Gendius, a UK-based diabetes research company, has quickly secured its initial £400,000 funding target on equity crowdfunding platform Crowdcube. The company launched the campaign to raise the funds for to develop intellin, which is described as an app that takes an individual’s clinical history and tells them their risk of developing complications from their diabetes and how to manage these.
“Our mission is to ensure that every person with diabetes understands their risk of complications and how to manage them. The NHS alone spends over £11 billion a year on diabetes & 80% of these costs are avoidable and linked to the complications. The personal impact of diabetes is huge with the disease leading to; blindness, kidney failure, amputation, heart attack and/or stroke. The number of adults living with diabetes has almost quadrupled since 1980 to 422 million adults and this will reach 629 million by 2045. We have a B2B2C offering where we will access the NHS via the NHS app store and through pilots with GP practices. The B2C offering will be via a monthly charge on the app stores.”
The company also reported that in the initial setup, Intellin will gather personal and disease-specific information that enables the program to identify the user’s personal areas of risk.
“For instance if you have had a previous foot ulcer then it makes sense that looking after your feet should be a priority. Sounds simple? Well that is the point, we want people to understand and managed their disease in bite sized chunks.”
Through the campaign, Gendius will offer 14.80% in equity at a £2,500,000 pre-money valuation. The funding round is set to close mid-September.
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