Talking Medicines raises funds for US expansion
Talking Medicines, the patient data company driven by artificial Intelligence, has closed a £1.5 million funding round to support its expansion into the US.
Boston based life science investor Mark Bamforth of Thairm Bio has joined the current funders in a syndicated funding round alongside Tern, the investment company specialising in the Internet of Things, impact investor SIS Ventures, and Scottish Enterprise, which has also provided grant funding through its Smart:Scotland programme.
This latest investment brings the total raised by Talking Medicines to £4m. The company is focusing this year on expanding its subscription base amongst pharma brand teams and pharma marketing agencies. It has opened an office in New Jersey to support these plans with a view to recruiting a US-based sales team.
Formed in 2013 by CEO Jo Halliday alongside Dr Elizabeth Fairley and Dr Scott Crae, Glasgow-based Talking Medicines was founded on the principle of ‘profit with purpose’, with a social mission of delivering better health outcomes for patients. The company has doubled its headcount over the past year to 35.
Ms Halliday, said: “2022 promises to be a big year for Talking Medicines with this new investment. Having scaled our operations and formally launched our PatientMetrx technology platform, we’ve now got our sights set on expanding in the US pharma market, providing brand teams and agencies with a new way of understanding what patients are really saying and feeling about their medicines.
“The pharmaceutical industry will go through seismic change this year and our actionable patient insights will be transformational for the industry. Our new office in New Jersey provides the ideal base for us to build relationships with customers, acquire new leads and drive revenue growth.”