by MultiplAI Health using genomic data and artificial intelligence. As a result, medical professionals can spot possible cardiovascular risks before symptoms appear, and people can monitor their risk of cardiovascular diseases from a young age.
Illumina Accelerator Cambridge, a startup creation engine run by genomic sequencing experts, sponsored the UK launch of MultiplAI Health. Since then, the business has started several clinical studies in Argentina and the UK, and it is now beginning operations in the United States, where nearly half (48%) of all adults have cardiovascular disease of some kind.
The company is also looking for chances to enter the global screening market with its liquid biopsy, which was estimated to be worth $211 billion in 2021 and more than double within the following five years.
According to Mark Ramondt, co-founder/CFO/COO of MultiplAI Health, “Much in the same way that the advent of the internet enabled e-commerce companies to leverage vast amounts of data on consumer habits and behaviors, the giant steps made over the last decade in genomics, next-generation sequencing technology, and AI are enabling companies like ours to digitize biology, find meaning in the huge richness of molecular data, and ultimately improve human health.
He continued, “As we work toward launching our first products through partners in the US, we’re delighted to see such investor confidence at this point.
“MultiplAI is part of an exciting new breed of life science businesses working at the interface of technology and biology to unlock vast amounts of genomic and molecular data on the condition of an individual’s health that has not been analyzed before,” said Francisco Buchara, CEO of SF500.
The company has quickly carried out its plans to consolidate its exciting technology and build an amazing team both internally and externally, according to Cristián Hernández, managing partner of Zentynel. “Since MultiplAI became one of our first startups exploring how to harness genomics applications to improve healthcare, the company has rapidly carried out its plans,” he added.
