5th March 2024
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New innovative health tech fund launches to invest with impact
FCC Press release
5th March 2024
New innovative health tech fund launches to invest with impact
A new health innovation fund is investing in health and care technologies and innovations to transform the current health and social care system, including improving access to and quality of care.
The Special Opportunities Fund is starting with Braingaze, a revolutionary new tool that uses eye tracking to help diagnose ADHD in a matter of minutes. The tool enables drug-free cognitive disorders treatment and brings brain-related healthcare into the digital and AI-powered age.
This timely solution comes at a time when diagnoses take years to identify correctly as average waits for an NHS assessment are between 15-24 months, with some people waiting for up to five years. There is also a shortage of medication currently according to the main manufacturer in the UK, with supplies affected until April of this year at the earliest.
Braingaze is the first of many to be supported by the Special Opportunities Fund, anchored by charity Future Care Capital (FCC) and run by investment fund manager RYSE Asset Management. The Fund is a unique collaboration to raise venture capital for innovations that transform and enhance care. The Fund will engage institutional and qualified investors to provide a financial lifeline for early-stage companies whose innovations can solve the challenges facing the NHS and other health and care delivery systems, ultimately transforming outcomes and enhancing quality of life and wellbeing.
FCC is the cornerstone investor in the Special Opportunities Fund with both parties remaining fully independent in order to be able to bring the full value of their expertise and broader perspectives to cutting edge impactful work.
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"As an independent charity, FCC is constantly exploring new ways to create social impact. We are delighted to announce the launch of the Special Opportunities Fund with RYSE which allows us to 'put our money where our mouth is' and support investments aligned with our charitable mission of improving health and care. By investing in innovation and technology, the Fund will deliver tangible benefits for our beneficiaries, exactly the impact we are set up to make. We are excited to be working with RYSE who share our commitment to improving care and have a strong track record as an investment manager. Our investment in the Fund is itself an innovation – a so-called social or mixed-motive investment for charitable impact and financial return. For FCC, this is optimal for sustainability compared with pure grant making without financial return or investing for pure financial return. We can enhance our charitable impact in the short and long term with such an approach. With the Fund’s first investment in Braingaze, we are delighted with its impact on people’s lives right now.” Andrew Whelan, Chair at FCC
“The demand for innovative healthcare solutions has never been greater, and RYSE’s Special Opportunities Fund addresses this need. We are delighted to be working with Future Care Capital; as a cornerstone investor and highly active innovator within health and social care, they support our vision of accelerating development and adoption of digital solutions that will improve patient outcomes, enhance efficiency, and drive positive change across the healthcare ecosystem.” Shabir Chowdhary, Managing Partner at RYSE Asset Management
“The UK alone is home to an estimated 2.6 million people living with Attention Deficit and Hyperactivity Disorder. Only about 15-20% of those are diagnosed; waiting lists for getting a formal diagnosis have skyrocketed since the pandemic and persist even though the Government mobilised substantial additional resources to deal with this challenge. The potential of innovative digital biomarkers to increase efficiency and improve the patient and clinician’s journey can and should be exploited – we are delighted to work with Future Care Capital and the entire UK cognitive care innovation ecosystem to contribute to that in any way we can.” Laszlo Bax, Co-founder and CEO at Braingaze
*ENDS*
About FCC
Future Care Capital (FCC) is a UK charity aiming to accelerate the development and impact of innovation to improve prevention, treatment, and care: putting people first by breaking down boundaries. FCC’s voice is that of its beneficiaries – people in need of care – with the aim that support is available and experienced positively by all. From its independent stance, it convenes a unique set of perspectives and people (from practitioners to providers, commissioners to regulators, and people to policy-makers) across boundaries in the health and care system to inform better solutions to stubborn problems, and demonstrate that resolutions are possible and workable. Today, too often, it feels that people are not well supported, and health and care professionals are effective despite the system not because of it. FCC’s origins go back to 1945, starting life as the National Nursery Examination Board (NNEB) which later became the Council for Awards in Care, Health and Education (CACHE).
Find out more about Future Care Capital at: https://futurecarecapital.org.uk/
About RYSE Asset Management
RYSE Asset Management is a venture firm backing innovators in healthcare. RYSE was born out of a unique relationship with the NHS to identify, support and invest in leading early-stage digital healthcare companies to help them scale globally. Based in London, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. RYSE has evolved to collaborate with health systems and partners globally, with private and public providers, pharmaceutical, insurance, medical device companies, to drive revenue and exit. Through its partnership with Digital.Health London, RYSE’s portfolio includes companies developing transformative solutions at the confluence of health and technology.
Find out more about RYSE AM at: https://www.ryseam.com/en/
About Braingaze
Braingaze offers a non-invasive, digital solution for early detection, diagnosis and therapy of neuro-cognitive problems specifically for Attention Deficit and Hyperactivity Disorder (ADHD), Alzheimer’s Disease (AD) and Mild Cognitive Impairment (MCI). Braingaze was spun out of the University of Barcelona (UB) to leverage over 20 years of research into cognitive attention brain circuits in relation to the visual sensory system. The multi-patented science enables both more objective detection of the presence of attention-related neuro-diversity as well as therapeutic training solutions that combine eye movement-controlled attention-focussing exercises. It presently has offices in Barcelona and in London.
Find out more about Braingaze at: https://braingaze.com/
