Mishcon de Reya has advised medical modelling firm, adsilico on its spinout from the University of Leeds and £3.5 million seed round investment. The seed funding - made up of £2 million from Northern Gritstone and £1.5 million from Parkwalk – will be used to fund the firm's development and will help adsilico to add to its growing team.
adsilico develops and commercialises computational models, virtual populations and simulations to evaluate the safety and efficacy of medical devices prior to their use in human clinical trials. The research was funded by the Royal Academy of Engineering and the University of Leeds Schools of Medicine and Computing.
Corporate Partner, Attilio Leccisotti, who led the Mishcon de Reya team, commented: "We are delighted to have advised adsilico on its spin out from the University of Leeds and seed funding from Parkwalk and Northern Gritstone.
"It has been great to be involved in the first co-investment between Parkwalk and Northern Gritstone, two great supporters of university spin outs, and also to have worked alongside both the University of Leeds and the University of Manchester.
"We're looking forward to continuing to support this impressive company and are really pleased that the founding team now has a great platform to propel its mission of redefining medical device innovation through in silico trials."
Sheena Macpherson, CEO of adsilico added: "We would like to thank the entire Mishcon team for helping us navigate our way through the investment process and help get this deal over the line. We look forward to working with Attilio and the Mishcon team for many years to come as we focus on growing our business."
