Turner Parkinson's Corporate team have acted as legal advisors to eLucid mHealth on their latest investment. Manchester based med-tech company eLucid mHealth Limited secured investment from The GM & Cheshire Life Sciences Fund managed by Catapult Ventures.
TP's team was led by Corporate Partner Stephen Hadlow. Stephen commented: “the new investment gives James and his team the spring board to develop and fully commercialise eLucid’s technology, and we look forward to supporting the business through the next phase of its development”. Solicitors Luke Philpott and Ryan Tweedale were also part of the TP team.
Dr James Burnstone, CEO of eLucid mHealth, said: “We’re delighted to have Catapult Ventures join us as investors. Their backing and commercial insights will accelerate our patient-centric development program and support our product launch into clinical trials. This approach means our solutions are aligned in supporting both patients and health providers, something we believe is vital to ensure the success of future medical products.”
“eLucid’s patent-pending technology has a number of advantages over the plethora of reminder services and ‘smart’ pill boxes and caps recently launched that try to help adherence, but without the risks associated with invasive options like ‘smart’ pills. The eLucid solution is also the only technology we know to support and enhance virtual trials.” said Nick Wright of Catapult Ventures.
eLucid's Chairman is Dr Ian Smith who is the founder of Synexus, the global leader in recruitment of patients into clinical trials. Dr Smith started Synexus in 1992 after a career in General Practice. He was awarded an MBE in 2012 for services to medical research.
Melanie Yeomans of Ward Hadaway advised Catapult Ventures on the transaction.
This deal was also highlighted by Insider.