Over-subscribed investment round to fund technology advancement and research partnerships
New, dedicated offices and laboratories secured at Allia Cambridge Future Business Campus
Planned recruitment of engineers, scientists and administrative staff
Kalium Health Ltd (the Company), which aims to transform the way that kidney disease and heart disease is managed, today announces a new phase of growth backed by a round of investment financing. The over-subscribed round was led by Cambridge Enterprise with participation from new and existing investors including Kidney Research UK and Martlet Capital, which joins the Company’s Board of Directors.
Funds will be used to advance the company’s core blood monitoring technology and develop worldwide partnership opportunities ahead of further planned investment and growth in 2023.
The Company, spun out of the University of Cambridge in 2019, has developed technology to monitor blood potassium levels that is so simple that patients themselves can use it. Blood potassium balance is critical for the health of us all. However, kidney disease or common heart medications can interfere with this balance. This leads to a significantly increased risk of illness or sudden death and a doubling of the average treatment costs of at-risk patients.
Kalium Health’s first product will be a personalized, digital monitor for blood potassium concentration, aimed at addressing a significant part of the multi-billion dollar worldwide cost of managing kidney disease and heart failure. The company is also developing its technology for other clinical settings via partnerships with global medical technology providers.
Kalium Health can also announce that it has secured new facilities at Allia Cambridge Future Campus, providing a platform for the growth of the company over the next two years. This includes dedicated laboratories for the Company’s R&D activities, space for an expanded prototype manufacturing line and offices to support increased headcount. The company will be recruiting engineers, technicians and administrative staff in line with its growth plans.
Tom Collings, CEO, Kalium Health, says “We have shown that our innovation could play a key role in transforming healthcare – helping to manage common conditions, like kidney disease or heart failure, as part of patients’ everyday lives. It’s great to take this next step in advancing our technology and building the company to deliver on this potential. We have been overwhelmed by the interest we have had from patients, clinicians and global medtech and pharmaceutical companies and this inspires us every day.”
Image © Allia Future Business Centre