Digital healthcare scale-up Vitaccess announces award of prestigious Innovate UK loan.
Vitaccess, a full-service digital research provider delivering real-time patient-reported data, has been successful in its application for an Innovate UK loan. The funding is provided through loan competitions to UK-based small or medium-sized enterprises (SMEs) by Innovate UK, part of UK Research and Innovation, and the Government’s modern industrial strategy.
The innovative scale-up offers real-world evidence (RWE) solutions to the biopharmaceutical market via Vitaccess Real™, a product suite comprising smartphone apps, cloud-based platform, data analytics and visualization dashboards, and ISO:17100 certified localization into any language, any country.
Patients download free iOS or Android apps tailored to their condition and complete surveys that measure how their diseases impact their lives in the real world, outside the clinical setting. Working with patients and patient advocacy groups around the world, Vitaccess is currently running international studies in oncology and rare diseases.
The Innovate UK cash injection is the rocket-booster for the development of Vitaccess Real™, helping Vitaccess move to a modular platform. It will accelerate the incorporation of the latest in wearables technology, rewards, and the optimization of key strategic study modules to enable scalability in any condition, territory and language. The loan will be invested in hiring even more talent and developing Vitaccess Real™ to be able to deliver more sophisticated studies, but with reduced timelines.
The digital health market is expanding rapidly based on advances in big data, machine learning, bioinformatics, and smartphone penetration. Using Vitaccess Real™, pharmaceutical and biotech customers can launch RWE studies rapidly, without compromising on rigor, quality of data, design, or security. Commercial and non-commercial researchers can apply for access to study datasets, to drive global healthcare research forward. These studies bring together patients, their advocates, and researchers to improve care. The faster Vitaccess and partners can publish the results of RWE studies, the brighter the future for the patients at the heart of the company’s mission.
Dr Mark Larkin, Founder and CEO, commented:
“We are thrilled that Innovate UK has seen the potential of our business model. It is testament to hard work and achievements so far, built on close partnerships with sponsors, and the belief of patients and advocates. This will allow us to accelerate growth and fast-track our vision.”