Medtech startup CRIAM bags US$2.1 million funding to advance blood testing technology

PORTUGAL – Criam, a medtech based in Braga, Portugal, has raised US$2.1 million in seed funding to advance the development of its in-situ blood test analysis technology.

CRIAM is a portable in vitro diagnostic company that offers rapid blood type, subtype, disease, and nutrient analysis. The device can be used in a variety of situations, including inside a moving emergency vehicle or in areas without internet or power.

The need to test blood type prior to a blood transfusion can result in patients being rushed to the hospital for testing or using limited O negative stock. CRIAM has created a solution for testing blood type in just a few minutes.

The company has already performed successful clinical trials with Hospital Corporation of America (HCA) in the US, Hospital Santa Maria and Hospital de Braga in Portugal, and Birmingham Bio-Hub in the UK.

Following this impressive and convincing study outcomes, the company expects to receive regulatory approval in early 2023.

CRIAM is also using its platform to conduct R&D for infectious diseases detection, currently focusing on COVID-19 and malaria serological tests.

Meanwhile, ieso, a leader in digital mental healthcare in the United Kingdom, has announced the completion of a US$53 million Series B financing round led by investment firm Morningside, with additional new investment from Sony Innovation Fund and existing shareholders IP Group, Molten Ventures, and Ananda Impact Ventures.

Every year, one in every five people suffers from a mental illness, and depression is estimated to cost the global economy US$1 trillion.

At the same time, in half of the world’s countries, there are fewer than four mental health workers per 100,000 people.

ieso’s mission is to address the global mental health crisis by developing clinically proven assessment and treatment products for common mental health conditions.

Its core digital therapeutics (DTx) product provides digital cognitive behavioral therapy (CBT) delivered by a therapist using artificial intelligence (AI).

ieso, which has a growing network of 600 qualified therapists, serves over 20 million adults through the National Health Service (NHS).

ieso also provides a path for accelerated development and trialing of personalized mental health treatments through its 460,000-hour therapy dataset and real-world evidence platform.

The data encompasses insight into, and treatment of, common mental health conditions including depression and anxiety and those linked with long term conditions such as diabetes.

The company has developed AI tools that analyze therapy sessions in order to identify suboptimal treatment and improve patient recovery outcomes.

ieso intends to seek regulatory approval for its self-driving digital tools in the United States and the United Kingdom before bringing them to those markets.

The company will expand its commercial teams to the United States and seek co-development and distribution partnerships that will allow it to gain scalable market access

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