As part of its ‘Explore’ programme, Elbow Beach Capital has invested in MedTech pioneers, Transdermal Diagnostics.
Transdermal Diagnostics is a MedTech spin-out dedicated to developing and commercialising innovative technologies for needleless monitoring of health biomarkers in real-time. TD aims to reinvent patient care and lead a paradigm-shift from treatment to prevention. Currently, TD is developing the world’s first 100% needle-free wearable to help patients manage diabetes accurately and more effectively.
Diabetes is a global health crisis currently afflicting hundreds of millions of people and is projected to rise to 783 million by 2045. Commercial sugar monitors are unpleasant, expensive, inconvenient, and cause poor disease management, exposing patients to an increased risk of developing life-threatening co-morbidities and reducing overall life expectancy.
TD is addressing this challenge by developing a wearable smart-patch for non-invasive and real-time monitoring of health biomarkers. The technology uses miniaturised biosensors to sample the fluid that bathes the living cells of the skin, in which biomarkers, including sugar, are at very similar levels to those in blood. The patented platform features a unique multiplex architecture that makes use of preferential pathways in the skin to access this fluid.
This is Elbow Beach Capital’s second investment in university science spin-outs following our investment in Zentraxa in June 2022.
Dr Luca Lipani, Founder & CEO of Transdermal Diagnostics:
“We are excited to have investors like Elbow Beach Capital on board with a deep understanding of the transformative potential of Transdermal Diagnostics’ technology platform. This funding round will kick-start our mission to revolutionise the prevention, diagnosis and management of chronic conditions, starting with diabetes”
In line with our ambition to create value and impact by backing innovative founders, our ‘Explore’ investment vertical widens our reach beyond our ‘Core’ investments. Typically, companies receiving ‘Explore’ investment are pre-seed and not yet ready to go to market. Our ‘Explore’ tickets allow us to support and build relationships with emerging businesses with the potential of future larger investments.