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London Tech Week

London biotech gets $2.7M fund injection for its AI-powered blood screening test

MultiplAI
Image credits: MultiplAI

Cardiovascular disease (CVD) is responsible for the highest number of deaths worldwide, with almost one-third (18 million) of all deaths annually. It is also the leading cause of burden on healthcare systems.

Predictions suggest that by 2035, global expenses on CVD are expected to surpass $1T. According to Santiago Miruka, cardiologist, co-founder, and CEO of MultplAI Health, around 80% of CVD-related deaths could be avoided with updated screening practices. 

And that’s what UK’s MultiplAI Health is striving to do.  The London-based biotech diagnostics company, has raised $2.7 million in seed investment led by Chile-based Zentynel, SF500 and Time Partners.

MultiplAI joins other startups in the UK, including CardiaTec Biosciences to combat Cardiovascular disease (CVD) through technologies such as artificial intelligence.

Universal precision screening technology 

Launched in 2020 by Charlie Luzzani, Mark Ramondt, and Santiago Miruka, MultiplAI Health is a biotech developing blood screening tests using RNA Sequencing and Artificial Intelligence to detect complex diseases, including cardiovascular disorders and cancer.

MultiplAI Health uses both artificial intelligence and genomic data to create a liquid biopsy that will be affordable and easy to use. Consequently, healthcare providers can identify potential cardiovascular risks before symptoms arise, and individuals can monitor their Cardiovascular diseases risk from an early age.

The UK launch of MultiplAI Health was supported by Illumina Accelerator Cambridge, a startup creation engine run by the genomic sequencing specialists. Since then, the company has launched several clinical studies in the UK and Argentina and is now opening operations in the United States, a country where almost half (48%) of all adults have some form of cardiovascular disease. 

Further, the company is also eyeing opportunities with its liquid biopsy to enter the global screening market, valued at $211B in 2021 and estimated to more than double within the next five years.

“In much the same way as the advent of the internet enabled e-commerce companies to leverage vast amounts of data on consumer habits and behaviours, 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,” said Mark Ramondt, Co-founder/CFO/COO of MultiplAI Health. 

“We’re delighted to see such investor confidence at this stage as we work towards launching our first products through partners in the US,” he added.

“MultiplAI is part of an exciting new generation of life science companies working at the interface of technology and biology to unlock massive amounts of genomic and molecular information on the state of an individual’s health that hasn’t been analysed before,” said Francisco Buchara, CEO of SF500.

“Since MultiplAI became one of our first startups exploring how to harness genomics applications to improve healthcare, the company has rapidly implemented its plans to consolidate its exciting technology and build an amazing team internally and externally,” said Zentynel Managing Partner, Cristián Hernández.

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