Investment firm Spex Capital and London’s life sciences cluster organisation MedCity have opened their first joint call to identify and fund the next generation of digital health and medtech innovators.

Applications are invited from early-stage healthtech ventures with solutions to problems faced by healthcare systems globally. Interested companies will have six weeks to complete their applications for seed or series A rounds before the call closes at midnight on 27 October.   

Under the joint call, MedCity will use its networks and expertise to attract and assess applications from investment-ready companies developing breakthrough digital healthtech and medtech. Spex Capital will look to invest up to a maximum of £5 million per target company. The average ticket is expected to between £500,000 and £2 million, but smaller tickets will be welcome. Successful applicants will also have access to advisory teams with sector experience.

Guidance on the application process and criteria for investability are outlined on the investment call web page. Applications are made via a secure, dedicated portal.

Founded this year by serial health tech entrepreneur Claudio D’Angelo, London-based Spex Capital already has a portfolio of six heathtech companies. The venture firm launched with a team of 16, comprising seven investment team members, seven senior advisors and two venture partners.

D’Angelo said: “We want to see innovative products and services being delivered for patients. Our partnership with MedCity will bring companies to potential investment and play an important role in creating a lively ecosystem, consistently with our mission to accelerate the healthcare digital revolution.”

Leading from the MedCity side to source and evaluate viable candidates are chief operating officer Nicki Bromwich and programme lead Sakura Holloway. Bromwich has 30 years’ experience as a clinician in the NHS and was head of commercial development at Oxford AHSN before joining MedCity. Holloway is an intellectual property and commercial strategist in the biotech sector with a technical background in molecular biology.

Bromwich said: “Together we are tackling one of the biggest challenges for SMEs in this sector – raising finance to support the development and acceleration of the technology into the healthcare system. MedCity will leverage the extensive experience of its team and network of peers to identify and derisk those companies that have potential to make the biggest impact on patient outcomes and the health and social care systems.”

Date published: September 16, 2021

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