Check out the 18-slide pitch deck Lindus Health used to convince Peter Thiel to back its clinical trials platform
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- Tech billionaire Peter Thiel has invested in British health tech startup Lindus Health.
- The London-based company has now raised around $6 million to date.
- Check out the 18-slide pitch deck Lindus Health used to raise the fresh funds below.
Billionaire Peter Thiel has invested in a startup that aims to dramatically speed up clinical trials, bringing its total funding raised to $6 million.
The PayPal and Palantir cofounder has invested in London-based Lindus Health, which claims to be able to conclude trials three times faster than the industry standard. Lindus wants to improve trials for conditions including tinnitus, insomnia, menopause, and childhood myopia.
The startup connects clinical teams at biotech and health tech companies with a technology platform that manages a trial, from start to finish. The platform handles all aspects of trial design, recruitment, and delivery, according to Lindus CEO Michael Young.
It is understood the funds from Thiel amounted to around $1 million.
Lindus Health’s recent trial with healthcare giant Pharmanova helped to evaluate how effective a treatment for insomnia patients was, by using its platform to source patients who would otherwise be difficult to reach. It recently partnered with Berlin-based startup Dopavision, which is working on a treatment to help children who are affected by short-sightedness.
Lindus Health’s main aim is to curb the excessive time and cost it usually takes to bring new medicines to market, especially in the UK.
“The UK should be a world leader in clinical trials but is held back by stifling levels of bureaucracy,” Young told Insider. “We now lag behind countries including the US and Germany when it comes to drug approval timings.”
The British Medical Journal estimates that clinical trials in the UK have fallen by 41% between 2017 to 2021. The startup aims to cull many of the hurdles in the process, by offering companies a package in which Lindus Health carries out various stages of the trial. It makes its money through the milestone payments received for the delivery of the trial, which culminates in the output of the trial data. Pricing can range from the low hundreds of thousands, to millions, said Young.
Amid a dip in funding for health and biotech startups last year, Young noted that there was “real appetite amongst investors for genuine innovation in the clinical trials so that new treatments can benefit patients.”
Thiel contributed fresh funds to this round, which was boosted by a grant of around $500,000 from Innovate UK. The startup has raised around $6 million to date with existing funds from the likes of Firstminute, Hambro Perks, Presight, and Seedcamp.
Peter Thiel’s footprint in Europe has also expanded since 2021; across his four VC firms, at which he is a partner, his investment into European startups grew by 16%, Sifted reported.
With the cash injection, Lindus Health will focus on growing its commercial team, and expand its trials globally.
Check out the 18-slide pitch deck used to secure the capital.