Peter Thiel invests in UK healthtech speeding up clinical trials
How Lindus Health is Streamlining Clinical Trials with Peter Thiel's Backing
In a recent development in the healthtech sector, Peter Thiel, the renowned founder of PayPal and Palantir, has invested in Lindus Health, a London-based healthtech startup. Lindus Health is making waves in the industry with its innovative platform designed to streamline and expedite clinical trials for health and biotech companies.
Thiel's investment, coupled with an Innovate UK Smart grant and a seed round raised by the startup, is fuelling the expansion of Lindus Health's commercial team and fostering its growth in the US market.
The primary goal of Lindus Health is to accelerate the often lengthy and complex process of clinical trials, a crucial step in bringing new treatments or drugs to the market. The company's comprehensive platform handles every aspect of a clinical trial. This includes patient recruitment via social media campaigns, candidate screening using electronic health records, and a dashboard for real-time monitoring of trial progress. Moreover, the platform employs machine learning models to suggest improvements, drawing on data from over 600,000 previous trials.
The cost of using Lindus Health's platform varies, depending on the complexity of the trial. It can range from hundreds of thousands to tens of millions of pounds. The platform has already proven its worth, having been used in over 80 trials, including collaborations with Dopavision, Pharmanovia, and Oto.
Despite a general slowdown in tech investment, Thiel has maintained his investment activity in Europe, with Lindus Health being his latest venture. While the healthtech sector has not been immune to the downturn, there are promising signs of a potential recovery. European healthtechs have already raised around $51.4m in Q2, marking a significant improvement compared to the same period in 2022.