Hargreave Hale AIM VCT leads £6.5m Series A round for Qureight

Cambridge-based techbio firm specialises in AI for clinical trials 

London, 16 April 2024: Hargreave Hale AIM VCT plc (HH AIM VCT), a leading venture capital trust, has today announced that it is the lead investor for a £6.5m investment round for Qureight, a techbio company specialising in clinical data curation. HH AIM VCT will contribute £2.5m of the total investment round.
 
Hargreave Hale AIM VCT is an established venture capital trust that invests in some of the UK’s most exciting companies. The VCT has a diversified portfolio of small high growth UK companies across a broad spectrum of sectors including life sciences, industrials, consumer discretionary, and technology.
 
Qureight is the latest innovative health tech company to join Hargreave Hale AIM VCT’s portfolio of UK-based high growth businesses. The company is led by founder and CEO Dr. Muhunthan Thillai, a highly regarded consultant specialising in complex lung diseases. Powered by artificial intelligence, Qureight’s market leading technology allows pharmaceutical companies, hospitals and clinical research organisations to analyse medical images of the heart and lungs and more effectively measure the impact of new experimental drugs on lung function and disease progression. The funding will also allow the company to evaluate opportunities in new disease areas such as pulmonary hypertension and lung cancer.
 
Lucy Bloomfield, co-manager of the Hargreave Hale AIM VCT, commented: “Hargreave Hale AIM VCT has a long tradition of investing in innovative, high growth companies and the application of AI in life sciences is a particular area of interest. Through the investment process, the team at Qureight has impressed us with their vision and expertise. We are delighted to be the lead investor on this funding round and look forward to supporting Qureight as the company expands its capability.”
 
Dr. Muhunthan Thillai, founder and CEO of Qureight commented: “We are excited to be working with the Hargreave Hale AIM VCT as the lead investor in this round. Clinical trials for finding new drugs in lung and heart disease are extremely costly and Qureight’s platform technology allows pharmaceutical companies, research companies and hospitals to accelerate the clinical trial process while improving outcomes and efficiency. We look forward to increasing our investment into our platform and our team as we continue to develop our technology and expand into adjacent markets.”
 
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Editors’ notes
 
About Qureight 

Founded in 2018 and headquartered in Cambridge, UK, Qureight is a rapidly-scaling techbio startup operating on a global scale. The cloud-based, vendor agnostic platform is GDPR, HIPPA and NHS Digital compliant. The platform has ISO13485 accreditation to interrogate clinical trial data. The team is led by founder & CEO Dr Muhunthan Thillai, a consultant pulmonologist at Royal Papworth Hospital in Cambridge who trained in lung fibrosis. Qureight previously raised £1.5m in a 2022 seed round led by Playfair Capital, with participation from Life Sciences funds Meltwind, Ascension and Cambridge Angels.
 
Media contact for Hargreave Hale AIM VCT
Lucy Clark
Lucy.clark@canaccord.com
07984184461
 
Media contact for Qureight
Jess Farmery, SomX
jess.farmery@somx.health